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Short Term Analysis
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AUDUSD breaks above the down trend line resistance
Mon, Sep 8 2008, 03:33 GMT
by Franco Shao
AUDUSD breaks above the down trend line resistance and formed a short term cycle bottom at 0.8029 on 4H chart. Rise to test 0.8403 resistance is expected later today, a break of this level will indicate that the fall from 0.8812 has completed and further rally towards 0.8600 zone could be seen. Near term support is at 0.8029, only fall below this level will signal deeper decline to 0.7800 level.
Published on Mon, Sep 8 2008, 03:37 GMT
Archive
- GBPUSD breaks below 1.5177 key support
Published On Tue, Dec 2 2008, 02:00 GMT - USDCHF formed a short term cycle bottom
Published On Mon, Dec 1 2008, 01:11 GMT - EURUSD might be forming a short term cycle top
Published On Fri, Nov 28 2008, 02:06 GMT - USDCHF rebounds sharply from 1.1828
Published On Thu, Nov 27 2008, 02:01 GMT - USDJPY pulls back from 97.43 level
Published On Wed, Nov 26 2008, 01:40 GMT
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Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.
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