Is the AUD headed down next week?

I just finished looking at some daily charts and this is what I see:

AUDCAD - tried to penetrate MR1 at 1.0058 and did, but got rejected. The last attempt to break that level was in Oct 2013 and did not succeed either. Is this pair headed down?

AUDCHF - This pair is already in a downtrend and I am attaching this chart. Note the symmetry in price action between 17 Dec and 07 Mar (today). 

AUDJPY - Long bearish pin bar formed today. Price held by resistance at 93.95

AUDNZD - Has once again turned bearish after forming a triple (intermediate) top at 1.090. Downtrend has not been negated yet.

AUDUSD - Again a triple (intermediate) top at MR1 at 0.9092 and seems headed down. Downtrend is still valid.

EURAUD - A triple bounce off MS1 at 1.5125 and could be headed up. Uptrend is intact.

GBPAUD - Some penetration of MS1, again thrice and could be headed up. The trend is still bullish.

Please share your thoughts on what looks to me a very interesting situation.

Views: 112

Comment by Oasis on March 12, 2014 at 1:32pm

This blog did not get much attention - perhaps because i do not give entry/stop and target levels. So I need to pat my self on my own back as my analysis was valid. Hope some people did make a few pips as I did.


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