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Technical analysis for the AUD/USD – 04.11.2015

Previous comments, expecting more attempts to break the barrier at 0.7215/20, confirmed. The price rose to this level, which now matches with the descending trend line (blue lines), but was pushed back down and retraced, so it’s now trading at 0.7180/90. Indicators are bullish, which gives reasons to expect further attacks of the 0.7120 mark. However, R% and MACD are less bullish, so correction within the range of 0.7120-0.7150 has all chances to continue. Growth above 0.7250 will indicate dominating bullish potential, which should take the trades back to the local high at 0.7380/90. On the other hand, if correction reaches level 0.7150, it’ll be a signal for the reversal of the bearish moods in the market. In this case, we’ll be expecting the price to test key support at 0.7080/70.

AUD041115

Dear traders, please post your comments to our forecasts and share your own opinion. Your ideas can be very helpful for the newcomers. Thank you!

Previous comments, expecting more attempts to break the barrier at 0.7215/20, confirmed. The price rose to this level, which now matches with the descending trend line (blue lines), but was pushed back down and retraced, so it’s now trading at 0.7180/90. Indicators are bullish, which gives reasons to expect further attacks of the 0.7120 mark. However, R% and MACD are less bullish, so correction within the range of 0.7120-0.7150 has all chances to continue. Growth above 0.7250 will indicate dominating bullish potential, which should take the trades back to the local high at 0.7380/90. On the other hand, if correction reaches level 0.7150, it’ll be a signal for the reversal of the bearish moods in the market. In this case, we’ll be expecting the price to test key support at 0.7080/70.

AUD041115

Dear traders, please post your comments to our forecasts and share your own opinion. Your ideas can be very helpful for the newcomers. Thank you!



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