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Could trend end of the trend be near??

AUDUSD on 15 minute chart

AUDUSD on 15 minute chart

The AUD has been in a downward trend since early hours of this morning but could it all be over now?

Looking at the chart attached, the AUDUSD on the 15 minute chart is showing that the current candle (not yet closed) could be showing us that the trend is about to change! The long wick indicates that price has tried to move to a new low, however, has been unable to fight off the bulls and retraced right up to the open.  Watch and see what happens here rather than entering any short positions right now.

This is the analysis of 4xchick and you are advised to do your own analysis before placing any trades.

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13/07/2009 - Posted by | Education, Forex Updates, General, Potential Trades | , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

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