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Ron Acoba is the co-founder and managing partner of He has been involved in the financial market since 2002. Technical analysis is his main tool in forecasting price action of equities and forex but he is also versed in fundamentals and financial analysis. He has an MBA degree... More
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  • UPtrend Intact on AUDUSD – May 3, 2010 0 comments
    May 18, 2010 8:28 AM

    After two days of wins, the AUD stumbled against the USD to close last week on the wrong end of the stick. The AUDUSD fell to and closed at 0.9253 after reaching a high of 0.9326 from 0.9277. Looking at its weekly chart, though, you can notice that the pair is presently sitting on the top of an uptrend line that started when it bottomed way back in March 2009. In my opinion, the 0.9200 marker appears to be a safer spot to place a long order given today’s gap down. More...

    Disclosure: No position
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