Forecast by Marius Ghisea – AUD/USD (November 7-11)

The AUD/USD currency pair is near overbought level, in the short term. The confirmation of an entry point for downtrend will be at EMA 50 (0.7612). A first target in the medium long term may be 0.7337 (Fibo 0.50). Another target may be 0.7218 (Fibo 0.38).

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This currency pair is into a tight range at this moment, between 0.7715 and 0.7620. The downtrend confirmation will be when the price reaches Ema 200 (0.7600), according to the 8 hour chart. The targets may be 0.7520 (Fibo 0.50) and 0.7462 (Fibo 0.38).

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MariusG
Marius Ghisea – fund manager and advisor for institutional and individual investors. 11 years experience in forex market. Marius G. provides advices for long term investors with low risk strategies investments. Technical analyst at ProfitF.com ( Go to Ghisea Marius Facebook group >>> )
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