Wednesday, January 5, 2011

AUDUSD fall hard after break through the rising trendline


The AUDUSD fall hard after breaking through the rising trendline. The pair is now near a support area of 100MA. The intermediate support is at 0.9983 and 0.983. Resistance is at 1.01.


The AUDUSD dropped significantly after the dark cloud cover candlestick pattern. The market is still in a bearish sentiment.  



By The Backyard Burner

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Fear of failure

Fear of failure