Hi friends,
Quick market update…
One of the pairs I think that will make a big retrace on the next weeks period, is AUDNZD. I explained that on my weekly reviews lately, but now the pairs is making something very interesting.
It tried to created a double bottom of Adam & Eve pattern, and it seems it will try to break it now.
Here it is (Click to enlarge):
If it manages to break it, it can take the next level on the down move:
1.1740, 1.1650 and 1.14 – 1.15 range even. BUT the most interesting thing is about to happen right after that, I think we will see an uptrend right after that, with 1.2150-1.23 as first target range, and maybe, only maybe, even 1.26.1.27 range as final one.
Here is the weekly chart (click to enlarge):
Another note, don’t forget that Bernanke is about to have his speech and about to release his economic projections tomorrow.
Stay tuned!!!!
Yours,
Vladimir Ribakov
GDP growth is one of the most important indicators of economic health. But does stronger…
When it comes to fundamental Forex analysis, few institutions matter as much as the Federal…
Interest rates are one of the most important fundamental forces in the Forex market. But…
The latest U.S. employment report has delivered a significant warning for the market. With only…
The Forex market does not always offer clear trading opportunities. Sometimes, price moves sharply in…
Open social media for a few minutes and you can easily find someone talking about…
View Comments
Awesome post.