last Friday I worked on a trading plan for the Aussie forex major, 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 analysis for AUD/USD published on July 26th, 2013:
The AUD/USD is in weekly shorts in the longer timeframe and our model suggests a move into the 0.8550 area is possible in the coming month(s).
However, the pair may have started a move higher into the next resistance area which starts at the 0.9495 and extends up to the 0.9550 level.
The scenario of correction higher into resistance remains valid as price stays above the 0.9120 which acted as support in the last 3 days.
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If you intend using this information for your trading please do your own diligence, find the advice of a trading professional and trade at your own responsibility. The information provided is for educational purpose only. Please read the Disclaimer and accept all the risks. Thank you.
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