TheBanker
Long

Forex Market Analysis and Trading Tips 22nd March 2016 - AUD/USD

FX:AUDUSD   Australian Dollar/U.S. Dollar


SUMMARY:
The primary trend of AUD/USD             is bullish on charts and price is trading below the trend line in its 30 min. chart. In 30 min. chart the price is sustaining above 200 day SMA and is taking support of 50 day SMA indicating uptrend of the pair. It is having an important resistance at the level of 0.7626 and support at the level of 0.7565. If it breaks its resistance level on the upside and sustains above it then we can expect it to show further bullish movement in the pair.

INDICATORS:-
MACD is sustaining in its positive territory indicating the bullish trend in the pair.
RSI is sustaining in its buying zone indicating the upcoming bullish trend in the pair.

STRATEGY:
AUD/USD             is looking bullish on charts for next few trading session. One can go for buy on lower level strategy for this pair for intra day to mid term positions in it.


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Comment: Tight SL now guys
Trade closed: target reached: Was fast asleep when these hit, hope you all booked profits!
RSI looks like overbought
+1 Reply
TheBanker investor21120
yes another reason as for my exit!
Reply
Hi, thank you for your post. I did not take this trade (luckily) and just would like to learn a couple of things. Where have you put your stop loss? I would have put it below the two previous bottoms, around 75620 and price would have reached my stop (lowest price 75511). Then where did you put your TP? I would have put my target at 76500 but price did not hit it (highest price 76486).
+1 Reply
TheBanker lucas1982
Hi Lucas, thanks for your comment - I had SL trailing from under the broken trend line after we had a break and close to the upside.. wrt .76500 target, yes missed by 1.4 pips, closed around 27 in the green :) Cheers
+1 Reply
TheBanker TheBanker
29 to be precise
Reply
lucas1982 TheBanker
Thank you for the explanation. Much appreciated!
+1 Reply
Excellent!
+1 Reply
Thanks, enjoy those profits!
Reply
Solid trade call Banker. thanks!
+1 Reply
TheBanker marcus123
Pleasure!
Reply
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