Tuesday, January 18, 2011

AUDUSD maybe forming triangle


AUDUSD is making lower high and higher low indicating it is in a triangle. The price is moving in a more tight range. The support is at 0.988 area and resistance is at 0.9973.


AUDUSD yesterday daily candle is an inside bar or bullish harami. But the big shadow of the spinning top at both sides show the undecided condition of the market. The breakout may either move the price to support of 0.9820 or resistance of 1.0025.



By The Backyard Burner

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Fear of failure

Fear of failure