The daily forex analysis on December 4, 2020 will discuss the Australian currency in recent days has strengthened, supported by China's economic data, namely the Caixin Services PMI which was released well, by 57.8 while the forecast was 56.5 and in the previous month it was 56.8. This illustrates that the economic level in the country of the bamboo curtain began to fluctuate after the Covid-19 period attacked. In addition, the impact of the weakening of the US Dollar is also a driver for other currencies to strengthen. The weakening of the Greenback is due to a stimulus plan that will be disbursed in the near future. On the other hand, the increasing number of Covid-19 patients in the European zone and in the Americas and the lockdown in several countries, also contributed to the strengthening of the Aussie currency.

Forex Daily Analysis Predictions

Today's FOREX prediction on the AUDUSD pair is expected to continue its decline, and the recommended OP (Open Position) is SELL at the level of 0.74200. With a Target Profit (TP) of 10 - 20 points and a Stop loss (SL) of 5 - 10 points.
Preference BEARISH
Target Profit 1 0,74100
Target Profit 2 0,74000
Stop Loss 1 0,74250
Stop Loss 2 0,74300
This the daily analysis of forex on December 04, 2020. Keep Money Management and Risk Management first in your trading. Visit GIC Indonesia to get information about the world of trading. You can also join us in the GIC Trade Telegram Community and GIC Trade Telegram Channel. Don't forget to check out the GIC Indonesia Youtube account which is full of a lot of information, and follow our Instagram account to get information about various interesting webinars that you can participate in.