The Australian dollar started the month with a small upward bounce, due to China's manufacturing PMI, key economic data not only locally but also globally these days. It has remained above 54 points, at the same time giving impetus to crestfallen Australian dollar. Given that this pair has a strong ceiling in the weekly R1, first resistance is at 0.9668, if the aussie closes above the weekly R1 an upward movement to 0.9836 R3 is expected. On the other hand, it is likely this pair makes a new weekly S1 minimum, around 0.9500, before closing it should be below 0.9598. On the other hand, looking at the monthly chart this pair is below the 200-day EMA in monthly periods, you can see 0.9826 pivot point. Therefore, we should expect this level to be able to sell in the medium term objectives to M_1 first monthly support. Therefore, we believe that the next signal will be valid for this week.
Signal for June 03 - 08, 2013
Buy if it closes above 0.9668 with take profit at 0.9836 (W_R3), stop loss is below 0.96.
Sell below 0.9668 with take profit at 0.9598 and 0.9500 (W_S1), stop loss is above 0.97.
_____WEEKLY_____
Weekly - R3 = 0.9836
Weekly - R2 = 0.9766
Weekly - R1 = 0.9668
Weekly Pivot = 0.9598
Weekly - S1 = 0.9500
Weekly - S2 = 0.9430
Weekly - S3 = 0.9332
_____MONTHLY____
Monthly - R3 = 1.0978
Monthly - R2 = 1.0679
Monthly - R1 = 1.0125
Monthly Pivot = 0.9826
Monthly - S1 = 0.9272
Monthly - S2 = 0.8973
Monthly - S3 = 0.8419
If you would like to get this indicator, feel free to contact me via skype: gerardofx or e-mail: gerardo.porras@analytics.instaforex.com
