AUD/USD - Australian Dollar US Dollar, American Session - 04/08/08

04 August 2008 @ 05:18 am EDT

0,9323. AUD USD is in an downtrend directed by 1H exponential moving averages. AUD USD is in a consolidation after the last bearish movement. The volatility is low. Bollinger bands are flat. ForexTrend 1H, 4H (Mataf Trend Indicator) is in a bearish configuration. The price should find a resistance below 0,9360. The downtrend should continue to gather momentum.
=> We could take a short position at 0,9330. We will put the stop loss above 0,9365 (-35 pips). The targets are 0,9280 (+50 pips) 0,9220 (+110 pips). Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 4.
Resistances
0,9345 - 0,9375
Supports
0,9280 - 0,9260

For more forex information, go to www.mataf.net

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