You are not logged in.
- Trader, Analyst and webmaster for Forex-Tribe
- Registered: 07-12-2008
- Posts: 30907
- Reputation : 2
Share this topic :
AUD/USD : Back on the major daily resistance at 1.06
I advise traders to trade only long positions as far as 1.0525 is support.
A stay above 1.0550 will strengthen this bullish sentiment.
A break of 1.06 will give then a new buy signal for an extension of the bullish movement towards 1.0650 or above this level is also broken.
In case of return of below 1.0525 then I will advise traders to wait a downward break of 1.05 (channel output) before trading short positions.
AUD/USD 1h chart