Forex Guides

Australian Dollar Trading Plan April 2

Hello my dear friends!

Hope you are feeling good so far and having a great start of week!
Looking to my charts and searching for any good opportunity for us to trade I noticed good trading possibility on the Aussie.




Audusd: we currently found audusd in a bullish correction since early January 2014, but the overall trend is bearish. Looks like audusd have found a good resistance that you can see in a weekly chart. My weekly resistance is 0.928. My envelope indicator both weekly and daily shows me that this is the time to look for selling rallies.

Audchf: is in similar setup as audusd. At the end of the year of 2013 and early of 2014 audchf found a good support around 0.7800 and started to climb up in a bullish correction March 17, 2014 until now and found a good resistance on a weekly chart around 0.8220 that for me is a good place to look for selling opportunities. The overall bias is bearish with a strong bullish correction that needs further attention around the 0.8220 key to be sure if this resistance will be strong enough to generate a sell off.

Audcad: My key resistance for audcad is 1.0230. Indeed a good place to start looking for selling trades. Since January 2014 audcad had a strong bullish movement climbing around 750 pips. This is a good area for pro traders to take profit and hence generate a good selloff allowing us to harvest some pips here.

Remember folks, the reviews above were made on weekly charts. Throughout the week we´ll observe its behaviors and give maximum attention to the key levels related above. With good and reliable candlesticks obeying this key areas it is possible for us harvest good pips on it. Retail trades maybe thinking on buying around here! That is the difference! When you start to think differently and trade towards the success you´ll feel discomfort to trade against the old fashioned ways that you already know.
As soon I see good opportunity on one of the above instruments I´ll write an article. If you see the opportunity, manage your money, use your stop loss and trust your instincts.
Nice week and good pips for us all!

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