Wednesday, November 28, 2012

As I have mentioned before, the Masterchart for AUDUSD is 1500 pips divided into two equal parts of 750 pips each i.e. 0.9500, 1.0250, 1.1000. If you look at the monthly chart 1.0250 has been holding for the the past four months. The weekly candle broke it once and jumped back again and is currently consolidating between 1.0250 and 1.0420. The monthly charts says a re-test of 1.0650 is a possibility, but the weekly candle needs to break out of either 1.0250 and 1.04200 for us to know the direction.



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