Autochartist - Daily Forex Update: AUD/USD
By Dima Chernovolov | February 14, 2013 7:04 AM EST
As can be seen from the following trade opportunity alert that I received today, AUD/USD is expected to rise to the target level 1.0378 in 23 hours - as a result of the recent breakout of the 4-hour Falling Wedge chart pattern identified by Autochartist. The stop level for this advance is set at 1.0225 (point A below, which is the bottom of the aforementioned Falling Wedge). This point formed when the pair reversed up from the strong support area lying at the intersection of the round price level 1.0200, the 38,2% Fibonacci Retracement of the previous weekly upward price impulse from June of 2012 as well as the lower weekly Bollinger Band. The upward sloping moving average confirms that the pair will rise to 1.0378 in the next 23 hours.
The following weekly AUD/USD chart shows the technical support levels mentioned above:
To subscribe to the e-mail alerts feature is quick and easy. Log into the Autochartist platform, click on 'Alerts & Messaging', enter your email address, select the market you want covered, select your language, and the time you want to get your report, and you're done! You will now receive a quick morning technical outlook of the markets.
For further information on this and other Autochartist products visit www.autochartist.com
DISCLAIMER: The Autochartist service includes chart pattern identification in respect of foreign currencies, commodities, equities and stocks. There are potential risks relating to investing and trading. You must be aware of such risks and familiarize yourself in regard to such risks and to seek independent advice relating thereto. You should not trade with money that you cannot afford to lose .The Autochartist service and its content should not be construed as a solicitation to invest and/or trade. You should seek independent advice in this regard. Past performance is not indicative of future performance. No representation is being made that any results discussed within the service and its related media content will be achieved. All opinions, news, research, analyses, prices or other information is provided as general market commentary and not as investment advice. Autochartist, MDIO Software, their members, shareholders, employees, agents, representatives and resellers do not warrant the completeness, accuracy or timeliness of the information supplied, and they shall not be liable for any loss or damages, consequential or otherwise, which may arise from the use or reliance of the Autochartist service and its content. This e-mail may contain information that is confidential. If you are not the intended recipient, you must not distribute, copy, circulate or in any other way use or rely on the information contained within the entirety of this email. Please delete the e-mail and any attachments and notify us immediately.