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Forex4you Technical Analysis 8 April 2011

Discussion in 'Technical Analysis' started by forex4you, Apr 8, 2011.

  1. forex4you

    forex4you New Member

    Jul 13, 2010
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    AUD/USD: technical analysis
    Whilst the long rally on AUD/USD looks overextended, and Elliot wave counts and point and figure counts are indicating the trend may be close to reaching a conclusion, there is no evidence from price itself that that this is the case, so the bullish trend remains intact. Short term, there is a target on the 3 x 0.0005 chart at 1.0550 and the upper channel of the recent move up at 1.0560, so it is possible that this level may provide the next target higher.


    Forex broker | Forex
    Analysis by: Joaquin Monfort
    Forex4you analyst

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