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Dynamic Trader Blog - Forex Chart Pattern Signals

Friday, September 19, 2008

AUDUSD pulls back to Monthly support

Good afternoon dynamic traders,
Hopefully you've all had a great week.
I've been keeping my eye on the AUDUSD for a potential reversal for around a week or two and now a reversal may be on its way.
As you can see on the monthly chart the overall trend of the AUDUSD has been up. Now we've had a pull back to the figure 0.8000 at an 886 also at a support level.














AUDUSD forex chart from Advanced Get

Looking on the daily chart we have a potential BOB with a multiple MACD convergence but we need to wait for the close. This is one to have on your watch list for next week.














AUDUSD forex chart from Advanced Get

The USDCAD trade is doing well, since I entered it a couple of days ago it has moved down over 200 pips. I've adjusted my stop again to lock in more profit.

I'm flying out to Dublin this weekend as I have a few meetings to attend and will not be back until late Monday evening so my next post will be on Tuesday.

Have a great weekend.
Good trading