Forex Trade Idea #109: Long AUDUSD (Closed +0)
Monday, February 1, 2010 22:22
I think AUDUSD has gone down enough so I guess it’s time to go long. I’ll make this quick.
AB=CD on the 15 minute chart, extended up to 224% fib extension. Entry will be on the 5-minute chart. If the price closes above that blue line, that is a buy. Place your stop just below 0.8786, target will be at 0.889 and 0.9.
Fundamentals is on our side as RBA is expected to raise cash rate from 3.75 to 4 on Monday 10:30pm EST.
Entry line on 5-minute chart.
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