Thursday, January 13, 2011

AUDUSD—good move up

Aussie reached a high of 1.0020 this morning. I'm still long from .9859.

It's near resistance here at 1.0030/56 but it isn't showing weakness just yet. In its ebullient way, it just may be resuming its uptrend. Next resistance is at 1.0183, 1.0214, and 1.0257. Support is at .9936/13, .9821, .9690, .9612 and .9544/32.

© Dianne Fecteau, 2010. No part of this material may be reproduced in any form, or referred to in any other publication, without the express written permission of the author.

My purpose in writing this blog is to show you how one trader, me, makes trading decisions and survives while trading Forex. One of the biggest problems I had when I first started trading was trying to apply the “rules” to actual trades. Another was the psychology—limiting losses and letting profits run. If you study my blog, you’ll see how I deal with both those issues. So my writings are not trade recommendations but rather educational in purpose. You have to decide on your own approach to trading. Remember that trading is risky.

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