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Intraday commentary on patterns

AUDUSD Morning Star (Doji) Hourly Chart

Tue, Jul 31 2012, 15:02 GMT
by Mark De La Paz | FX Instructor

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Resistance: 1.0539 minor / 1.0573 minor
Support: 1.0515 moderate / 1.0481 strong / 1.0457 moderate

AUDUSD has a bullish bias with Morning Star (Doji) in Hourly charts suggesting a further push higher. As a high level pattern aggressive buys may be taken with 1.0539 as the immediate objective break of which opens the possibility of a run to 1.0573. Stop losses ideally should be placed below 1.0515. Proximity to 1.0515 would be ideal.

Learn more about the chart patterns and how to recognize them in our Learning Center: Japanese Candlesticks - A Way To aLook At Prices

Published On Tue, Jul 31 2012, 15:03 GMT Previous entries

Mark De La Paz

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Mark's interest in financial markets has been an ongoing affair, starting from college, where he dabbled in the local equity markets with his college fund. Finishing his BA in Public Administration, Mark remained passionate about trading, and started out working in the niche brokerage business among bank traders.

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Intraday commentary on patterns

AUDUSD Morning Star (Doji) Hourly Chart

Daily Live Trading Room

Mark De La Paz

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Legal disclaimer and risk disclosure

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