Hello traders good to be back with you on this Thursday. Trades we had Oil inventories and we did not make expectation. We have a full day of data releases today and we have to be alert to our economic calendar. OK we are looking at the AUDUSD on the 120 minute chart and I have to say this looks very nice and staying with the trend….Bearish.
As we look at the chart I am looking for a Fibonacci pullback to the 23% level at the price of 0.7520. At this level we want to see a nice bearish formation and enter thje sell with conformation. I am looking to take profit at the support zone of the price level 0.7452 for a nice 80 pip trade today.
Thank you traders and we will talk soon…William