MattViv

MattViv

As this month's candle completes it is highly likely to form a hanging man which is a bearish signal. I have done a wave count from the most recent bottom and would appreciate anyone's thoughts on my labelling. I believe if we reach the 1.3350 area soon it would be a good entry point for a short position as we enter a potential corrective phase. I have used...

MattViv Updated 

I'd like to see AUD rally from strong support level of mid September which also co-insides with high from January 2009. Target 0.74 before seeing a sell off through the 0.72 barrier

MattViv

Firstly, this Stoch RSI indicator has crossed over today and you can see that on previous occasions this happened, during the course of this year, the price subsequently fell. Secondly, there was some stubborn resistance back in mid March around the 121.37 area which makes me feel we could have seen the top for now at 121.37. You can also see the trend channel...

MattViv

With strong resistance being provided from the lows in the 90s we could be looking at a move down. The RSI looks like it may have peaked and last time this happened at the end of the nineties after a bit of negative divergence there was a large move down. This month's candle looks like it may turn into a classic looking hanging man so I will be looking to go...