Aud/usd

predator

Member
90 1
As the price has reached the level of support, I think that now it will go up and will pass the 0.7281 mark.

audusd.png
 

tomorton

Legendary member
7,250 969
I tend to agree.

Price is up on the last month, so I already have this as a candidate for a short-term long. But we have a (gently) ascending triangle that would usually point towards a long opportunity as price breaks out to the upside above say 0.74. For a classic swing trader, this is a potential buy as early as Monday, e.g. if Thursday's low holds but its high is breached.

PS - I'm never very convinced by very very long-term trendlines but there is an ascending trend line from 2001's low through 2008's. The ascending triangle straddles this line suggesting it has some significance.
 

predator

Member
90 1
There is a bearish trend developing on AUD/USD pair.

audusd.png