AUD currency is in downtrend, so all its counterparts shows the same charts. Let’s analyze the integrity of our technical indicators Doda-Donchian and Doda-Bbands based on that. Did they able to show weakness on proper time or not?
This is latest AUDUSD technical chart using Doda-Donchian and Doda-Bbands indicators. You can download these indicators from indicators section of this website.
Doda-Donchian gave sell signal on this chart around 1-Sep-2011. And after 1 week, it started moving upward and gave buy signal. But our another indicator Doda-Bbands was very active and did not support that buy signal. Infact, price faced resistance EXACTLY on Doda-Bbands line and thereafter, both the indicators collectively gave sell signal @1.05438 and it started its downward journey; resulting in a profit of 322 pips at the time of writing this post.
It’s support line is @1.0054 and resistance levels are at 1.03085 and 1.03595
Coming to another chart now – AUDJPY.
Same story here. Doda-Donchian and Doda-Bbands gace sell signal on 09-09-2011 @81.35, resulting in profit of 265 pips at the time of writing this post. Immediate target of this currency pair is 77.70. Watch that level carefully.
Lat but not the least, is AUDNZD chart.
AudNZD sell signal was also given on time by both the indicators – @1.26681 for a total profit of 157.8 pips (& counting).
The summary of this post is ALWAYS check both Doda-Donchian and Doda-Bbands indicators for signals and when both agree on same signal – take that position WITH your stop-loss.
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