this morning I worked on a trading plan for the Aussie, i.e. the Australian Dollar versus the US Dollar and I am sharing it with you in this post. I think there is an opportunity evolving right now in this forex pair.
Please find attached the video-analysis recorded in the morning for AUD/USD for today February 1st, 2013:
This pair found support in the 1.0380 area and can now move all the way into the top of the range at the 1.0580 area (please, refer to the below picture):
Entry is here (as I prepare the chart and record the video) above 1.0380 with a stop (aggressive) below 1.0370. A more forgiving stop (moderate) would be below daily lows, ie. below 1.0355.
A good long opportunity is unfolding here. Please let me have your thoughts. Thank you.
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