The Aussie has that old friday sinking feeling...
- #101,105
- Mar 24, 2017 6:00am Mar 24, 2017 6:00am
- Joined Feb 2014 | Status: trading bank levels | 8,143 Posts
- #101,106
- Mar 24, 2017 6:57am Mar 24, 2017 6:57am
{quote} so far it's defying gravity the 3rd touch don't mean much 7740 will be tested and if broken a new big push higher will follow next. iron ore and gold in bull mode it don't help much the trip north is still intact imo.
- #101,111
- Mar 26, 2017 3:45pm Mar 26, 2017 3:45pm
- Joined Dec 2015 | Status: Trader | 8,751 Posts
If you would be trading AUDUSD this week, consider this perspective.
The pair has been consolidating for much of the past seven weeks. However, the downward trend that started in March 2013 is not yet broken. Recent price action on the weekly time frame is around a weekly S/R zone. Last week a piercing-like bearish candlestick formed on the weekly time frame but the previous week’s candlestick was a relatively larger bullish candlestick. Momentum for further bearish move is likely to result from a break below the counter trend line (magenta colour) on the weekly time frame. Details on this and one other pair are given at weekly technical outlook.
I may be wrong. Trade safe and prosper.
KP
The pair has been consolidating for much of the past seven weeks. However, the downward trend that started in March 2013 is not yet broken. Recent price action on the weekly time frame is around a weekly S/R zone. Last week a piercing-like bearish candlestick formed on the weekly time frame but the previous week’s candlestick was a relatively larger bullish candlestick. Momentum for further bearish move is likely to result from a break below the counter trend line (magenta colour) on the weekly time frame. Details on this and one other pair are given at weekly technical outlook.
I may be wrong. Trade safe and prosper.
KP
Do your homework, follow the footprints of smart money
