On AUDUSD 031017
Just read about the RBA's concern over housing bubble, china retail, and about pushing the AUD down. They all are very bearish. Hence comparing to the strengthening USD, I had a look at what the chart looks like.
Both H4 and D1 clearly show a down trend. There is a major support line being violated on both timeframes. This support line extends even back to 2007, that's a woa that's so cool.
The D1 shows a straight down candlesticks while the H4 shows it's retesting the resistance which hopefully can show better confirmation about the direction.
The last two candlesticks in square are indecisive from both seller and buyer. I'm still getting used to reading price actions, if I remember correctly the first one is a spinning top indicating indecision, the second one is at the time we speak since it's less then 8 minutes before closing is a hammer or a shooting star. I'm really unsure because the candlestick is after the trough.
Even better, it does look like the candlestick and the SMA100 will eventually meet together (One can only wish). If that's happening, it'll be traders' favorite position to take.
Both H4 and D1 clearly show a down trend. There is a major support line being violated on both timeframes. This support line extends even back to 2007, that's a woa that's so cool.
The D1 shows a straight down candlesticks while the H4 shows it's retesting the resistance which hopefully can show better confirmation about the direction.
The last two candlesticks in square are indecisive from both seller and buyer. I'm still getting used to reading price actions, if I remember correctly the first one is a spinning top indicating indecision, the second one is at the time we speak since it's less then 8 minutes before closing is a hammer or a shooting star. I'm really unsure because the candlestick is after the trough.
Even better, it does look like the candlestick and the SMA100 will eventually meet together (One can only wish). If that's happening, it'll be traders' favorite position to take.
Feragatname
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