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[QUOTE="Antony_NPBFX, post: 195065, member: 38727"] [size=5][b]AUD/USD: consolidation at local highs 07.05.2021 [/b][/size] Good afternoon, dear forum visitors! [url=https://www.tb.marketinstructor.com/?referer1=earnforex.com] NPBFX[/url] offers the latest release of analytics on AUD/USD for a better understanding of the current market situation and more efficient trading. [b] Current trend [/b] AUD is slightly declining against USD in trading this morning session, consolidating near the local highs, updated the day before. Traders are not opening new positions ahead of the publication of the US labor market report for April. The forecasts are quite optimistic. In particular, it is expected that the number of Nonfarm Payrolls will grow by 978K after rising by 916K in March. The Unemployment Rate for the first time in a long period may fall below 6%, to 5.8%. In the meantime, moderate support for the instrument is provided by statistical data from Australia and published comments of the country's regulator on monetary policy, which, however, remains very restrained. Anyway, AiG Services index went up from 58.7 to 61 points in April. [b] Support and resistance [/b] Bollinger Bands in D1 chart demonstrate flat dynamics. The price range is slightly changing, reflecting ambiguous dynamics of trading in the ultra-short term. MACD has reversed to growth having formed a new buy signal (located above the signal line). Stochastic keeps its upward direction but is rapidly approaching its highs, which reflects the risks of overbought instrument in the ultra-short term. Existing long positions should be kept until technical indicators are clarified. Resistance levels: 0.7800, 0.7840, 0.7883. Support levels: 0.7756, 0.7700, 0.7675, 0.7650. [img]http://businesspr-finance.com/wp-content/uploads/2021/05/AUDUSD070521-33.png[/img] [img]http://businesspr-finance.com/wp-content/uploads/2021/05/AUDUSD070521-333.png[/img] [b] Trading tips [/b] To open long positions, one can rely on the breakout of 0.7800. Take-profit – 0.7883. Stop-loss – 0.7756. Implementation time: 1-2 days. A rebound from 0.7800 as from resistance, followed by a breakdown of 0.7756 may become a signal for new sales with the target at 0.7700. Stop-loss – 0.7800. [b]Use more opportunities of the NPBFX analytical portal: glossary[/b] Beginning traders certainly face a lot of specialized concepts and lexicon on FOREX, which are often not fully been understood. Swap, tick, hedge, margin calls are often unfamiliar to beginning traders. But the lack of knowledge of these fundamentals make a competent market vision impossible. So glossary on the NPBFX analytical portal could be an excellent helper in this case, which contains all the main definitions with explanations in a compact and accessible form. All concepts are arranged in alphabetical order, so that you can easily and quickly find and explore a new concept for yourself. If you have any questions about trading instruments, you can always ask an analyst in the online chat on the portal and get a free consultation of an experienced specialist. Use the current recommendations of analysts on AUD/USD and trade efficiently with [url=https://my.npbfx.com/register/?utm_campaign=register&utm_medium=forumpost&utm_source=earnforex.com]NPBFX[/url]. [/QUOTE]
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