Thread: Aud/Usd
Reduce further still prevents tilting the level of support from which the course several times fought back, the price goes up to him again, I would consider selling only at strengthening the pair below the horizontal support 0390 with access to the target 0300.
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Spoiler:
On the H1 chart, the price is below EMA 12 and EMA 72 d indicates the trend is still down
RSI 50 is under the area of 50 indicates the trend is still down
Recommendation: sell
Range :1.0511-1 .0348
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If we look on the daily time frame, we can see that the previous candle is a pin abr candle. So, I think there will be a reversal today. AUDUSD may goes up to the resistance level at around 1.0498 or maybe higher. This set up will fail if AUDUSD can break the yesterday's low.
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24.09.2012**pending order**
Pair: audusd** Sell Stop 1.0420, sl:1.0451, tp 1=20-30 pips profit, tp2=1.0368
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I think the pair has a deeper side to move south ward, and the more difficult it finds to breake the resistance, the more heavy the downfall will be. I have not ruled out the 0.9800 area as the final landing area
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Updated
Slightly bearish tendency appears on the movement of the pair the Australian dollar against the U.S. dollar since the morning, where the price now trades near 1.0400, while we are still continuing our positive expectations based on the rising channel appear in the picture to the positive side and stochastic stability above 1.0365
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If we analyze the daily chart, we can see that the pair is still forming the southern waves (waves rebound from 0600), a continuation of the medium-term trend south to at least the support of 0160.
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Australian dollar pair appears against the U.S. dollar traded mixed to move near 1.0400, where SMA 50 continues to provide good support for the price from the bottom, while Stochastic continues to provide positive signals on the daily time frame.
From here, we expect to see an upward trend during the coming period, the start of our main goals to exceed the level of 1.0550 and head towards levels of 1.0700 - 1.0750, with reference to the broken support levels existing between 1.0365-1.0285 significantly weaken the chances of achieving the awaited targets.
Expected trading range for this week between: support 1.0285 and resistance 1.0750
General tendency is expected for this week: UP
Last edited by smart; 2012-09-24 at 11:26 AM.
29.8 at stochastic level as critical level for this pair because from this level pair can become strong bullish starting if this pair successfully move above this stochastic level or if pair successfully breaks near 0 stochastic level so it become strong bearish continuing accelaration from this level, and 1.0399 as starting point for this strong bearish movement
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At the H4 chart, the price is below EMA 12 and EMA 72 indicates the trend is still down
RSI 50 is below 50 indicates the trend is still down
Recommendation: sell
Range :1.0495-1 .0361
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