AUDUSD - Weekly outlook - thesis and counter thesis 1/4-5/4

FX:AUDUSD   Australian Dollar / U.S. Dollar
It looks like we have completed 5 waves up, and now we should get a 3 wave correction.
A-B-C correction should reach at least 1.0370, where we have an important area (1.0370/ 40 )
which will deiced the trend.

On monday we have the very important RBA rate decision, which can provide good entrys.

Trading ideas:
Sell at 1.0450, TP1: 1.0370 TP2: 1.0280 TP3: 1.0180 SL:1.0500
Buy at 1.0370 TP1: 1.0450 TP2: 1.0500 TP3: 1.0580 SL: 1.0330
Sell at 1.0330 TP1: 1.0280 TP2: 1.0180 TP3: 1.0000 SL: 1.0380

Good luck!


went long at 1.0370 TP 1.0420 SL 1.0340
Out short from 10450 +60
i will wait to see 1.0450 its not far :)
traderWgun mreuro1
i went short at 1.0450 SL at break even now. But we have trend line res soon and former low. If we take them out it could go down really fast.
And also if we look at commodity (gold, oil) we see that they have a strong correction and they are break down.

Good luck!