AUDUSD is up against key resistance at .9948 up to .9963 (the highs Wednesday and Thursday this week). A close above here for the week would be slightly bullish but better would be a weekly close above parity. The pair has closed below parity for the past six days after a long run of closes above parity.
© Dianne Fecteau, 2011. 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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