Thursday 12 May 2011

AUD/USD

Price on AUD hourly chart has just formed a morning star formation at the BF86 level. This signals that price is heading deeper into the bigger swing, probably back towards 1.0900 over coming days. Buy dips towards 1.0900 until it is reached. This will be a position trade. Might even be a leading indicator for GBP nad EUR indicating pullbacks over coming days.

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