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Hello traders welcome to a new trading day. I have to say after I looked at all the charts I think we can have a good trading day, as always watch for data to be released and protect your positions. It is interesting to see all the markets in the red for so long I have no idea what is going on and I do not think it is CNY or Oil doing this. OK let us take a look at AUDUSD- This is the 30 minute chart.This pair continues to have a bearish bias. So today we are looking for the short move. I have placed the Fibonacci tool on the chart and looking for a 50% pullback with a bearish candle formation so I can enter this trade at 0.7080. We will take this to support at 0.7008. I am not to concerned with the daily pivot point but I expect a bounce at that level. Traders have a good trading day and we will talk soon…. William

FX Instructor Forex Blog – For Traders, By Traders

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