AUD/USD technically non-directional | Forex Factory

  • AUD/USD technically non-directional

    From fxtimes.com

    Channel Breakout: The retreat from 1.0420 formed a declining channel during the 11/20 and 11/21 sessions. Price fell below the low and start of the week finding a support pivot at 1.0336 during the 11/21 US session. This pushed above the very short-term channel and we begin the 11/22 Asian session with AUD/USD near the 200-hour SMA. No direction: The AUD/USD started a rally last Friday after after a sharp decline that broke below a key trendline and basically showed signs of topping. And the 4H chart shows that the market has been bullish before this “topping attempt”. And finally if you look at the daily chart, ... (full story)

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ForExtraPips
Nov 22, 2012 12:39am
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Price will go down then back up. Then after that, is any ones guess.
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Trader#8DD3
Nov 22, 2012 12:24am
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If there's no direction THEN DON'T TRADE!!!! You may just as well go and put your money on black or red at the roulette table....not the way I trade!!!
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