AUD/USD at its 1-year resistance 0.9400 - It's a G'Day Mate!

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Trade of the Fortnight! Simple Trades that make money

AUD/USD at its 1-year resistance 0.9400 - It's a G'Day Mate! 16 September 2010 Alas! We had some real exciting movement that went on in the Forex Market for the past few weeks. Oil price rising; gold price surging to record high; political party changing hands both down South (Australia) and up North (Japan). We are getting some pretty decent movements in the Forex Market for the patient investor. Hence we will be having a double issue for this week! In this issue we will focus on AUD/USD and on the next, we will look at USD/JPY. Key Lesson for Today: Complement the results of your technical analysis with fundamental happenings TIP 1 - Identify a Strong Support Level Post the rally in July 2010, the AUD/USD retraced back 50% and rested nicely on its 55-day moving average. The coincidence of the 50% retracement level and the 55-day moving average suggests a strong support level. TIP 2 - Identify a Related Price Action Pattern Fibonacci is a pattern typically we will want to go for post a bullish rally. In this case, we are going for the fibonacci pattern. We project the AUD/USD to rebound off the support level and make a 2nd rally. TIP 3 - Wait for the Tipping Point This is when you are waiting for the triggering event(s) to happen. Standby a limit order at a level where you project the 2nd rally to break through. A market usually goes into a consolidation when there is no clear direction where it shall head. Technical analysis gives you the ability to decide where your entry should be. With key fundamental events to drive it home, a trade like this is pure and clean. For beginners, combining the results of both the technical and fundamental analysis could prove to be challenging. Our recommendation? Build up your technical foundation first. Clarity in a chaotic market is a gift that every trader would have to pay a high price for, though the amount and duration will differ for each. You can control this "tuition fee" that you have to pay to a fixed amount and a fixed time with a properly structured education course. Something to chew on for the rest of the week. If you are curious how we do it with our students in our courses, give us a call or speak to us at our Forex preview. Details available at the end of this email. We offer Singapore's only 8-week Forex Trading Course with a structured curriculum. No over-inflated promises, no wild claims; only what works and what doesn't to protect and profit you in the Forex Market. Find out more at any of our FREE 90 min "Forex Trading Essentials" Seminar at a location near you! Click here: www.ForexDrivingSchool.com/seminar/ The $1 Life-Changing Challenge Trade with only $1 a day for 1 year, and change your financial roadmap forever. You will experience first-hand how easy it is to ride the money flows in the market. Never be a passive listener to the stories of the market again; be one of the smart money in the market. Find out more from any of our Free "Forex Trading Essentials" Seminar at a location near you! Click here: www.ForexDrivingSchool.com/seminar/ or Sms 97390357 or Call 61002264 today! Important Notes: * Hypothetical profits for illustration purposes only. It assumes an effective stoploss risk of $250 for consistency in examples throughout our newsletters. This is not a trade recommendation and should only be used for educational purposes. Forex trading is a leveraged instrument and involves risks. Please seek professional advice if in doubt of its suitability for you. Any form of investment involves risk and may not be suitable for everyone. Past performance should not be an indicator of future performance. © Chart printscreens copyright www.oanda.com. Text and materials copyright FXDS Learning Group Pte. Ltd. Trade of the Fortnight is an e-publication by Forex Driving School. If you would like to receive this newsletter, please sign up here. You can unsubscribe anytime after that. Further Legal Disclaimers: We are not financial professionals in the legal terms and the information shared are purely for entertainment or educational purposes. Even financial professionals who present time to time on our stage, do not speak in their professional capacities and do not offer any advice or recommendations directly to any individual. They are merely sharing their experience. We do not advise on any product or plan or system, as every individual has a different risk appetite. We do our best to ensure accuracy but we will not be held liable for any losses incurred either directly or indirectly. If in any doubt for the suitability of any exhibited system please consult your professional financial advisor. Forex Driving School - Trade of the Fortnight - September 2010

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