Thursday 5 September 2013

FACTSFOREX DAILY MARKET UPDATE 5/9/13

EUR/USD found selling pressure earlier in the session around key resistance zone of 1.3200 and thereby rotated lower today.This market has eventually indicated a weakness thereby given room for lower price in the mean time.The next key support can be found in 1.3000 zone.





GBP/USD formed a rejection bearish setup today, as also confirmed by the pinbar formed at intraday chart of 4hrs. We have been anticipating this price action formation for a while , which goes to show the importance of patience.The next support level is around 1.5428 zone






AUD/USD stalled today as expected after few days of buoyant move. We expected the pair to retrace to value around 0.9072 zone where will can look for price action to trade back to key resistace zone around 0. 9300 zone in the near term




EUR/AUD formed an inside bar setup today just below an horizontal resistance 1.4481 zone.We are looking forward to a bearish fakey in the near term to trade in line with the bearish momentum



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