$AUDUSD- Break?
Currently we are at 1.0237 after the break of the 240 min downtrend. Looking for the move to go to the R3 @ 1.0257. There (day chart trend wall) we could either break out there north- Target is then the R4 @ 1.0346. Or break down back to the R2 @ 1.0202 area. The current average daily trading range (ATR) is 74 pips.
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Comment by talisman on March 5, 2013 at 2:50pm
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in your opinion is the down side more probable ? or would you weight the chances even
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Comment by Scott Barkley on March 5, 2013 at 5:00pm -
I will just wait until it proves it
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Comment by Peter jcp on March 5, 2013 at 5:46pm -
Hi Scott and Talisman - have not traded AU today - but had been thinking it was gathering some buy orders and trying to shrug off OB's at the same time before a go over 0255 and 0260. However if it cannot make it then I am selling under 0216 and 0195- meanwhile it's teasing with the LH;s but still posting HL's - so triangle with a break out expected - but could the first one be false ? GL
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Comment by Forex Pro on March 5, 2013 at 5:53pm -
It will be interesting to see. I am short at present and seems like pair has attempted but failed to break the R. There is data in asian session and I will be watching it closely, even data comes out +ve I still expect it to remain under pressure.
let's see ....
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