Friday, August 30, 2013

30 August 2013

GBPAUD - D closed a hanging man doji at the end of a run up, typically signalling a move down. 4hr in a triangle and testing the lower trend line and also the 7 August high. Not sure which way we will react no bias.

EJ - D closed a doji, RSI under 50 level and we are below the 8lwma. The current 4hr open candle is testing the lows. I suspect down but we can react higher. Bias down.

EURAUD - D closed negative to complete an evening star pattern off the 1.5000 resistance level. 4hr lower high lower low flow down. We are approaching a support level and then the W pivot at 1.4726. Below that the target could be the 16 August highs around 1.4625.

AUD - D closed a shooting star failing to go lower, 0.8900 held. 4hr has signalled a counter trend buy with RSI cross up. It remains to see whether this is anything other than a rally in a downtrend. With the current troubles facing the world its quite likely that the flight to safety, typically to the US$, will continue.

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