AUD,NZD/FXWW News/Trade Ideas

AUD/USD: Sticking with longs, headed for 96 cents in next few weeks

Support levels near .9130/50 held yesterday despite some very heavy pressure and with the USD taking a beating across the board, we can expect a test of vital resistance levels at .9330/50 at some stage today. I believe a base is in place, this resistance will break and we will be trading close to more neutral levels around 96 cents in a few weeks.

Short-term parameters probably .9230/.9300 in early trade.

Thanks very much to those who came along last night, it was nice to get away from the screens for a while. If my trades keep performing so well after get-togethers, we might have to plan one every evening 🙂

  1. Very good to meet up and I second that notion of a weekly catch up as my gold analysis proved especially prescient while we were drinking! (Click my name to see update from yesterday morning.)

    Also mentioned a video last night depicting 1/2 a second of HFT (high frequency trading) in one stock – Johnson and Johnson. It gives you an idea of what us retail guys are up against in these highly technological times. http://www.youtube.com/watch?v=B_k_elbBz8c

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