This pair could give 500-900 pips

Θα έχουμε καλό μήνα;
November 1, 2016
Ανεβαίνει δύσκολα, διορθώνει εύκολα
November 2, 2016

AUDUSD has been trading inside the triangle pattern since March 2016 and finally time is now to break out of the triangle. Most probable direction so far is to the upside. There is no room left inside the triangle and during the first two weeks of November I expect to see a breakout.

audusd audusd2

In the weekly chart price is not only trying to break above the triangle pattern but is also breaking above the weekly Kumo (cloud resistance). This is a very bullish signal. The triangle projects as target of an upward breakout around 0.85. Bulls wouldn’t want to see price break below 0.7560. Resistance is at 0.7710-0.7730. A weekly close above this area will confirm the bullish breakout. I currently have no long position in AUDUSD but will look to open one upon breakout confirmation.

Alexandros Yfantis
Alexandros Yfantis
Fascinated by financial markets, studied International Securities Investment and Banking in the UK, works as a Portfolio Manager in Greece and runs a technical analysis website. Enjoys travelling and spending time with his family and preparing for the black belt in Korean Karate.