DAILY FORECAST FOR AUDUSD

[B]BIAS[/B]: I feel a lot of today could be sideways consolidation



[B]Resistance[/B]:... 1.0459-72... 1.0485... 1.0502... 1.0523

[B]Support[/B]:........ 1.0418-34... 1.0405... 1.0388... 1.0367



[B]MAIN ANALYSIS[/B]: The early correction did stall close to 1.0422 - just 2 points below - and saw a seesaw day up to 1 point below the lower 1.0460 target. I think there's a chance that we may even see 1.0472 but otherwise we'll be due a correction lower again to the 1.0418-34 retracement zone. From here we should then see a rally above 1.0472 and to above 1.0500 - the estimated target around 1.0523-52. From here expect a correction lower.



[B]COUNTER ANALYSIS:[/B] Only a break below 1.0400 would concern and risk losses back to Thursday's 1.0362 low and potentially further noting the 1.0342 low.



For more information regarding the support & resistance and medium term outlook please see the attached PDF file.



Good trading

Ian Copsey



[B][URL="http://harmonicelliottwave.blogspot.jp"]HARMONIC ELLIOTT WAVE BLOG[/URL][/B]

Attached Files

View the original article: http://www.dailyfx.com/forex_forum/blogs/fx-forecaster-com/16445-daily-forecast-audusd.html



A quick look on #UCO website will produce a ton of fresh #MLM ideas to help you get more money. Go to http://www.uconnective.com

To Signup you must have a #UCO coin, you can #BUY it with only $3 from ClickAlert or Send e-mail at clickalert@ymail.com or Call/SMS to +1 (202) 599-1808 and start earning $51 per day!