James Kim@Saxo
James Kim, sales trader at Saxo Capital Markets Australia, examines trading strategies during week 43 in a technical analysis of charts for forex, indices and commodities.
Day trade
Trade view / 26 May 2016 at 6:02 GMT

Failed AUDUSD selloff points to temporary recovery

partner and technical analyst / 3 c analysis
United Kingdom

With bearish signals on the week so far being confirmed with losses of almost 1 Big Fig; Wednesday’s signals switched to temporarily bullish. These too have been confirmed as an initial improvement of just under ½ Big Fig.

The above gains were given up, but losses in Asia this morning have been recovered. The failed selloff is mildly bullish and with AUDNZD also forming a basing pattern, signals are once again pointing to a temporary profit taking recovery.

Management and risk description

Raise stop to entry if the first target is met.


Entry: Market and 0.7171, just above today's low.

Stop: 0.7144, this week's base.

Target: 0.7261, this week's high and .7341, the 100 day average rate.

Time horizon: Today only.

AUDUSD 4 Hourly - recovery to losses
AUDUSD Weekly - 62% pullback
AUDUSD Monthly - 7 year lows
All charts: CQG. Create your own charts with SaxoTrader; click here to learn more. 

For more on forex, click here.

— Edited by Robert Ryan

Non-independent investment research disclaimer applies. Read more


The Saxo Bank Group entities each provide execution-only service and access to permitting a person to view and/or use content available on or via the website is not intended to and does not change or expand on this. Such access and use are at all times subject to (i) The Terms of Use; (ii) Full Disclaimer; (iii) The Risk Warning; (iv) the Rules of Engagement and (v) Notices applying to and/or its content in addition (where relevant) to the terms governing the use of hyperlinks on the website of a member of the Saxo Bank Group by which access to is gained. Such content is therefore provided as no more than information. In particular no advice is intended to be provided or to be relied on as provided nor endorsed by any Saxo Bank Group entity; nor is it to be construed as solicitation or an incentive provided to subscribe for or sell or purchase any financial instrument. All trading or investments you make must be pursuant to your own unprompted and informed self-directed decision. As such no Saxo Bank Group entity will have or be liable for any losses that you may sustain as a result of any investment decision made in reliance on information which is available on or as a result of the use of the Orders given and trades effected are deemed intended to be given or effected for the account of the customer with the Saxo Bank Group entity operating in the jurisdiction in which the customer resides and/or with whom the customer opened and maintains his/her trading account. When trading through your contracting Saxo Bank Group entity will be the counterparty to any trading entered into by you. does not contain (and should not be construed as containing) financial, investment, tax or trading advice or advice of any sort offered, recommended or endorsed by Saxo Bank Group and should not be construed as a record of ourtrading prices, or as an offer, incentive or solicitation for the subscription, sale or purchase in any financial instrument. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, would be considered as a marketing communication under relevant laws. Please read our disclaimers:
- Notification on Non-Independent Invetment Research
- Full disclaimer

Check your inbox for a mail from us to fully activate your profile. No mail? Have us re-send your verification mail