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Forex Trade Alert for AUD/USD


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Forex Trade Alert for AUD/USD

Forex Trade Alert for AUD/USD

Australian Dollar.

02.06.2010.

The market is stalling. It may be wise to exit this trade. Market is holding below the 0.8733 level. 4xGenie Action: ==> Maintain short position. Price projection of 0.8655 has been reached. Stop at 0.9083. Wave C could drop down to 0.8300. NOTE: This is a very strong bearish sign with the lower pivot band falling lower and with today’s close below the lower pivot band. The CCI is below -100. This currency pair is oversold at this time.

A one hundred dollar Australian note
Image via Wikipedia

The Aussie dollar is headed for a test of primary support against the greenback. Breakout below $0.8733 would signal a primary down-trend while respect would indicate another test of $0.8300. Bearish divergence on Momentum Oscillator (21-day) favors a down-trend.

4xGenie Support Team

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2-8-10

5:55a GMT – A solid week of pips last week as we continued to sell the EURUSD every day of the week into a strong downtrend. In all the pair dropped a couple hundred pips and over 500 pips on the weeks high/low. That makes it nearly 1000 pips the pair has dropped in the [...]

Source: Forex Signals – EUR/USD Bearish Drops Continue
Forex signals from: PipHut.com

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US Dollar Index, Gold and OilUS Dollar Index, Gold and  Crude Oil Outlook.


The US Dollar Index

The US Dollar Index is in a primary up-trend, having broken through 80.5, and offers a target of 90.0. Reversal below the rising trendline is unlikely, but would warn of a test of primary support at 76.5.

Gold

A strengthening dollar usually signals gold weakness, but there are two factors that mitigate against this: continuing low interest rates (higher rates increase the attractiveness of alternative investments); and rising concern over sovereign debt, causing a flight to the (relative) safety of both gold and the dollar. Breakout above the declining trendline would signal a test of the January high at $1165, while reversal below support at $1080 signal a primary down-trend. A Momentum Oscillator (21-day) peak below zero would also warn of a trend reversal.New Target 1.025

Crude Oil

Crude retreating below the rising (green) trendline warns of trend weakness — and failure of primary support at $72 signal a primary down-trend. Recovery above $76, however, indicates another test of resistance at $80. New Target $68.

Top Oil Producing Countries 1960-2006
Image via Wikipedia

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2-4-10

4:14a GMT – Quick to note to everyone that the economic calendar is back up and running if you check it to avoid event risks. Nearly a picture perfect trade yesterday as the pair came right up underneath our resistance at 1.4030 (hit 1.4025) and, if you were awake and watching, gave a nice long [...]

Source: Forex Signals – EUR/USD Good Old Bears
Forex signals from: PipHut.com

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2-5-10

2:14a GMT – Yesterday’s secondary trade (sell a break of 1.4830) played out well as the pair dropped steadily and hit both targets for 125 pips. It’s been a great week of signals/trading altogether as the bearish drops have been have been fairly easy and consistent to sell. The pair has now dropped almost 1000 [...]

Source: Forex Signals – EUR/USD Another Day Another Pip
Forex signals from: PipHut.com

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