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Forex4you Technical Analysis 17 May 2011

Discussion in 'Trading Strategies & Systems' started by forex4you, May 17, 2011.

  1. forex4you

    forex4you New Member

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    AUD/USD:technical analysis
    On a longer term basis the aussie remains in a strong uptrend although shorter term it is going sideways. Given the fulcrum shaped reversal pattern at the lows and the fact the 0.001x3 is in an uptrend - the probabilities lean slightly towards higher prices with a break above the highs at 1.0615 as a key requirement. If so the the target at 1.0670 is reachable, followed by 1.0730.

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    Forex | 外匯
    Analysis by: Joaquin Monfort
    Forex4you analyst

    Disclaimer: Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.
     
    #1 forex4you, May 17, 2011
    Last edited: May 17, 2011
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