On the daily the third hit of the middle tine/median line of the pitchfork has seen an initial bounce.... Will the bounce carry through?
From the chart, the barest of bounces has so far resulted.
Downside potential is indicated by the strong crossover of the MACD moving averages of the zero line.
Upside Potential is indicated by the Stochastic slight turn up on the signal line whilst in the overbought region.
The Hourly though is almost to the point of saying long...
Looking at the trend down over the last two trading days, we can see that there have been two previous attempts at the 21 period MA (thick red line on Price) and we are now coming up to the third...
a Hold above of price in the next bar suggests to me that we are good to go to push back to the target area of .92.
5 minute and 10 minute... they're off :)
;)
AUD Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
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