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Audusd weekly-analysis-26-july-2010

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Audusd weekly-analysis-26-july-2010

  1. 1. AUDUSD Weekly Analysis 26-July-2010 www.TopPips.com Disclaimer: There is a very high degree of risk involved in trading. In any market where a potential for profit exists, there exists also a risk of loss. Forex trading is a risky business. You should only trade with money that you can afford to lose. In case of loss, the amount should not affect your lifestyle and your family’s in anyway. None of the information on our website nor any information or education provided to the reader by any means assures that the reader will make money in the Forex market. Neither the au- thor nor the publisher will be responsible for the use or misuse of the information contained herein. The information contained in this ebook is for information purposes only. It is not intended as professional advice or a recommendation to act. Before engaging in any activity mentioned in this ebook, seek the advice and consultation of a competent professional. All trademarks mentioned herein are the property of their respective trademark owners.
  2. 2. AUDUSD Weekly Analysis Alternate suggestion: If price fails to break 0.9000 level and we see reversals then consider going short targeting 0.8900, 0.8850. This would be an aggressive counter trend trade. Weekly Trend Direction: Bullish Chart Weekly Trend Reversal Level: 0.8600 Key Support Levels: 0.8890, 0.8840, 0.8800, 0.8760, 0.8700 Key Resistance Levels: 0.9000, 0.9100, 0.9230 Entry Strategy: Buying dips in an uptrend at support levels, while market trades above trend reversal level Trade Suggestion: This pair finally broke above key resistance level at 0.8850 and made a new high at 0.8970. It is now moving in a bullish channel. It also has got daily bearish trendline key resistance at 0.9000 level, it is a psychological big number as well. By breaking out of 0.8850 strong resistance level, it is now facing strong sup- port at 0.8850. This pair may pull back to 0.8850 level where bullish trend line sup- port also comes in, before making another move up. 0.8900 level is acting as a support on this pair, the prices may bounce off from this level even without reaching 0.8850 support. On a conservative basis our suggestion is to go long at 0.8850 level after we see prices bouncing off from this level proving as support. As a matter of fact a strong resistance is likely to turn into a support in terms of price action. If prices break above trendline resistance and 0.9000 level , it will open up doors targeting 0.9100 , 0.9186 & 0.9336. A failed attempt to break above 0.9000 level will push the prices to 0.8850 level where it has strong support Our suggestion is to consider going long at 0.8850 level on a conservative basis which gives a good risk to reward, targeting 0.8900, 0.9000, 0.9100, 0.9186 followed by 0.9336.. Aggressive trade is to go long at 0.8900 targeting towards 0.9000, 0.9100, 0.9186 followed by 0.9336. Read Latest Analysis At www.TopPips.com Join Live Trading Room At www.TopPips.com
  3. 3. Risk Warning The risk disclaimer is meant to inform the user of the potential financial risks of en- gaging in foreign exchange trading. The transaction of such financial instruments known as forex, fx, or currency, and dealt on a valued basis known as ‘spot’ or ‘for- ward’, ‘day trading’ and ‘option’, can contain a substantial degree of risk. Before deciding to undertake such transactions with any other firm offering simi- lar services, a user should carefully evaluate whether his/her financial situation is appropriate for such transactions. Trading foreign exchange may result in a sub- stantial or complete loss of funds and therefore should only be undertaken with risk capital. The definition of risk capital is funds that are not necessary to the survival or well being of the user. We strongly recommends that a user, who is considering trading foreign exchange should obtain a clear and accurate understanding of the risks inherent to fx trading. Opinions and analysis on potential expected market move- ments contained within the FirePips.com website are not to be considered neces- sarily precise or timely, and due to the public nature of the Internet, TopPips.com cannot at any time guarantee the accuracy of such information. Trading online, no matter how convenient or efficient it may be, does not neces- sarily reduce the risks associated with foreign exchange trading, and TopPips.com does not accept any responsibility towards any customer, member or third party, acting on such information contained on the website as to the accuracy or delay of information such as quotations, news, and charts derived from quotations.

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