The Australian Dollar.

Good morning Dynamic Traders,

On the 8th April, I mentioned the AUDUSD for an intraday trade which could have run on further if managed correctly for a possible 250 or so pips, before getting stopped out.
I am now looking at this to get ready for a possible continuation down as the daily timeframe is in the throws of the downward move after hitting its V.I. which is confirmed by its MACD.

If you now go to the four hour chart below, you will see that it is currently sittng at this timeframes V.I. which is around the figure.
It also looks to be showing a possible bearish flag pattern and the RSI is currently coming up from OS levels and Stochastics is still in OS territory.

Keep an eye on this one for possible confirmation of this possible short trade, but as always please do your own analysis before taking any trade.

Charts courtesy of TradeStation.

Good luck.

Clayton Farnworth.