After FOMC ok news, and AUS employment mixed bag news. AUDSUD took an initial dip on the FOMC even, then retraced to the .618 fib. I shorted then, hoping that the upcoming AUS news would not be very strong (neither bull nor bear).
The zones shown are from my Fibonacci based Support Resistance Analysis:
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I did not have time to prep the main chart a little better, but here is what I am looking for:
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Both targets hit and then some! Closed entire position now, planning for bounce to short again.
Hi mate... aussie and chineese currencies are having a bad moment, but i think it will reverse... dont you?
EuroMotif
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@Praguinha, Probably, as the aussie so often does... But I am a dollar bull right now, so am hoping the mixed news out of AUS will push it down a little more before bounce... but lets see how it goes...
Praguinha
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@euromotives, thanks for sharing mate... we have the same conclusion here... good luck.