today made another pair of the maximum of this week, the rate is trading above the Ichimoku cloud, and now the course fulfills two signals for the purchase of the Ichimoku, the goal for today I have is about 0300.
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today made another pair of the maximum of this week, the rate is trading above the Ichimoku cloud, and now the course fulfills two signals for the purchase of the Ichimoku, the goal for today I have is about 0300.
Price actions from 1.1079 high are treated as a consolidation pattern in the larger up trend. Current development suggests that rebound from 0.9588 might be the fourth leg inside the consolidation pattern, which could be a triangle. Break of 1.0225 will target upper trend line (now at 1.0742) but strong resistance should be seen there to bring at least one more fall. After all, firstly, break of 1.0852 is needed to signal larger up trend resumption or more consolidative trading could be seen. Secondly, any downside attempt would likely be contained by 0.9387/9663 support zone.
Standard pivots
AUDUSD
R3 1.04955
R2 1.04092
R1 1.0323
PIVOT 1.01704
S1 1.00842
S2 0.99316
S3 0.98454
Buy above R1 for immediate target R2
This pair was really up on Friday hopefully it will retrace or even open with a gap up on sunday, for now we should keep our fingers crossed and see what the day brings
whole up trend from 0.4773 (01 low) extended to a point where it just missed 100% projection of 0.4773 to 0.9849 from 0.6008 at 1.1084. At this point, there is prospect for a lengthier medium term consolidation. But there is no indication of long term reversal yet. We'll stay bullish as long as 0.8066 support holds and expect an eventual break of 1.1084 to 138.2% projection at 1.3023, which is close to 1.3 psychological level, in the long term.
AUDUSD still looks to be in a bullish trend, the correction that occurs, in my opinion will not touch the daily pivot (1.0172). I still think that this pair will go up, at least will go to the 1.0326 level.
http://i45.tinypic.com/fksga0.jpg
Today AUDUSD open above the strong resistance 1.0223 and also above the green trend line which indicates the nice bullish signal as long as the price again break below the green trend line which act as a new strong support line.
AUD exchange rate has made a serious bid to increase, even a couple last week managed to break through the resistance level of 0220 and today it has tested this level on the strength of it, and went to a retreat to the north, expect continued growth.
short positions at 1.0214 with 1.0167 target
the breakout of 1.0265 will call for a rebound towards 1.0320
http://www14.0zz0.com/2012/07/02/10/563287188.gif
The course continues to grow to the north, the price went up to a tight upper limit of the Ichimoku cloud, the underlying trend remains the North, I think that would break the resistance of which to be 0460.