Welcome to my Trading Blog

Disclaimer: This is my personal Blog, reflecting my very own views on Forex , shares and commodity tradings. As such, all informations provided here are barely for information purposes only,. The author should not be held liable for any errors, incomplete information, delayed messages, or for any actions taken in reliance on information contained herein.This blog is new, being established on 06,May.2010. While I am executing trades, posting will be sent simultaneously. The date/Time indicated here is of US Pacific zone(++15 Hours for Singapore/KL/Beijing, Or ++7 hours GMT)

Sunday, August 8, 2010

AUD/USD----- When will it be back below 0.8900 ?

Aud/ Usd is a very interesting pair which has maintained its strength for prolonged period partially due to the weakness in the Dollars recently.


H4 AUD/USD Chart







Daily Chart AUD/USD


Weekly Chart AUD/USD


On the Daily Chart, we can see that resistance 1  at 0.9184  is a very important Resistance/Suppport.  The possibility of  breaching 0.9261, being the Resistance 3 on the daily chart cannot be discarded.

However, the presence of  bearish sentiments on H1/H4/Daily charts are signalling us that the reversal may be on sight near term.

On H4, the next immediate support is 0.9096 (61.8% Fibo Retr), breaking it may expose 0.9022, and 0.8976 (being 38.2% and 23.6% Fibo Retr  Respectively), and then  0.8900 (0.00 Fibo Retr)

Please do note the formation of  Bearish triple tops on weekly charts is being finalised soon

In short, AUD/USD may reverse and dip below 0.8900 soon.

No comments:

Post a Comment