AUD/USD - follow me on twitter @fxdailyforecast
No trade setup on Aussie on Friday. Price fell and we are at the B low area.
FOR TODAY:
Price fell down into BF786 territory during the Asian session. We will buy a bullish cs formation from current levels or while inside the 1.0508 lows.
A sustained break of the B low will give us a higher low in place at 1.0668 and confirm the reversal on this time frame.
Else short trade setups are only considered once price hits the 1.0723 level.
SHORT: Will be going short only IF:
We get a rally to the 618/786 and price then gives us a bearish cs formation. Place stop 13 pips above the high of the cs formation, limits advised upon entry.
If we don’t get the setup we are looking for then we don’t trade.
LONG: Will be going long today only IF:
We will look to buy bullish cs formations from current levels while inside the 1.0508 lows. Stops will be 10 pips below the low of the cs formation, limits here will be at 1.0713 over coming sessions.
If we don’t get the setup we are looking for then we don’t trade.
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