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Nima Azadi
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Nima Azadi has been engaging in financial markets for over 10 years. His experiences vary from investing and trading in the Tehran Stock Exchange (TSE) and Foreign Exchange Markets to mentoring and consulting on the technical aspects of financial analysis. He is frequently quoted in the Iranian... More
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Duel with the Trend
  • Trading Strategy Of The Week - 9/30/2013 To 10/4/2013 0 comments
    Sep 30, 2013 1:29 AM | about stocks: FXA, FXF

    AUD/USD

    After hitting the 3rd Monthly Resistance level, the pair has entered a phase of slow-paced pullback. It seems that for this week and after the meeting of price with the intersection point of the 2 channels, we will witness an increase in demand. We expect the 0.92 level to act as support and the 0.9350 level to be to top area of the week's probably rally.

    (click to enlarge)

    GBP/CHF

    After a sharp decline, the pair is now fluctuating in a narrow range and it will likely continue to do so in the short term until the narrow channel is broken to the downside, targeting the lower area of the bigger descending channel.

    (click to enlarge)

    USD/CHF

    The pair is in the area of the 2nd Monthly Support level and a positive divergence is forming in MACD. It seems that the selling pressure is gradually fading and it will be risky from now on. But the main long positions should be initiated when we have a decisive breakout of the top range shown in the chart to the upside.

    (click to enlarge)

    Themes: Aussie, AUD/USD, USD/CHF Stocks: FXA, FXF
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