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Weekly forecast Australian Dollar / US Dollar technical chart
Symbol AUDUSD

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Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Buy Zone (0.8770 to 0.8630). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

We would set buy orders based on Daily-Trading-Opportunities and expect to reach short-term targets.

  • Beginning of entry zone (0.8770)
    • Resistance on 01/24/2014
    • Support on 01/21/2014
    • Support on 01/17/2014
    • Support on 01/16/2014
    • Trough on 08/26/2010
    • Trough on 08/25/2010
    • Support on 08/25/2010
    • Peak on 09/18/2009
    • Peak on 09/17/2009
  • Ending of entry zone (0.8630)
    • Trough on 07/20/2010
    • Trough on 07/19/2010
    • Support on 07/19/2010

DateAugust 30, 2014 - 13:05
Currentrange bound
Forecastresumption of uptrend

Midterm forecast:

  • There is no trend in the market and the price is in a range bound, but we forecast resumption of uptrend.

Technical analysis:

  • A peak is formed in daily chart at 0.9345 on 08/22/2014, so more losses to support(s) 0.9280, 0.9135, 0.9035 and minimum to Trend Hunter Buy Zone (0.8770 to 0.8630) is expected.
  • Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
  • Relative strength index (RSI) is 52.

Take Profits:

  1. 0.9035
  2. 0.9135
  3. 0.9280
  4. 0.9415
  5. 0.9530
  6. 0.9715
  7. 0.9915
  8. 1.0145
  9. 1.0345
  10. 1.0475
  11. 1.0580
  12. 1.0845
  13. 1.1075
Click on the level to view price action history.