AUDUSD Update 5th November, 2014
Daily Chart
- As gold breaks serious support, AUDUSD follows with a lag
- With my other post on the DXY, its hitting resistance, so this trade could be a little more riskier
Hourly Chart
- Finally broke out of a range breaking support and new lows for the year.
- Targets are around the 0.858
Outlook Trade opportunity
If market gives a retrace back to the breakout level, zoom into a 15min / 1hr chart for entry
Risk Level - Medium
Tips -
Always take note of any economical news event on our provided calender below
DXY US DOLLAR INDEX Update - 5th November 2014
Daily Chart
- Approaching Resistance - haven't seen these levels since 2010
- Above there the next resistance is at around 89.00 however, in this range it could be very choppy according to the price action from 2004-2006
- Although False breakouts are statistically lower odds than real breakouts, the chance for a false break / or reversal are higher due to the obvious negative divergence on MACD and RSI. Perhaps we will know by end week as we have Non Farms on Friday.
Outlook Trade opportunity
Cautious at these levels
Risk Level __
Tips -
Always take note of any economical news event on our provided calender below
