Forex4you - Analytics

    Forex4you

    574.00 6.50/10
    60% of positive reviews
    Real

    Technical analysis for the AUDUSD on 04.08.2015

    The AUDUSD: downtrend has turned up for correction

    Direction Period Expected price movement Price movement corridor
    ↓↑ 1 day ≈ 170 pips Max. 0.7420

    Min. 0.7250

    audusd

    Bulls broke the descending trend line at 0.7295 last week, attempting to turn the downtrend up. This morning this intention was confirmed amid the release of fundamental news in Australia.

    The fundamental factor supported further bullish development – the price broke and held above strong resistance of 0.7350. Bullish trend is expected to continue after a short-term consolidation.

    Potential growth target is situated at the closest resistance of 0.7450. The test of 0.7500 mark is also possible.

    Alternative scenario: the breakout of level 0.7350 will allow the bears to approach strong support at 0.7260 again.

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

    The AUDUSD: downtrend has turned up for correction

    Direction Period Expected price movement Price movement corridor
    ↓↑ 1 day ≈ 170 pips Max. 0.7420

    Min. 0.7250

    audusd

    Bulls broke the descending trend line at 0.7295 last week, attempting to turn the downtrend up. This morning this intention was confirmed amid the release of fundamental news in Australia.

    The fundamental factor supported further bullish development – the price broke and held above strong resistance of 0.7350. Bullish trend is expected to continue after a short-term consolidation.

    Potential growth target is situated at the closest resistance of 0.7450. The test of 0.7500 mark is also possible.

    Alternative scenario: the breakout of level 0.7350 will allow the bears to approach strong support at 0.7260 again.

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


    To leave a comment you must or Join us


    By visiting our website and services, you agree to the conditions of use of cookies. Learn more
    I agree