Forex Trading Strategy on Aussie Nov 2nd – Has Uptrend Resumed?

June 28, 2011 by  
Filed under Forex Trading Strategies


The Aussie remains in an uptrend to 1.1075 The first strike of channel resistance at 1.00 ended a trend sequence. Tthe fact the correspondng correction was simple suggestted a complex correction. Well we have seen a complex consolidation and now that Aussie is trying to break up through 1.000-25 suggests the uptrend could well have resumed to channel resistance now at 1.0175. Failure though to sustain current strength signallled by a loss at any point of 99.15 would return to a consolidation more in line with the previous correction allowing 96.50 and even channel support probably at the 38.2% retacement of 95.30 . From there or a rally thru channel resistamce, the Aussie shd head for a more aggressive 5=1 target of 1.0420. Only a loss of 94.05 suggests a lack of momentum with 92.20 overlap reversing.

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Forex Trading Strategy on Aussie Nov 2nd – Has Uptrend Resumed?

June 28, 2011 by  
Filed under Forex Trading Strategies


The Aussie remains in an uptrend to 1.1075 The first strike of channel resistance at 1.00 ended a trend sequence. Tthe fact the correspondng correction was simple suggestted a complex correction. Well we have seen a complex consolidation and now that Aussie is trying to break up through 1.000-25 suggests the uptrend could well have resumed to channel resistance now at 1.0175. Failure though to sustain current strength signallled by a loss at any point of 99.15 would return to a consolidation more in line with the previous correction allowing 96.50 and even channel support probably at the 38.2% retacement of 95.30 . From there or a rally thru channel resistamce, the Aussie shd head for a more aggressive 5=1 target of 1.0420. Only a loss of 94.05 suggests a lack of momentum with 92.20 overlap reversing.

Share and Enjoy:
  • Print
  • Twitter
  • Digg
  • Sphinn
  • Tumblr
  • del.icio.us
  • RSS
  • Facebook
  • Mixx
  • MySpace
  • Reddit
  • Technorati
  • Google Bookmarks
  • Blogplay
  • Yahoo! Buzz
  • LinkedIn
  • Fark
  • StumbleUpon
  • Suggest to Techmeme via Twitter

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