Fx Technical Analysis

11-24-2013

By Marco Hering
Research Director - Euro Coach
www.fxlivedaytrading.com

Hello Everyone,

I hope you all had a great weekend, I was busy today charting and was enjoying my Sunday relaxing as charting is relaxing to me. In today's Fx Technical Analysis I would like to focus on a pair that I think has some great technical trends and moves. The AUD/USD is my pair for this video and short article, and has been an aggressive mover this last week.

Let's take a look at the technical situation in the AUD/USD chart and the next upcoming setup in this pair. The pair was under heavy pressure last week as the RBA left possible further near term rate cuts on the table. AUD/USD is continuing its down trend after hitting the 50% retracement in the daily chart. A revisit of the previous lows of this year seems likely now. I will look to short this pair again in the Live trading room on pullbacks with a target of 90.05”.

Does the current Fx Technical Analysis tell me to jump in now?

NO! As you may know timing is very important in trading in fact it can be argued that timing is everything. I have no plans on jumping in at this point on this pair, I will wait as I mentioned until we see a retracement.  Please see the image below to examine some of the key levels as well as this short video I did earlier.

Don't forget me and BT are now sharing the public Twitter  channel so be sure to join us, check our our youtube channel here. Enjoy your trading!

Regards,

Marco (FT)