Forex Technical Analysis of AUDUSD for October 05, 2015 | Forex Signals Market
Sunday, October 04, 2015

Forex Technical Analysis of AUDUSD for October 05, 2015

Support                            -   S1 : 0.7011 | S2 : 0.6974 | S3 : 0.6946
Resistance                        -   R1 : 0.7077 | R2 : 0.7104 | R3 : 0.7142
Main Trend                     -   Bullish
Intraday Trend               -   Bullish

Financial Announcements: USD - ISM Non-Manufacturing PMI

Considering all the details from the charts of forex technical analysis we can detect all critical levels and trading targets for H1 and H4 timeframes:

Forex Technical Analysis
The price up to now remains within the upper channel of a downward Andrews Pitchfork and is located above the EMA (50) and below the EMA (200) which have a downward cross between them.

Although there is strong evidence for increasing the upward momentum, we believe that it is very likely an initial correction before the price tried to move to higher levels.

From the strength of the anticipated correction, will depend on if finally will remain the upside momentum.


4H Chart


The area 0.7020  – 0.7043   is a neutral zone.

Bullish scenario: If price moves upwards and close above the neutral zone, then the upward trading targets will be: 0.7085, 0.7115, 0.7145, 0.7165, 0.7200.

Bearish scenario: If price moves downwards and close below the neutral zone, then the downward trading targets will be: 0.6980, 0.6955, 0.6935, 0.6900.

1H Chart


The area 0.7025 – 0.7035  is a neutral zone.

Bullish scenario: If price moves upwards and close above the neutral zone, then the upward trading targets will be: 0.7065, 0.7080, 0.7100, 0.7115.

Bearish scenario: If price moves downwards and close below the neutral zone, then the downward trading targets will be: 0.7010, 0.6990, 0.6975, 0.6960, 0.6945.

Using the above elements of forex technical analysis, everyone can plan his own personal forex trading strategy. We note the need to use stop-loss levels.

You agree with our estimates? If you have another point of view, you can write your opinion in comments.

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