Tuesday, 18 September 2012

AUD/USD the simple things are often the best

The simple things are often the best. In the case of this post the "simple thing" is the 18 period simple moving average (MA), which is an effective indicator of trend at any time frame.

Weekly chart illustrates that the trend is up, albeit in its infancy, with pressure building for a breakout above the trend line.


Daily chart likewise illustrates that the trend is up, with the market retesting the trend line that it broke through last week. If the market goes below the MA you might like to play the potential double top.