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 technical analysis january 2011. Show all posts
Showing posts with label aud/usd technical analysis 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.
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