For Traders

Analytical Reviews

Technical analysis

07.01.201513:20 Forex Analysis & Reviews: Technical analysis of AUD/USD for January 7, 2015

Long-term review

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Overview:

According to the previous events, the price of the AUD/USD pair is still trading between the levels of 0.8060 and 0.8103. Moreover, it should be noted that the market was quite stable and the downward trend was also evident. Futhermore, in the same way, the range will be around 158 pips this week. Additionally, the value of 38.2% Fibonacci retracement levels is 0.8103 so the key level of 0.8103 is available for a downtrend to confirm the bearish market. Therefore, sell deals are recommended below the 0.8103 level with targets at 0.8077; it will resume towards 0.8056 in order to test the weekly support 1. It should be noted the descending movement will probably be lower than 0.8056 level to test the double bottom at the level of 0.8035.

Intraday technical levels:

Date and time: 7/01/2015 12:20

Pair: AUD/USD

R3: 0.8219
R2: 0.8188
R1: 0.8132
PP: 0.8101
S1: 0.8045
S2: 0.8014
S3: 0.7958

Note:

Please check out the market volatility before investing, because the sight price may have already been reached and the scenarios would become invalidate.

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.