Posted by: joetradingplace | January 22, 2013

Aussie Analysis (Update)

Aussie didnt do as we expected, we were expecting a drop towards the 1.0400 handle. Now the pair is back to the upper TL of the wedge, this is a very signficant level for this pair now, either the pair will breakout or bounce off. If the pair breaks out, just wait to see if it follows through after break, but if it fails to follow through, there is plenty of room to move back to that 1.0400 level. Keep a close eye on this pair now, because if she breaks out of this wedge, she has plenty room to move and could be a very good trend trade…aslo keep in mind that a failed breakout could be a very good trade as well.

Before

aussie trade

After

aussie daily after

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