• Trading Account
  • Downloads
  • Nifty Options OI
    • Nifty Max Pain Chart
    • Nifty Option Change in OI Chart
    • Nifty Put Call Ratio
    • Nifty Option Total Change in OI
    • Nifty Trend Finder
  • BankNifty Option OI
  • About Us
  • Learn Technical Analysis
    • Advance Option Trading Course

OurNifty.com

A Indian Stock Market Blog

  • Forex
  • Gold
  • Intraday Stocks
  • Midcap Stocks
  • Multibagger
  • Nifty
  • Nifty Option
  • NSE
  • Amibroker

Forex: AUD/USD Trading Analysis for 16 May 2011: Sell Below 1.0585

By Bhaveek Patel Leave a Comment

Intraday trading analysis (tips) for AUD/USD 16 May 2011, we recommend, Enter short in AUD/USD below 1.0585 for target of 1.0545 and 1.0515 also place protective stop loss above 1.0605.

Reason to trade short: USD has been trading strongly and has now picked strong momentum for near term trading prospective. So for intraday trading we will be looking for selling opportunities in this pair as long as this pair remains below 1.0666 level. AUD/USD pair has been making the series of lower high and lower low suggesting the strong trending market. Also we will start buying in this pair once it resumes its uptrend. RSI support the down move and is in favor of the trade on 4 hour chart, however RSI is loosing the strength, so trade cautiously with tight stop loss. From current level we see the pair to weaken further and move towards its next support level which is at 1.0515, so trading in the direction of the trend we recommend to trade short on this pair. Also the same bias remains for the short term trading view.

Share
Tweet
Pin
0 Shares

You Should Read This:

  1. Forex: AUD/USD Trading Analysis for 23 May 2011: Sell Below 1.0595 Intraday trading analysis (tips) for AUD/USD 23 May 2011, we recommend, Enter short in AUD/USD below 1.0595 for target of 1.0545 and 1.0505 also place protective stop loss above 1.0615. Reason to trade short: USD...
  2. Forex: AUD/USD Trading Analysis for 16 June 2011: Sell AUDUSD below 1.0565 Reason to trade AUDUSD short: The AUDUSD pair has always attracted the investors for the carry trade as the interest rates are very high in Australian economy. For long term we are always looking for...
  3. Forex: AUD/USD Trading Analysis for 1 June 2011: Sell AUDUSD above 1.0725 Intraday trading analysis (tips) for AUD/USD 1 June 2011, we recommend, Enter long in AUDUSD above 1.0725 for target of 1.0765 and 1.0795 also place protective stop loss below 1.0705. Reason to trade AUDUSD long:...
  4. Forex: GBP/USD Trading Analysis for 16 May 2011: Sell below 1.6205 Intraday trading analysis (tips) for GBP/USD 16 May 2011, we recommend, Enter short in GBP/USD below 1.6205 for target of 1.6155 and 1.6115 also place protective stop loss order above 1.6225. Reason to trade short:...
  5. Forex USD/CAD Trading Analysis for 2 March 2011: Sell below 0.9745 Intraday trading analysis (tips) for USD/CAD 2 March 2011, we recommend, Enter short USD/CAD below .9745 for target of 0.9695 and 0.9665 also place protective stop loss above 0.9765. Reason to trade short: USD was...

Category: Forex Tags: AUD/USD/ Forex/ Forex Trading

About Bhaveek Patel

Bhaveek Patel is one of the most successful traders, technical analyst, and investor, his areas of interest include stock market, forex, and gold trading. Apart from this, he is often seen in the golf course. He is having more than 10 years of experience in trading, had placed his first order on 19 June 2006 with IndiaInfoline.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Previous Post: Forex: EUR/USD Trading Analysis for 16 May 2011: Sell EURUSD below 1.4155
Next Post: Forex: GBP/USD Trading Analysis for 16 May 2011: Sell below 1.6205

Advance Options Trading Course

options trading course

Lowest Brokerage Trading A/c

Lowest brokerage trading account opening in India

Learn Technical Analysis

technical analysis course

Recent Articles

  • ASX Penny Stocks List for 2025
  • 7 Ways to Boost Your Revenue
  • NYSE Penny Stocks List for 2025
  • Short On Cash? Here’s How You Can Manage Your Priority Spends
  • FREE Webinar on Option Chain Analysis
  • LSE Penny stocks list for trading in 2025 Should you buy?
  • BSE Penny Stocks List 2025

Popular Categories

Amibroker Finance Forex Gold Intraday Stocks IPO Midcap Stocks Multibagger NEWS Nifty Nifty Option NSE Results Short Term Stocks Technical Analysis

About Us | Contact Us | Privacy Policy | Disclaimer


Copyright © 2009 - 2025 OurNifty.com Trading ideas published here cannot be reproduced without permission from the author.
OurNifty is Powered by Wordpress and hosted on Digital Ocean