empty
 
 
27.04.2012 09:50 AM
EUR/JPY Structure Is Constructive For Bulls
This image is no longer relevant

Technical outlook and chart setups:

The AUD/USD pair has resumed its rally towards the levels of 0.8030 and 0.8300, subsequently, as depicted here. Bulls seem to have regained control for now and immediate support is seen at the levels of 0.7740 and 0.7650-60, while resistance is seen at the levels of 0.8020 and 0.8300, respectively. A push above the 0.7900 handle would bring the pair in the buy zone of the resistance line and rally is expected to accelerate. It is hence recommended to remain long and also to look to add further positions with risk below the levels of 0.7700. A push through the the level of 0.8300 would confirm that the AUD/USD pair has reversed its trend for times to come.

Trading recommendation:

Remain long. Stop is at 0.7600, target is 0.8300.

Good luck!


Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $9000 more!
    In May we raffle $9000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback