FX Path

Technical Trading Tips and Techniques by James Chen, Chief Technical Strategist at FX Solutions.

Or subscribe via email:

FXstreet.com Weblogs

Links

AUD/USD - Steep Uptrend Continues

Posted on September 28, 2010 at 15:55 in Analysis by James Chen

Price action on AUD/USD (a 4-hour chart of which is shown) as of Tuesday (9/28/2010) has just established a new 2+ year high and bumped up against key resistance in the 0.9650 price region after traversing a steep bullish trend channel extending back to the late August lows. This bullish trend is just one leg of a longer term uptrend extending back to the early June low. For more technical analysis on this currency pair, please click here for Tuesday’s (9/28/2010) Chart of the Day.

James Chen, CTA, CMT

* For information on my DVD set, High-Probability Trend Following in the Forex Market, please click here.
* For information on my book, Essentials of Foreign Exchange Trading (Wiley), please click here.
* For information on my new book, Essentials of Technical Analysis for Financial Markets (Wiley), please click here.

2 Responses to “AUD/USD - Steep Uptrend Continues”

on 28 Sep 2010 at 11:36 pm1John Xu

Hi James, I am just wondering if it is a good time to bid AUSSIE? Since it is at 0.9668 now
on 30 Sep 2010 at 1:33 am2James Chen

Hi John,

Thanks for your question. Unfortunately, I am prevented from actually giving any specific, individualized trading advice. What I can tell you is that AUD/USD looks like there might be an impending bearish correction within the overall uptrend. Overall, though, I am generally bullish on AUD/USD. Hope that helps a bit. Thanks, again, John!

James Chen

Theme by Forex Street Powered by Wordpress

The comments and posts published in this blog ARE NOT trading recommendations. They can NEVER be considered as trading calls or advices. If you decide to use the information offered here for your real trading it is at your own risk.

Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.

Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. FXstreet.com has not verified the accuracy or basis-in-fact of any claim or statement made by any independent author: errors and Omissions may occur.

Any opinions, news, research, analyses, prices or other information contained on this website, by FXstreet.com, its employees, partners or contributors, is provided as general market commentary and does not constitute investment advice. FXstreet.com will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.

The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer.

FX Path

Subscribe

Categories

Archives

Recent Comments

Tags

FXstreet.com Weblogs

Links

2 Responses to “AUD/USD - Steep Uptrend Continues”