James Kim@Saxo
In this webcast, Saxo's global sales trader James Kim runs through the events of the week ahead and give his thoughts on the positioning of S&P, Hang Seng, US Dollar Index, EURUSD, USDCHF, NZDUSD, AUDUSD, USDJPY, XAUUSD.
Medium term
Trade view / 26 September 2016 at 12:45 GMT

Weekly chart says Aussie could drop from here

Technical Analyst / FuturesTechs
United Kingdom
Instrument: AUDUSD
Price target:
Market price:


The weekly chart (below) has a big downtrend line on it that has been the scene of recent failures. It's at 0.7656 this week, and we're not too far away. This allows us to set a short with a reasonably tight stop versus the potential reward.

My only worry is a hold above 0.7590 (Marabuzo support) so I'll be watching price action if/when we get to here for further clues.

Management and risk description

Once we hit the first target the stop on remaining balances can be reassesed/moved lower.


Entry:  sell below 0.7656.

Stop: a daily close above 0.7760.

Targets: 0.7430, 0.7150 and 0.7010.

Time horizon: 2 weeks plus.

Daily Candlestick

Weekly Bar chart showing the trendline.


— Edited by Martin O'Rourke

Non-independent investment research disclaimer applies. Read more
Clive Lambert - FuturesTechs Clive Lambert - FuturesTechs
This trade hasn't panned out the way we were exepcting and although we have not been stopped out I would be looking to cover at best now. It would be a small loss at current levels.


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