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May 9, 2014
May 9, 2014
The AUDUSD formed another inside bar today. This inside bar is almost the exact same size as the one we had form two days ago. Price action continues to look constructive, so the odds of reaching the .942 level remains favorable for the moment. The USDJPY has been forming a wedge since early March. The wedge
May 8, 2014
May 8, 2014
The AUDUSD continued its climb today following yesterday’s inside bar. At the time of this writing, the pair is about 50 pips from the .942 target that we’ve been eyeing all week. Although the EURNZD chart may look messy (and it is) there have been several pin bars along this down trend over the past several weeks.
May 8, 2014
May 8, 2014
The .864 level on NZDUSD represents an interesting supply and demand exchange. As can be seen in the chart below, this level has acted as support and resistance several times in recent weeks. There’s actually one more high that touched this level on March 18th that wouldn’t fit on the chart. At the moment, price action
May 7, 2014
May 7, 2014
May 7, 2014
May 7, 2014
May 6, 2014
May 6, 2014
Today, the Forex market made up for recent slowness. Several pairs made significant moves, with the AUDUSD being one of them. The pair finally showed its hand today, reacting favorably to the pin bar that formed last Friday. We already knew today’s move was likely based on yesterday’s analysis. If the pair can continue its rally, the next
May 5, 2014
May 5, 2014
Price action across the Forex market was fairly calm today. The AUDUSD is still trapped between immediate support and resistance, however the pin bar from Friday is still front and center. We have immediate support at the .922 level as well as trend line support coming in around .926. If the AUDUSD can break immediate resistance