Here is a trade I took countering the trend , very risky but it paid off
I have marked out where I see the pound yen moving to the two areas where I can see potential breakdown of a trend going south
Happy trading everyone
Good morning everyone
I will be going through at least ten pairs today giving you my thoughts and analysis and why I feel the way I do on each analysis. Today looked at Aud usd from a friend of mine who pointed this one out. I can see this market going back into where the buyers were first dominant plus I like to buy stuff cheaper than retail price: so my if...
The short-term expectation is a likely drop in price to about the 290.00 level before a last push by buyers to the -0.27 Fibonacci Level.
Trade with care. Use a strategy you have tested and verified.
More Than Just Trading.
Today RBA Cut the the Key Interest Rate by 25 basis points From 1.75 to 1.5 as Consensus suggested.
The Australian Dollar rallied and now has formed a Bearish RSI Divergence on the 4 Hour chart after Hitting Important Resistance of 0.7620-30 looks Like it will pull back a bit at least to 0.7540 which also a important support and fib level before rallying...