Turtle Trader: AUD/USD

Posted by | October 4, 2012 | Currencies | No Comments

R3—1.0324
R2—1.0290
R1—1.0243

S1—1.0175
S2—1.0148
S3—1.0101


Conclusion:

- Daily AUD/USD BB Bands showing potential expansion to the downside.

- Weekly AUD/USD BB Bands showing 2 parallel lines, indicating sideway markets.
- Things they have in common are a Weak Directional Movement Index.
- This suggest the Daily and Weekly Chart might turn opposite anytime.
- However based on system based trading, on the 4 hours basis, the call for downside is fulfilled.
- Would consider selling at 1.0290(2nd intraday resistance), Stop Loss at 1.0354.
- Profit taking at intraday support (1.0175)

Note:
1) 4 hours ATR For AUDUSD is at 0.0032. ATR= Average True Range.
2) Daily ATR For AUDUSD is at 0.0090. ATR= Average True Range.

30 Mins AUD/USD Intraday Chart

AUD/USD 30min

4 Hours AUD/USD Chart

AUD/USD 4-hour

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