AUD/USD 3 JULY 2012

AUD/USD - follow me on twitter @fxdailyforecast and stocktwits.com/fxg

We are in an uptrend on this timeframe. We need a clear B swing high to form.

FOR TODAY:

Price is largely consolidating, we will wait for a clearer setup.

If we don’t get the setup we are looking for then we don’t trade.

SHORT: Will be going short only IF:

No trade set-up, we don’t have an established B high in place as yet.

If we don’t get the set-up we are looking for then we don’t trade.

LONG: Will be going long today only IF:

No trade setup, we don’t have an established B high in place as yet.

If we don’t get the setup we are looking for then we don’t trade.