Day trade
Trade view / 01 September 2016 at 5:59 GMT

AUDUSD shows signs of a temporary relief rally

partner and technical analyst / 3 c analysis
United Kingdom
Instrument: AUDUSD
Price target:
Market price:

This week’s bearish signals for AUDUSD have been confirmed, with yesterday’s trading posting a third lower daily high and low in a row.

However, with prices testing the 100 Day Moving Average rate, yesterday’s signals highlighted the potential for this level to attract some profit taking buying.

Management and risk description

Buy at market and on dip and raise stop to entry if the first target is met.


Entry: Market and 0.7517, today's open in Asia.

0.7490, last month's low.

0.7594, this week's high and 0.7692, last week's top.

Time horizon:
Today only.

AUDUSD Weekly - shooting stars
AUDUSD Quarterly - 7 year lows
 Source: All charts, CQG

— Edited by Adam Courtenay

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Non-independent investment research disclaimer applies. Read more
Michael Liu Michael Liu
Hi Steve, do you still hold this position?
Steve Lucas Steve Lucas
Hi at an average of 27....signals have weakened and sweating on it, but will keep until .7490 breaks
Michael Liu Michael Liu
OK, Thank you very much!
Steve Lucas Steve Lucas
take some profit now and raise the stop to the average entry point


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