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Forex4you Technical Analysis 12 May 2011

Discussion in 'Trading Strategies & Systems' started by forex4you, May 12, 2011.

  1. forex4you

    forex4you New Member

    Jul 13, 2010
    Likes Received:
    AUD/USD: technical analysis
    The AUD/USD failed to move higher after breaking out of the triangle and then reversed trend abruptly and has fallen down to the 1.0600s. The larger bearish trend seems to have gained the upper hand and is pushing prices lower and it will probably continue, given the bearish targets on the 0.0005x3 and 0.001x3 charts at 1.0500 and 1.0490 respectively.


    Forex | Foreign Exchange
    Analysis by: Joaquin Monfort
    Forex4you analyst

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