Hello Traders, I’m Mani and I’m the writer of Trade 77 section, please follow me on twitter for further updates.
Aussie nicely rejected from the upper bond a channel with nice two doji patterns and now struggling to break 20sma. Next support resides around the beneath bond of this channel which is 0.9900 according to my numbers.
Bias is still bullish and it would be good to go long at the beneath bond of the channel but I expect break of this channel will be start of a bearish trend and we could see 0.9800 and then 0.9500 again.
I want to mention that price is still above the weekly 20sma and it could bounce off that support barrier as well. Meanwhile weekly trendline remained intact and I think convergence of this trendline and 20sma has made a great support zone there. So long term trend is still bullish but a breakout might be occured soon.
Make sure that you are following me on twitter so you can be informed of any trade calls for this pair and if you found this post useful let your followers to read it too, so please retweet this article with the button above of the article.
Latest posts by admin (see all)
- How To Plan a Trade From Start to Finish - May 3, 2016
- How To Trade The Eur/Usd Right Now - April 29, 2016
- Eur/Usd Could Move Higher Based off of Support Pin Bar - February 19, 2016
Winner’s Edge Trading, as seen on: