The Australian dollar managed to show yesterday another maximum of the last 3 months, which was caused by the growth of the Euro. But this “Australian” strengthened only the spring that is preparing to push down – the Marlin divergence has already become triple. The decline target is seen in the range of 0.7222 / 52, formed by the November 12 low and the Kruzenshtern line.
Based on the four-hour chart, the price is fixed above both the indicator lines – the balance line and the Kruzenshtern line, Marlin indicates growth. But here we see a repeat of the situation in recent weeks, when the price was freely wound on this indicator line in a relatively thin speculative market.
Fixing the price below 0.7384 could mean a start to overcome the level of 0.7340, which will already reveal the downward potential to the full. It is worth noting that the Australian dollar did not react to the excellent trade balance of Australia published this morning and the trade balance for October was 7.46 billion dollars against the forecast of 5.83 billion. Exports increased by 5.0%.
The material has been provided by InstaForex Company – www.instaforex.com
🚀If you want to get a Forex Robot Coded as per your trading strategy but are unable to do so because of the high price for the Robot then you can take advantage of the CROWD FUNDING campaigns feature. ✔ These are some crowd funding campaigns for Forex Robots, which when completed can provide the very same Forex Robot to the participants at an average price of $5-$10 per participant. ✔ You either participate in one of the already listed campaigns or send us your Forex strategy : Submit Crowd Funding Campaign , for which you would like the Forex Robot to be coded. A Crowd Funding Campaign would then be started for the same . ✔ All you have to do later on is to share the campaign online with your friends to encourage more people to participate in the campaign.
As a result, each participant can get that Forex robot for just a campaign contribution of $5 (which is the minimum). Participants can back the campaign by anything above or equal to $5 to reach the funding goal to close the campaign.