Review of the Aussie Dollar.

Good morning Dynamic Traders,

Today I am going to review yesterdays blog of the AUDUSD.

After dropping about 80 pips from when mentioned it has since recovered about 50 pips to the time of writting.
Nothing has canged from yesterday in that the divergence and other confluences are still there but I am uncertain of this for a swing trade fall from here although the lower timeframe is showing support off the trendline which could mean that a further move north may happen.

As said yesterday my confluences for a short opportunity are not there yet and so for me I am awaiting the push up to the figure and clustering fibonacci areas before committing.

With trading the markets you will know nothing is certain and so this course of price action may not even happen but in accordance with my plan I have not got enough odds in my favour for this trade at the moment.

I shall not be posting tomorrow and so as usual please do analysis of your own before taking any trades.

Charts courtesy of TradeStation.

Good luck and have a great weekend.

Clayton Farnworth.