The Australian Dollar daily.

Good morning Dynamic Traders,

Todays chart is going 'down under' with the AUD on the daily timeframe.

Price is currently in a squeeze with the former R/S zone line and trendline and in proximity to a good figure.

It also stands at a fibonacci cluster area at present and with the divergences occuring with the MACD indicator and also the RSI( as expected), the probabilities are more in favour of a downward movement.


Wait for a break of the triangle pattern to employ your entry techniques as taught by the 'Dynamic Trader' but should a break north occur beware of false BOB's due to the news out later today and tomorrow, and be sure to allow for this instance, should you decide to trade in that direction.


A break north could see the 0.9000 area challenged and although I am assuming here, my favoured direction is south for at least a retrace due to the confluences.


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


Please note that I may not be able to post tomorrow.
















Charts courtesy af AdvancedGet.

Good luck.

Clayton Farnworth.