DESCRIPTION:
As we know Australia is one of the biggest gold commodities exporter besides China, but China already produces gold over more capacity that increase the supply in the market, this situation cause the gold price to be under pressure. All this situation automatically makes this currency to get pressure too. That's why last week this pair cannot break the 1.0325 level and back to the downside again.
Recommendation:
SELL Stop (Pending Order) @ 1.0275.
Take Profit. 1 @ 1.0255.
Take Profit. 2 @ 1.0224 (Optional).
Stop Loss @ 1.0305.
Best regards,
Official Analyst of InstaForex Companies Group
InstaForex Companies Group
http://instaforex.com
Email : Arief.jakarta@indo.instaforex.com
Blog : blog.mt5.com/arief
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