Thursday, 19 January 2012

AUD/USD Analysis

Daily timeframe looking bullish.

- Inside bar formation
- Bullish candle today
- Moving averages pointing up
- Trend up
- Broken above 10374 resistance, 2 bounces off this support

Order to go long as per below:

STOP: 10367 (50% retrace of Mother bar candle on 17th Jan. Also off support)
ENTRY: 10453 (Break of the Mother bar candle on the 17th Jan)
LIMIT: 10693

RISK/REWARD: 3/1

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