Australian Dollar.

Good afternoon Forex Traders,

Well finally the AUDUSD has reached the position mentioned in previous posts and so now is the time to keep a close eye on this pair for signs of the retrace/reversal.

The figure has been breached and the cluster too, and so with all the confluences still in place all that is needed is the entry to get triggered with an appropriately placed stop.

As yet the final piece of the puzzle has not set up but could be forming today, or the next target is the 0.8200 area.

If this does happen work out your entry and stop loss should be prepared and take the plunge with good management.

From the image below it shows that AdvancedGet is not liking the wave 4 set up but the pullback could still happen, and the MOB has been reached although late.

As always please do your own analysis before taking any trades.

Charts courtesy of AdvancedGet.

Good luck with your trading.

Clayton Farnworth.