Aussie Versus Dollar and Kiwi August 17th

FX Strategy Video > Currency Pairs Analysis

The AUD/USD fell on Tuesday, only to bounce back up and form a hammer. Now we have to ask questions of the 1.05 area - and we could see those questions get answered on Wednesday. The closing of the daily candle above 1.05 would be very bullish as it confirms the hammer being a buy signal. However, if we break the lows of the hammer - it becomes a "hanging man" - a very bearish sign.

The AUD/NZD is currently testing the 1.25 to 1.27 resistance area, but looks like it isn't ready to break above. The 1.27 giving way would have this pair skyrocketing yet again. The pair looks like it will give us a signal soon, as the area is the right spot for it. If we get a bearish candle will follow through in this area, we are net sellers for the long-term. If we get a break of 1.27 - we will buy.

Published on 16th of August 2011
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