Navigation

Prev Story | Next Story

  • AUD/USD – Recent Corrections Have been Under 100 Pips

    From fxtimes.com

    Read Full Story at fxtimes.com

    Falling channel: Since late January, the AUD/USD has been in a falling channel seen in the 4H chart. The RSI shows a bearish momentum as it tags 30 and has held under 60. Also, the moving averages are in bearish alignment with higher periods above the lower ones. Today (2/12) we saw a pullback from a new 2013 low. As this rally develops, I wanted to take a look at what the strongest pullbacks have been since the market has been falling from the 1.06 handle. It turns out that the strongest pullbacks have been 90+, and under 100 pips. Today’s pullback has been about 95 pips so far. Will this pattern repeat? ... (full story)

    • Deano9999
      Deano9999's Avatar

      230 posts
    • Agreed. Since this article the price action has reached 1.0347 and held with the 1 hr RSI now in overbought territory and price around 1.0340. Looks like a lack of volume in the quiet Asian session is preventing a more decent challenge to 1.0350 (so far) so the London session will be interesting.

    • joe avery

      5 posts
    • Agreed. London session will be interesting. Guess Asian session slowing will add to the end of day (Sydney) when there will be some selling. Slightly bearish for the short term.

Top of Page

  • Story Stats