Monday, June 22, 2015

New Signal AUD/USD

As of 06/22/2015 @ 21:54 EST:

The Australian Dollar may be readying to turn lower against its US counterpart after prices put in a bearish Three Inside Down candlestick pattern. A daily close below 23.6% Fibonacci expansion at 0.7715 exposes the 38.2% level at 0.7632. Alternatively, a reversal above the 14.6% Fib at 0.7766 clears the way for a test of the 0.7813-18 area.

We will be taking a short position with a break of 0.76900 or conversely taking a long position with a break of 0.77760.  Both will have a stop of approximately 85 Pips.

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