Friday, October 27, 2017

The Australian dollar chart suggests negative US GDP


A few minutes from now, GDP is released quarterly and analysts expect it to be 2.5% while the previous result was 3.1%To get my recommendations subscribe to my channel on thelegram click on the link belowhttps://t.me/joinchat/AAAAAEQlscqnlbmEeSb_pA
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Looking at the Australian dollar against the US dollar, we find that yesterday's price closed below the 61.8% Fibonacci level between the 2 June 2017 low at 0.7370 and the 8 September 2017 high at 0.8124 and the price at the time of writing is hitting 76.4 % Of the Fibonacci fan extended between June 2nd and September 8th. We find that yesterday the price exceeded the 100% Fibonacci level between 8 September 2017 at 0.8124 and the 20 September high at 0.8102. Therefore, we find that the price is now entering the Fibonacci Clusters, 100% of the Fibonacci channel and 61.8% of the Fibonacci wave 76.4% of the Fibonacci fan is expected to the Fibonacci Cluster area pushing the price higher and therefore if the US GDP comes negative it will serve technical analysis.

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