We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
EUR/USD
Bullish
Oil - US Crude
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Wall Street
Bullish
Gold
Mixed
GBP/USD
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
USD/JPY
Bearish
More View more
AUD/USD Long Position Triggered Sub-1.03

AUD/USD Long Position Triggered Sub-1.03

2013-03-08 02:55:00
Ilya Spivak, Head Strategist, APAC
Share:

AUD/USD Technical Strategy: Long at 1.0238, Targeting 1.0365

Prices broke above falling trend line resistance set from late January, hinting the near-term bearish trajectory has been overturned and opening the door for a move higher. The pair is now re-testing the trend line as support and we will enter long, initially targeting 1.0365. A stop-loss will be activated on a daily close below 1.0114, the March 4 low.

Forex_Analysis_AUDUSD_Long_Position_Triggered_Sub-1.03_body_Picture_5.png, AUD/USD Long Position Triggered Sub-1.03

Daily Chart - Created Using FXCM Marketscope 2.0

Written by Ilya Spivak, Currency Strategist for Dailyfx.com

To contact Ilya, e-mail ispivak@dailyfx.com. Follow Ilya on Twitter at @IlyaSpivak

To be added to Ilya's e-mail distribution list, please CLICK HERE

New to FX? Watch this Video. For live market updates, visit the Real Time News Feed

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES

News & Analysis at your fingertips.