Wednesday, April 5th, 2017

Hourly Aussie Forex Trading Stategies, Oct. 15th, 2010

The Aussie uptrend is showing signs of tiring in the short term. We have fallen short of the 1.0050 target and have been operating in the lower half of the upchannel for the past several days, again revealing an upside momentum loss. However the loss of upchannel support at 98.90 would allow for a pullback to the last 97.65 corrective low. This should hold on the first test for an attempt to renew the uptrend to an eventual 1.0380 target. Be wary of failure on this rally to leave the 97.65 base at risk for a deeper test of the former 95.40 low before the next stage of uptrend. Holding 98.20 would still allow for marginal new high of 1.0050 in the form of a rising wedge pattern but we are starting to suspect a larger downside correction is inevitable.

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One Response to “Hourly Aussie Forex Trading Stategies, Oct. 15th, 2010”
  1. mlawren7 says:

    fail 17/10/10

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