ForexWeeklyAnalysis
Long

Pending Long AUD/USD mid 0.89XX Region

FX:AUDUSD   Australian Dollar/U.S. Dollar
56 2 1
Possible long in the mid 0.89XX region, this is near 50% of yesterday's pinbar wick as well.
Consider exiting if price closes below mid 0.88XX region
Target: mid to high 0.91XX region
Price didn't drop as low as I thought it would, barely touched the 0.9000 mark, so I think this trade's status should be changed from 'pending' to 'proceed with caution' given how high price went (currently 0.9069)
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Just a note, I'm torn between taking a long on this one when it gets down to my levels... or to take a long on AUD/NZD instead... I don't want to be overly exposed and trade all 3... NZD/USD, I already have a position so my margin for that trade is already spoken for. Also, the fact that AUD and NZD have had some sort of positive correlation as of late, is a concern as well.
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