AUD/USD Remains Pressured Before Several Days of Event Risk

| 3 december, 2013 | 0 kommentarer

4Hour

eliottWaves_aud-usd_1_body_Picture_8.png, AUD/USD Remains Pressured Before Several Days of Event Risk

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Automate trades with Mirror Trader and see ideas on other USD crosses

AUDUSD recently confirmed a head and shoulders top. The weak right shoulder suggests an exceptionally vulnerable market.

-The 11/26 outside day allows bearish risk to be tightened to .9210. Exceeding that level would shift focus to .9250/67 (re-test of broken support).

Trading Strategy: The first target was hit at .9250. The stop on the remainder is.9210. The head and shoulders target is below the year to date low of .8847.

LEVELS: .8978 .9013 .9069 | .9135 .9168 .9203

— Written by Jamie Saettele, CMT, Senior Technical Strategist for DailyFX.com

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Kategori: Analys från DailyFX

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