This pair continues to consolidate in an ever tighter range. We are probably in the last wave of a triangle and it may be the last wave is a little triangle in itself, in which case we are either in A or C of that smaller pattern. In either case the consolidation is likely to near an end soon and afterwards there will probably be a breakout.
Showing posts with label aud/usd january 2011. Show all posts
Showing posts with label aud/usd january 2011. Show all posts
Monday, January 31, 2011
AUD/USD | Technical Analysis | 31 January 2011
AUD/USD | Technical Analysis | 31 January 2011
As I have said in previous pieces the breakout will probably be bearish given the: “signs of exhaustion in the longer term trend.” Although as always with triangles caution should be exercised; however, taking the width of the range as a guide one could possibly predict a fall to 0.9580 or support and resistance at 0.9655.
more AUD/USD Technical Analysis
Friday, January 28, 2011
AUD/USD | Technical Analysis | 28 January 2011
AUD/USD | Technical Analysis | 28 January 2011
There is every chance it will follow through and reach the strong resistance levels at parity or just above. From there it is possible it will reverse and fall back to 0.9925 initially, before breaking out of the triangle to the downside, although confirmation should be sought before acting.
more AUD/USD Technical Analysis
This pair is still in the sideways consolidation which began on the 12th January. This may have taken the form of a triangle - the E and final leg of which we may be in now. The exchange rate began to reverse and rise this morning and has now reached the 0.9970s.
Friday, January 21, 2011
AUD/USD | Technical Analysis | 21 January 2011
AUD/USD | Technical Analysis | 21 January 2011
Further downside would be expected to target the support and resistance level at 0.9790 and then further down at 0.9660. There is a chance of bounce in the short term too however, with 0.9955 as a possible upside target.
more EUR/JPY Technical Analysis
The overall trend seems to be down, particularly after yesterday’s breach of a major trend-line up from the June ’10 lows. Nevertheless there is some support at the current lows including the border of the Ichimoku cloud but it is thin at that point indicating potential weakness.
Thursday, January 20, 2011
AUD/USD | Elliott Wave Count | Fibonacci Levels | 20 January 2011
AUD/USD | Elliott Wave Count | Fibonacci Levels | 20 January 2011
Assuming that the medium term trend is up it's preferable to use oversold readings of the Detrended Oscillator or its cross below the zero level. The Oscillator is now below the zero and has already crossed it once. The level to watch for long positions is 0.9940-39.
more AUD/USD Technical Analysis
The AUD/USD is developing corrective wave B of medium term uptrend - colored magenta in the chart. The targets of the corrective downwave are Fibonacci retracements of 0.9803-1.0076, 0.9855-1.0076.
Supports:
- 0.9940-39 = confluence area of .618 and .50 retracements
- 0.9907 = .618 retracement
If the uptrend continues and the price breaks above 1.0076 the nearest resistances will be Fibonacci retracements of 1.0255-0.9803.
Resistances:
- 1.0082 = .618 retracement
- 1.0148 = .764 retracement
Overbought/Oversold
Wednesday, January 19, 2011
AUD/USD Technical Analysis |19 January 2011
AUD/USD Technical Analysis |19 January 2011
If this is the case then it could eventually reach as high as 1.0270, just above the wave 3 highs of 31st December. As far as a more immediate forecast goes, however, there is very little nearby overhead resistance, except perhaps the 1.0090 level but the resistance there is not significant.
more EUR/JPY Technical Analysis
This pair rose much more strongly than expected, breaking above parity and reaching its current level in the 1.0050s. The whole move up off the lows of the 12th Jan may have further to go. It is possible it could be part of a larger Elliot wave 5 up from the larger wave which began at the lows of the 1st of December.
Tuesday, January 18, 2011
AUD/USD Technical Analysis | 18 January 2011
AUD/USD Technical Analysis | 18 January 2011
This pair has rallied back up to parity as anticipated. The final wave up has touched the upper channel line of the zigzag move channelled from yesterday’s lows. This could mean it has formed a top and is about to roll over. Read more
This pair has rallied back up to parity as anticipated. The final wave up has touched the upper channel line of the zigzag move channelled from yesterday’s lows. This could mean it has formed a top and is about to roll over. Read more
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