From Investor to Scalper – series of studies created in cooperation with broker BDSwiss, in which we take a financial instrument and the analysis includes a detailed look at the value from the monthly chart and ending with 5/15 minutes.
AUDUSD currency pair after initial increases for many years, moved to the south. In April 2001, when they were established lows, this trend has changed, and for the next several years we observed growth, which reached the vicinity of the level of the opening of trading this instrument in January 1971 year.
Since August 2011, the market again moves to the south but in recent times we see a slowdown and weakness of supply.
On the weekly chart, we see that price just broke the bottom from ongoing since the beginning of the year formation of a triangle. Currently, we are approaching the vicinity of local support 0.7457, the defeat could pave the way for further declines.
On the daily chart, we see that if in the vicinity of the nearest support will be a strong reaction of demand, then the potential upward correction could reach even in the vicinity of 0.7575 resistance or the entire zone between level of 38.2% – 50% Fibonacci correction of the last decline.
Looking at the H1 chart we can see that as a result of today’s declines market broke out thru the bottom of the ongoing for three days consolidation, and it is a re-test of the lower limit what can be expected after a possible rejection of the level of 0.7456.
To make an offer to invest Broker BDSwiss and use a low spread, which at the time of the creation of analysis AUDUSD was 1.3 pips.
BDSwiss offers its customers a sophisticated and reliable tool to invest in the market CFD / Forex. Especially novices can result in the safe introduction into the world of financial investments. The educational program of seminars and live comments market traders meet the expectations of those who want to learn how to invest successfully, which is building a great partnership between BDSwiss and its customers.
