Saturday, October 25, 2008

Forex AUD-USD Technical Analysis

The current scenario of AUD-USD situation is the result of its stubborn long-term bullish effect. The trend was moving up for long years and it shows no stopping sign until it goes overbought. As pay back time came the pair now is in the possession of the bear and the worst case, it is extremely oversold.

At this extreme oversold high certainty of reversal is ultimately imminent, because the big money is held in the hands of the few. As emotions starting to build up they will close their position to harvest profits, which may result in the market creating rapid reversal. Just watch out for monthly slow stochastic movement, if there is any sign to upward direction for this pair. Some others are already anxiously waiting for the big reversal that make up at least minimum total of 500 pips or more.

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