Something to share on Forex 09/09/2016

XAUUSD: After gold create the high point at 1374, it is creating lower and lower peak point afterwards. It forms a triangle shape with strong support within 1300~1310 region. We can short gold when it reach high point at the edge of triangle or long gold at bottom side. Please pay more attention to various 0.618 place. Gold seems react more towards this fib 0.618 place.

xauusd_sep09_2016

USDJPY: after we take the profit at 101.35 (previous 0.618 retracement). USDJPY reacts well at this place and go back towards about 103 (09/09/2016 10pm). USDJPY is still within downward channel. When it goes up, we can consider to short it. But if it breaks the downward channel strongly, we can buy USDJPY at the retacement.

usdjpy_sep09_2016

AUDUSD: Previously, AUDUSD is a strong up trend. After it breaks the up trend channel, it will be probably turning into bearish trend. Here it is the classical example of breaking channel and follow the direction strategy. After AUDUSD breaks the downward channel, we short AUDUSD when it pull back to channel again.  I know that I didn’t publish the forecast earlier, but it is a good example for me to record down for self-improvement/study purpose. Now, we are still looking for shorting AUDUSD.

audusd_sep09_2016

 

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