![\"\"](\"http:\/\/www.real-forex.com\/charts-daily\/November2010\/AUD_DAILY_181110.JPG\")
<\/p>\n
Following an uptrend, which lasted for several months, the pair began to decrease back a few sessions ago by crossing a support level at 1.0002 and clearly closing below it. The double bottom (two daily candle having the same bottom) appeared with the candles of the two last sessions describes the end of the decreasing trend.<\/p>\n
Currently, there is a basis for a new uptrend to begin, creating the opportunity for a nice and profitable \u201cLong\u201d transaction. This opportunity requires a confirmation by the identification of an increasing configuration on 1H graph.<\/p>\n
Potential trade<\/p>\n
One-Hour graph: http:\/\/www.real-forex.com\/charts-daily\/November2010\/AUD_1H_181110.JPG<\/a><\/p>\n The required configuration should appear once the 1H resistance of 0.9835 will be crossed upward. After the identification, an adapted order can be entered.<\/p>\n –\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \u201cLimit\u201d order on \u201cLong\u201d position 10 pips above the mentioned resistance, meaning 0.9845.<\/p>\n –\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \u201cStop Loss\u201d order on the last dip occurred, meaning 0.9794<\/p>\n –\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 1st<\/sup> degree to \u201cTake Profit\u201d is on the following resistance: 0.9870<\/p>\n USD\/CAD<\/p>\n Daily graph: http:\/\/www.real-forex.com\/charts-daily\/November2010\/CAD_DAILY_181110.JPG<\/a><\/p>\n After the pair reached the parity level (1USD = 1 CAD) as a support, it reversed and started to increase back about a week ago.\u00a0 On a larger view, it seems that the pair is navigating for several months already and doesn\u2019t look like it has any specific trend.<\/p>\n Currently, the pair is making its way to the higher level of the navigation: the resistance of 1.0341.<\/p>\n Once the resistance will be reached, there are two possible outcomes:<\/p>\n 1.\u00a0\u00a0\u00a0\u00a0\u00a0 The resistance is crossed upward and is closing above it. In this case, it should be better waiting for a technical correction, looking for an increasing configuration on 1H graph, and enter your order accordingly.<\/p>\n 2.\u00a0\u00a0\u00a0\u00a0\u00a0 If the pair is stopped on the resistance, a \u201cparking\u201d for about a session and a half should confirm the fact the pair is based on the level and will not cross it. A reversing trend could be the result of such a stop; creating an opportunity to go \u201cShort\u201d after the identification of a decreasing configuration on 1H graph.<\/p>\n \n Have a profitable day!<\/p>\n Real-Forex team.<\/p>\n Sponsored by Real-Forex<\/a> | Following an uptrend, which lasted for several months, the pair began to decrease back a few sessions ago by crossing a support level at 1.0002 and clearly closing below it. The double bottom <\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-15547","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/15547","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/comments?post=15547"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/15547\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=15547"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=15547"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=15547"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}<\/p>\n<\/p>\n<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"