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Currency Strenght

Wednesday 8 December 2010

AUDUSD Chart waiting for 4hr Stochastic failure to Sell

Looking at AUDUSD from the Daily TimeFrame  We have a Daily 4hr Stochastic Cross.
Prices at present are currrently underneath the 90DMA
If Prices Hold and we can get a Rally to around 0.9854 the we will be condersing a seell prviding we have two back toback time frame conmfirming our Short.
H&S selling the Right Shoulder........
If Prise Continue to fall we will be patient and waite for a good Rally to sell. See Chart below

Directional indicator is neutal at the moment
0.9854 is the 200 on the 4rhs
Price Ranging inbetween the
50% and 38.2% FIBs
From A /1.020 and D/0.955 Dark red Fibs
Weather we will get this Price or not i don't know and wheather prices breaks through B and Previous B?? i don't know so will have to watch and see
4hr chart Coming Up!!!
p.s I'm also watching the dolla index to see wus up!!! :-)

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