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10 Jun 2014
AUD bulls stampede - FXStreet
FXStreet (Guatemala) - Ivan Delgado, chief of Head of Asian Editors noted in an article that following a period of consolidation inside the daily cloud, AUD> bulls managed to break back above the top of the cloud + kijun sen.
Key Quotes:
“Price now confronted with a key descending trendline coming off Oct 2013 high”.
“A break above this dynamic resistance is needed to expose offers at 0.94 and beyond”.
“H4 Chart: Intraday, the bullish momentum in the AUD becomes more evident, as price holds above the tenkan, while both the kijun and the cloud remain far behind, a communication that AUD enters Tuesday's Asian session keeping a very healthy bullish tone”.
“H1 Chart: While price trades above the kijun/tenkan lines, the first tentative signs of bears stepping in are emerging, with the tenkan just crossing below the kijun, although it occurs in a context of very bullish price action in the last few days, which coupled with a rising thick cloud, it makes it look as though the prospects for downside setbacks will be limited”.
“As long as above 0.93 (daily kijun), the bullish bias is favoured”.
Key Quotes:
“Price now confronted with a key descending trendline coming off Oct 2013 high”.
“A break above this dynamic resistance is needed to expose offers at 0.94 and beyond”.
“H4 Chart: Intraday, the bullish momentum in the AUD becomes more evident, as price holds above the tenkan, while both the kijun and the cloud remain far behind, a communication that AUD enters Tuesday's Asian session keeping a very healthy bullish tone”.
“H1 Chart: While price trades above the kijun/tenkan lines, the first tentative signs of bears stepping in are emerging, with the tenkan just crossing below the kijun, although it occurs in a context of very bullish price action in the last few days, which coupled with a rising thick cloud, it makes it look as though the prospects for downside setbacks will be limited”.
“As long as above 0.93 (daily kijun), the bullish bias is favoured”.