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Posted by ProfitMaxTrading.com on June 22, 2006, 10:30 am
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Australian Dollar
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Last week, I posted on the Precision Trading Membership forum that
probability is very high for the Australian Dollar to put in a WEEKLY SWING
BOTTOM for this week.
But in addition, major weekly support price level has been identified based
on both dynamic Fibonacci and Gann style time and price squaring.
At this time, look for price support in the area of 72.70 - 72.90 for
September Australian Dollar.
I estimate that it should occur this week. However, the latest would be
early next week likely no later than Tuesday 6/27. Once price drops into
this support area, consider it EXTREMELY likely that the weekly low is in.
You are being provided this information in advance that is usually reserved
to my clients. I'll be out of town until Sunday evening so I will not be
able to take any calls or respond to emails quickly on this subject.
Disclaimer: The above information is simply my opinion based on my analysis
and not a recommendation to buy or sell anything. The decision to trade
using this information is the responsibility of the trader. Trading is risky
and you do so at your own risk.
--
Cheers!
Rick J. Ratchford
ProfitMax Trading Inc.
http://www.profitmaxtrading.com
"If you could see tomorrow, today... would you take it?"
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