jeremisong

jeremisong

Price broke uptrending line. Inverse 'W' forming, hitting a strong resistance. Price bounced off the key resistance line. Weakness on AUD is shown. Beware of the weakness of USD though.

jeremisong

Price broke above the down trend line accompanied by heavy volume. New up trend line forming. Strong buy. Stop loss below the up trend line.

jeremisong

The AUDUSD has been ranging for a while and it is apparently that both resistance and support levels are respected by the market. As of last Friday, the chart has formed a nice "M" shape. With the latest chart bar closed as a bearish engulfing and given Australia Central Bank is expected to reduce its interest rate, the sentiment is bearish. A sell stop should be...