FX: slow start to the week: By Mary McNamara

It’s been a slow start to the week with the Aussie being the only FX pair to make a trend line breakout move. Most currency pairs are still trading within the patterns I had framed them in for my weekend post so check that if needs be.

USDX daily: a slow start to the week here too:

Trend line breakout and new TC signals:

AUD/USD: I Tweeted this new trade signal yesterday morning. In this Tweet I said I was taking this new TC signal even though the trend line had not yet broken as the Risk of just 20 pips was low. The target for this move is up at the 4hr chart’s 61.8% fib which is near previous S/R at 0.80 and would deliver 190 pips if successful. It’s a bit of a surprise as the Aussie doesn’t usually work that well with TC but let’s see how this trade goes!

AUD/USD 4hr: price is now back struggling at the previously broken 5-year bear trend line so watch this level for any new make or break:

AUD/USD 15 min: this has delivered 2 R already:

Leave a Reply

Your email address will not be published. Required fields are marked *