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The Forex Pattern Price Time Report - AUD USD - Morning Session

By:   James Hyerczyk
  • 27-08-2008
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Stronger commodity prices overnight especially gold and crude oil is providing support for AUD USD.  A hurricane in the Gulf of Mexico is heading toward refineries which account for about 42% of the production in the United States.  The overnight trade indicates this market is in a position to challenge a down trending angle at .8650.  A trade through this price could trigger more short-covering.  The main trend turns up on a trade through .8813.

PATTERN

Main Trend:  Down
Main Trend Top:  .8813 (08-22-08)
Main Trend Bottom:  None

PRICE

.9850          Main Trend Top (07-15-08)
.9369          .618 Retracement
.9220          50% Retracement
.8813          Main Trend Top (08-22-08)
.8761          Weekly .618 Retracement****
.8688             Week High
.8650          Gann Angle Down
.8629             Overnight High

.8557             New York Close

.8530             Overnight Low
.8505          Weekly 50% Retracement****
.8493             Week Low

TIME

Aug 28           180-Day Cycle

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Next Analysis: Dollar rallied to a 6-month high on raising concerns of recession in euro-zone
Content Provided by:
James Hyerczyk

James A. Hyerczyk is a registered Commodity Trading Advisor with the National Futures Association.

Mr. Hyerczyk has been actively involved in the futures markets since 1982. He has worked in various capacities within the futures industry from technical analyst to commodity trading advisor.


DISCLAIMER:
Forex (off-exchange foreign currency futures and options or FX) trading involves substantial risk of loss and is not suitable for every investor. The value of currencies may fluctuate and investors may lose all or more than their original investments. Risks also include, but are not limited to, the potential for changing political and/or economic conditions that may substantially affect the price and/or liquidity of a currency. The impact of seasonal and geopolitical events is already factored into market prices. Prices in the underlying cash or physical markets do not necessarily move in tandem with futures and options prices. The leveraged nature of FX trading means that any market movement will have an equally proportional effect on your deposited funds and such may work against you as well as for you. In no event should the content of this correspondence be construed as an express or implied promise or guarantee from James A. Hyerczyk and J.A.H. Research and Trading or its subsidiaries and/or affiliates that you will profit or that losses can or will be limited in any manner whatsoever. Loss-limiting strategies such as stop loss orders may not be effective because market conditions may make it impossible to execute such orders. Likewise, strategies using combinations of positions such as "spread" or "straddle" trades may be just as risky as simple long and short positions. Past results are no indication of future performance. Information contained in this correspondence is intended for informational purposes only and was obtained from sources believed to be reliable. Information is in no way guaranteed. No guarantee of any kind is implied or possible where projections of future conditions are attempted.


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