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Hello traders welcome to a new trading day as we are getting ready for the big data releases on Friday NFP, OPEC and today ECB. I have looked at the charts and we have some very nice trade plans for today. Please be alert to data and the ECB today.

Plan Your Trade and Trade your Plan !

OK let us take a look at the currency pair of the day as we loot at the analysis of the AUDUSD- This is the 1 Hour chart today.This pair continues to be bearish as we would expect. We had some data released in the Asia session today and some movement on the chart. As the trade balance data was not good we see the continuation of the bearish bias. We are at the price I would like to enter this short as I will do now. I am looking to take profit at the 200 ema support area at the price of 0.7252.

Thank you traders and talk soon….William

FX Instructor Forex Blog – For Traders, By Traders

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