AUD/USD, currently oversold, is preparing for an intra-day bearish signal, and with some luck we could take advantage of it on 1hr or 15 minutes charts, depending on the taste.
Keep in mind that this is an important week for USD, as the Feds are announcing the rate decision, so better think twice before acting.
Watching this pair during the day seems to have payed off. The bearish signal was confirmed on the 15 minutes chart around 10:45 GMT and it is coming to an end.
The pair started to go down from 0.9891 and now, at 0.9853 seems to be close to the oversold position when the down mini-trend is not safe enough anymore.
All in all, watching this AUD/USD signal payed off and those of you who managed to take advantage of it should be happy with your 40-50 pips profit.
The GBP/USD intraday signal is developing quite well right now. Keep an eye on it also but bear in mind that the GBP/USD pair is currently in a consolidation process, so don't expect from the market to give you clear signals for large movements.
Monday, November 1, 2010