AUD/USD 8 AUGUST 2012

PLEASE SEE MESSAGE AT THE TOP OF TODAY'S BLOG AND THE POLL ABOVE.

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

We are starting a reversal on this pair.

FOR TODAY:

We need to wait for a retracement to the 618/786 of this swing for a short trade setup.

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

SHORT: Will be going short only IF:

With the start of the reversal we will look for a short trade setup higher up at the 618/786.

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

LONG: Will be going long today only IF:

No long trade setups since we are in the process of a reversal.

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