{"id":20005,"date":"2011-03-09T09:45:33","date_gmt":"2011-03-09T14:45:33","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=20005"},"modified":"2011-03-09T09:45:33","modified_gmt":"2011-03-09T14:45:33","slug":"audusd-rally-impending","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2011\/03\/09\/audusd-rally-impending\/","title":{"rendered":"AUD\/USD Rally Impending"},"content":{"rendered":"

By Greg Holden<\/strong><\/p>\n

A brief look over our technical charts reveals a possible opportunity to earn a quick buck on the AUD\/USD<\/a>.<\/p>\n

The pair has been trading within an ascending wedge formation since October 2010. As the latest downturn has pushed the price of the AUD\/USD<\/a> to its lower trend line, the pair should rally sometime in the near future.<\/p>\n

Our oscillators do not appear to be signaling this impending move very strongly, which means some dips in value could yet occur.<\/p>\n

Looking at the chart below, the Stochastic (slow), while in a descending price pattern, has not yet entered the over-sold region, nor formed the necessary bullish cross to indicate an impending uptick. Nevertheless, the oscillator is rapidly approaching this point which means we could see it fully developed in the next day or two.<\/p>\n

Moreover, the MACD is also showing some mixed signals. While this indicator is signaling bearish crosses, they appear to be just slightly above the 0 line, meaning the downward pressure is perhaps too weak to make a solid impact.<\/p>\n

Overall, the ascending wedge pattern is the strongest technical force in this pair, it appears, and the lower trend line should have the most impact on its price for technical traders.<\/p>\n

As such, traders may want to get in on the price action after the AUD\/USD<\/a> bounces off the 1.0050 price line and rallies back towards 1.0200 (and possibly 1.0300) within its currently tightening range.<\/p>\n

AUD\/USD \u2013 Daily Chart<\/strong><\/p>\n

\"\"<\/a><\/p>\n

Forex Market Analysis provided by ForexYard. <\/a><\/strong><\/em>
\n<\/a><\/strong><\/em><\/p>\n

\u00a9 2006 by FxYard Ltd<\/p>\n

Disclaimer: Trading Foreign Exchange carries a high level of risk and may not be suitable for all investors. There is a possibility that you could sustain a loss of all of your investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with Foreign Exchange trading.<\/p>\n","protected":false},"excerpt":{"rendered":"

The pair has been trading within an ascending wedge formation since October 2010. As the latest downturn has pushed the price of the AUD\/USD to its lower trend line, the pair should rally sometime in the near future.<\/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-20005","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/20005","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=20005"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/20005\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=20005"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=20005"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=20005"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}