The Best Cross to Trade now

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GBPAUD
Wed, Sep 16 2009, 06:32 GMT
by Rajoo C
Precise Trader

Market Insight
The Hourly Trend is Sideways Down while 19170 level holds. AUD is the Strongest Cross and GBP is the Weakest Cross now during Asian Session .The Hourly Oscillators are Bearish but Oversold but ADX is Rising with the price falling and the price is Below the MA. On the 5 min the Oscillators are Oversold with Divergence but ADX is falling which gives hope some pullback. We believe any pull back near 19065-19120 area should be an opportunity for the bears. GBPUSD is trading within Zone 1 and AUD is trading above the Res Zone 1 which supports our analysis.
Patterns
We believe that AUD is strong against at least 3 crosses but neutral against the others and should kiss the previous high 8685-8755. GBPAUD is creeping lower and has not reached its price target 18935-18730.The price has breached the previous low of 19060 level.
Today’s Strategies
We prefer to SHORT near 19065-19120 with a STOP @ 19175 with a profit target of 18935-18830 levels. Do not hold this trade more than one day and use trailing stop as it is in the final leg of the down move.
Published on
Wed, Sep 16 2009, 06:36 GMT
Archive
- EURAUD
Published On Fri, Nov 20 2009, 06:33 GMT
- NZDJPY
Published On Thu, Nov 19 2009, 06:27 GMT
- GBPAUD
Published On Tue, Nov 17 2009, 06:11 GMT
- EURSGD
Published On Mon, Nov 16 2009, 06:17 GMT
- EURUSD
Published On Fri, Nov 13 2009, 06:24 GMT
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