Google+ Followers

Tuesday, August 20, 2013

AUD/USD TECHNICAL ARTICLE ON AUGUST 20



The AUD/USD has opened at 0.91133 on today and from the moment, the trend is seriously moving down. The trend could be easily noticed by the weekly pattern, as it shown the alternative trends. 

So, this week has stuck with the short and will give gain to the USD. This gives the belief that the pair will reach its two year low again and this could be the determinant support. Already, the trend of today is marked by the short of 70 pips. 

The notification of the trend will be extending the short and achieve the possible support of 0.89288. Moreover, the price has crossed its initial support and this strong sell will lead the path to achieve the support of 0.89288. 

The trend is considered as overbought on yesterday by the daily pattern. So, the mentioned trend of short is to be continuous until the pair reaches the oversold. 

By the technical consideration, the oversold will happen at the point of 0.88495. If the trend satisfies with the prediction, it is very sure of grabbing more than 150 pips.

No comments:

Post a Comment