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Hello traders good to be with you just some notes to mention as we are now above 46.00$ P/B in Oil. We have some news events to mention FOMC Dudley speaks at 10am est. Also we have the FOMC meeting minutes at 14:00 hours est. Today I am looking at the AUDUSD on the 60 minute chart as we know that the bias is bearish as we are now sitting on support. I have placed the Fibonacci tool on the chart and you can see how this support level is holding up. I am looking for a pullback to the 38.2 at the price of 0.7890 and look for a bearish candle formation to enter into a short trade. I am looking to take some profit off the table at the support level of 0.7660. This is very strong support as you can see that the 200 ema is holding price.

Thank you traders and we will talk soon…….William

FX Instructor Forex Blog – For Traders, By Traders

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