Daily Forex Education and Update AUD USD for 12 Sep 2012

Daily Forex Education And Update AUD USD For 12 Sep 2012

AUD/USD continues to riseinside the well-formedTriangle chart ...More
AUD/USD continues to riseinside the well-formedTriangle chart patternidentified byAutochartist on the dailycharts. The overallQuality of this chartpattern is rated at the 5bar level as a result ofthe low Initial Trend(measured at the 3 barlevel) and strongUniformity and Clarity(both measured at the 7bar level). Less

Daily Forex Education and Update AUD USD for 12 Sep 2012

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Overview:
AUD/USD continues to rise inside the well-formed Triangle chart pattern identified by Autochartist on the daily charts. The overall Quality of this chart pattern is rated at the 5 bar level as a result of the low Initial Trend (measured at the 3 bar level) and strong Uniformity and Clarity (both measured at the 7 bar level).
Description:

Todays Forex News is about AUD/USD. It continues to rise inside the well-formed Triangle chart pattern identified by Autochartist on the daily charts. The overall Quality of this chart pattern is rated at the 5 bar level as a result of the low Initial Trend (measured at the 3 bar level) and strong Uniformity and Clarity (both measured at the 7 bar level). This chart pattern develops in line with the prevailing uptrend visible on the daily and the weekly AUD/USD charts. The pair has previously reversed up (at point D) from the 38,2% Fibonacci Retracement of the preceding upward price impulse of this Triangle (from C to B). AUD/USD is expected to rise further toward the upper resistance trendline of this chart pattern, as is also indicated by the PowerStats analysis shown below.

Forex Trading

As can be seen from the following PowerStats chart for AUD/USD, the upper boundary of the daily Expected Price Range calculated by Autochartist (1.0510) stands very close to the upper resistance trendline of the above Triangle - which heightens the chances that this currency pair will continue to rise within this Triangle.

Forex Autochartist

For further information on this and other Autochartist products visit http://www.autochartist.com

Posted on: 05:32 PM - 12 Sep 12

Daily Forex Education and Update AUD USD for 12 Sep 2012
Daily Forex Education and Update AUD USD for 12 Sep 2012 page created by Nils Marx
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AUD/USD continues to rise inside the well-formed Triangle chart pattern identified by Autochartist on the daily charts. The overall Quality of this chart pattern is rated at the 5 bar level as a result of the low Initial Trend (measured at the 3 bar level) and strong Uniformity and Clarity (both measured at the 7 bar level).
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