AUD,NZD/Technical Analysis

AUD/USD technicals: Scope now to test top of weekly wedge

     The bulls seem to be back in control here at the moment and there is scope for a move towards the top of the weekly wedge near 1.0600.

  1. lovely. added to short on the spike. I agree that 1.06 is the next target, but not before US elections are done. I like short here. EUR/AUD looks vulnerable for more commotion, though…. Hedged it with short ES (if one would believe that as a hedge). I wonder what Europe says ones it is open.

  2. EUR/USD intraday rally is quite possible, but recently EUR looked quite soft to me. Not sure I want to play it on a long side. I am thinking about finding a point to sell it, but only after election.

  3. Sean,

    If we supposed that the bulls have control and they target at 1.0600, moreover we have convergenge of points : 200 MA daily (1.0333) + 100 MA daily (1.0342)+55 MA daily (1.0345). Its points could hold the price above 1.0330 but i don’t know the perfect entry point for a dip buyer ??? So if i buy a tiny position first between 1.0400-1.0350 to build up with SL below 1.0330, i could wait and see how the market developps. What do you think with this trade idea ?

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