Forex Currency Market Analysis for 12.05.20014
Hello, the holiday weekend is over, and let's take a look at what to expect on the Forex market on 12.05.2014.
USDCAD
On the USDCAD pair, the price bounced off a strong support level and formed the Rails pattern. Market participants have not yet decided on the direction, but I think we should expect price growth. It is recommended to enter trades according to the pattern rules.
AUDUSD
On the AUDUSD pair, the price formed an Inside Bar pattern. The pattern does not have any serious support, but I think we should expect price growth toward the 0.94410 level. It is recommended to enter trades on the pattern cautiously.
XAUUSD
The price of Gold formed a Doji pattern. The pattern tells us about uncertainty in the further direction of the price. Most market participants prefer buying, and an upward correction is likely possible to begin. It is recommended to enter trades according to the pattern rules.
Respectfully, Artem aka TeaDrinker
TradeLikeaPro.ru
Hello, the holiday weekend is over, and let's take a look at what to expect on the Forex market on 12.05.2014.