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Thread: Trend of the Day

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#34 (permalink)

10-15-2008, 11:34 PM

Gregory McLeod Gregory McLeod is offline

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AUD/USD is our Trend for Today

Aussie Dollar drops to new multi-year lows on the heels of a 733 point drop of the U.S. stock market which triggered Asian markets multi-year lows as well. Daily oscillators are oversold and a relief rally would give traders a better entry to sell this pair. However, a failure to rise to Fibonacci resistance would place us on alert to sell when price breaks below the .6314 level.

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