AUDUSD has been moving in a steady uptrend, trading above an ascending trend line connecting the latest lows of price action. Price recently made a swing high near the .7350 minor psychological level before showing signs of a pullback.
The EURUSD pair rallied during the day on Tuesday, bouncing above the 1.06 handle.
The AUDUSD pair broke higher during the day on Tuesday, clearing the 0.73 level.
At this point in time, we believe it’s pretty much a foregone conclusion that the market is going to reach down to the 1.05 handle. However, there isn’t much in the way of room between here and there so we believe that shorting this market off of short-term time frames will be about the only way to go.
The AUDUSD pair rose during the day on Monday, but struggled to make any real gains.
NZDUSD has been on a selloff but it looks like a reversal may be in order. Price is forming an inverse head and shoulders pattern on its 4-hour time frame, with an upside break of the neckline at the .6600 handle likely to send the pair up by 200 pips or the same height as the formation.
The AUDUSD pair initially fell during the course of the day on Thursday, but then turned back around to form a bit of a hammer.
The EURUSD pair went back and forth during the course of the day on Monday, as we continue to struggle to keep any gains at this point in time.
The AUDUSD pair went back and forth during the day here on Monday, as we continue to see interest somewhere near the 0.72 level.
The USDJPY pair went back and forth during the day on Friday essentially settling nothing.
