The Forex Pattern Price Time Report - AUD USD - Morning Session
The Pattern, Price & Time Report | Aug 26, 2008 08:00PM ET
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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