September 2009

AUDUSD, Australian Dollar, NZDUSD New Zealand Dollar

AUDUSD and NZDUSD commentary, Ready for a correction ?

This past 7 days, I have seen some serious termination signals on the AUDUSD, ( Australian Vs  US Dollar ), NZDUSD (New Zealand Vs  US Dollar), its not a forgone conclusion that price will now plumet and make  a correction to the downside, but in all likleyhood these currency pairs have formed a short term high and are due for at least a consolidation.

This past 7 days, I have seen some serious termination signals on the AUDUSD, ( Australian Vs  US Dollar ), NZDUSD (New Zealand Vs  US Dollar), its not a forgone conclusion that price will now plumet and make  a correction to the downside, but in all likleyhood these currency pairs have formed a short term high and are due for at least a consolidation.

There is upper tails on the weekly candlestick chart , (see chart below) which signals upper price rejection, a typically bearish technical signal.

I see these pair as stil uptrending in the broader term, but in the short term, we may start to see prices take a breather and correct back into the previous key  support levels.

The AUDUSD could rotate back into 83 US cents, and NZDUSD back into 69 US cents respectively.

See Chart Examples Below 

The above Commentary is not financial advice and any views expressed are personal views only, you trade at your own risk..

Post a comment

GBPUSD, Cable Throws in a Pin Bar Sell Signal

The GBPUSD , Cable, Great British Pound vs US Dollar has formed yet another sell signal after the FOMC last night.
We cant help but feel that there is further Falls to come here on the Cable, given the prevailing trend is down and the degree of severe sell pressure we have seen over the last 2 weeks. The overnight pin bar reversal candlestick signal formed at the logical resistance level near 16420, and forms a confluent short trigger. the target is 16120′s and then 15990′s

2 Comments

How to Become Successful at Forex Trading

How Do You Become a Successful Forex Trader? Most people’s experience in the Forex Market is relatively short and in no way profitable. They hear about the currency market and think it is an easy way to make a lot of money in a very short space of time. Now, I am not saying this can’t be done, because for some this is true, but for the majority it’s certainly not the case. Let me explain in more detail. In the early stages of most FX trader’s career, the first trading decisions generally come from tips and recommendations from brokers, alert services, forum threads or sometimes even mutual novice trading friends.

4 Comments

Can Forex Be Taught By A Trading Coach?

Can Aspiring Forex Traders Learn From Experienced Trading Mentors and Coaches? This Article will explore the argument of weather or not a person can actually learn to trade Forex from a trading mentor or coach. So the question is … can an aspiring trader be taught to trade Forex successfully?

1 Comment

Forex Trading Is a Business

Forex Trading as a Business , Many Forex traders lose their shirt and this is mainly because they are not really prepared to put the time and study into their day to day trading activities. The concept of Trading and investing in the Forex market is like any other business, what you get out of it is relative to what you put into it.

Post a comment

Forex Video – How To Make Money Trading Price Action

A nice “live forex trade” using simple price action trading strategies. I demonstrate the Inside bar, pin Bar combo, trading with the current short term momentum.

Post a comment