AudUSd 07/03/2012

Lets start with the Daily being Correctively Bullish ( the only thing that worries me is that the aud has failed to rally back to the Larger medium Line so this signals a drop to the base line EMMMM!!!

Although this trade is still in its infantacy on the 4hr time.
I took advantage of the weekly Pivot support @ 1.05392 using the 4hr Anchor System
We had RBA keeping intrest rates the same @4.25
As the drop in the audusd slowed down and the dolla index peaking today @ 73.200 I took advantage


A 4hr fractral at A wkly support level 1.05392
A True swing buy signal warning us of a possiable surge to the 8Dema. A close above the 8Dema @ 1.0572 which also happens to be montly s1 turn resistance @ 1.05821 a break above there
Will continue the reversal upwards
But not so fast we have unemployment rate and change due out later today so will have to waite and see.
So we are still correctively bullish on the daily (see rules above) untill 1.05821 montly pivot can be recaptured and held



Hrly Below
You can see Yellow 4hr confirm push above 50 while the stochastics hrly dips to the up side
4hr blue line rsi rising
volume surge not great on the hrly but i did say this trade is still young will have to want and see what happens in th e market and employment figure results draws closer
P.s i have to go down to the 5 min time frame to get entry not something i ususally do but becasuse the trade is only in its potential stage i took the chance with tight stops . presently, my stop is at break even.



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