AUD/USD Trading Plan, August 1st 2013 (English Language)

Hello traders,

please find in the following an update for the AUD/USD major pair.

In the previous review for AUD/USD (July 30th 2013) I had indicated only one scenario after the completion of the move lower. That move is now completed and price touched the 0.8910 level, as anticipated.

Now two potential scenarios could develop (please refer to below picture):

AUD/USD currency futures daily chart, August 1st 2013

AUD/USD currency futures daily chart, August 1st 2013

Scenario 1. Price could continue lower into 0.8850. Once it gets there, our model shows the possibility of a  move higher as indicated in the last review or;

Scenario 2. Further weakness and a continuation lower into the 0.8595 area before a potential bounce.

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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.

Have a good day

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