FX:AUDUSD Australian Dollar/U.S. Dollar
lOn an hourly time frame, AUDUSD has been in down trend. On 21st Jan at 15:00 the price crossed the 200 . This shows that its getting ready to start an up trend. Last night before market closed, it touched the 20 and nearly touched the 40 . (20) is already at the oversold. We expect the price to continue in the uptrend, this is just a pullback. Pullbacks can really make you money. Volumes are really low and the candles are narrow so if this continues in the next few candles I will be looking forward in taking a long position targeting 30 pips and stop of 15 pips. Let's wait and see what the market decides.