AUD/USD Forecast February 3, 2012, Technical Analysis

AUD/USD rose initially during the Thursday session, but fell in the later hours to form a shooting star. The shooting star is at the previous highs, so while it isn't a large one - it does carry some weight. The Non-Farm Payroll report later today will be the catalyst to move this pair going forward in the near-term, and the candle will be treated like a doji by us.

>The signals are simple: If the market breaks above the highs of the Thursday range, we will buy. If it breaks below the lows of the Thursday range, we won't sell; we will look for support in the 1.05 to 1.04 area. Selling isn't a thought until we get a daily close below the 1.04 level.

AUD/USD Forecast February 3, 2012, Technical Analysis

AUD/USD Pivot Points (Time Frame: 1 Day)

Name	S3	S2	S1	Pivot	R1	R2	R3
Classic	1.0586	1.0629	1.0662	1.0705	1.0738	1.0781	1.0814
Fibonacci	1.0629	1.0658	1.0676	1.0705	1.0734	1.0752	1.0781
Camarilla	1.0674	1.0681	1.0688	1.0705	1.0701	1.0708	1.0715
Woodie's	-	1.0626	1.0656	1.0702	1.0733	1.0778	-
DeMark's	-	-	1.0721	1.0697	1.0645	-	-