Aussie Dollar/Nice Breakout *PIC*

Please feel welcome to join in on these informative ongoing discussions about trading futures and commodities.

The Trading Forum is intended for the open discussion of commodities trading. The management of this Forum does not agree or disagree with the ideas exchanged, and does not exert editorial control over the message posted herein. Read and post at your own risk. The risk of loss in trading or commodities can be substantial. We discourage the use of this Forum to promote trading that is acknowledged to be risky. Please note: many links from the Forum lead to pages on other web sites. We cannot take responsibility for nor endorse the information presented on those sites.

Forum Policy

Return to Index

TFC Commodity Trading Forum

Here is the Aussie Dollar chart once again. The Aussie Dollar broke out of its explosive chart pattern (Symmetrical Triangle). This breakout over the downtrendline was also price resistance at 1.037. Notice price typically broke out and once over resistances dropped back and tested the breakout point. Very classic price action with price remaining in a tight consolidation pattern just above resistance. A close above this tight 3 day pattern would suggest a run up to the 1.07 area for starters. Like all currencies there is an ETF:FXA for the Aussie Dollar to trade as well that can be traded in most any stock trading account.

Forum Policy

Return to Index