FX:AUDUSD   Australian Dollar / U.S. Dollar
311 5 1
See chart. We are forming a inverse head and shoulder/hammer at the 0.93273 area. Look for movement to the upside.
AUD/USD very bullish. Lets see if it can hold above 0.93273
nice but please give us a further clues ...
Hi Garuty, as you can see we have made a nice retracement. This pair is in a sideways/uptrend. Based in this sideways movement we can conclude that we can buy on dips and sell on rallys. The price has finally reached saturation and now creating a inverse head and shoulders pattern. We need to close above 093273 and that will rectify a strong bullish move higher. Keep in mind AUD interest coming out later today so be on the look out. For me that is a high probability this pair should continue higher. Lets see what happens.
JGaruty ZenMasterFX
great for me i can see the AUDUSD around 0.9700, however we have to hear a hawkish tone from the RBA, so the best play is to wait after the announcement
Hi JGaruty yea we should wait. Usually if I am trading the 4 hour or higher time frame charts I ignore the news altogether. Any time frame lower I will not trade. Or just risk a smaller percentage.
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