AUDUSD Forecast January 7, 2015, Technical Analysis
The AUDUSD pair broke down during the course of the day on Wednesday, finally breaking down below the uptrend line that has been holding it up for some time.
The AUDUSD pair broke down during the course of the day on Wednesday, finally breaking down below the uptrend line that has been holding it up for some time.
The USDJPY pair fell during the course of the session on Thursday, as we continue to grind our way down to the 120 handle.
At this point in time, we believe it’s pretty much a foregone conclusion that the market is going to reach down to the 1.05 handle. However, there isn’t much in the way of room between here and there so we believe that shorting this market off of short-term time frames will be about the only way to go.
The AUDUSD pair rose during the day on Monday, but struggled to make any real gains.
The AUDUSD pair went back and forth during the day here on Monday, as we continue to see interest somewhere near the 0.72 level.
AUDUSD stays in the trading range between 0.6907 and 0.7439. Resistance is at 0.7439,
The USDJPY pair broke higher during the course of the session on Tuesday, testing the 120 level.
The AUDUSD pair went back and forth during the course of the day on Tuesday, eventually closing with a fairly negative looking candle.
The AUDUSD pair initially fell during the course of the session on Tuesday, but turned back around to find a very positive candle at the outcome.
AUDUSD’s downward movement from 0.8162 extended to as low as 0.7037.