Audusd Wkly Sun TZu 1. Laying Plans

1. Laying Plans

The art of war, then, is governed by five constant factors, to be taken into account in one's deliberations, when seeking to determine the conditions obtaining in the field.

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The aussie was trading in a narrow range through most of the week, but dropped over one cent following a strong consumer sentiment release in the US.

Updates: The RBA Monetary Policy Meeting Minutes will be released on Tuesday. AUD/USD is steady, as the pair is trading at 1.0454.

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1. RBA Monetary Policy Meeting Minutes: Tuesday, 1:30. Analysts will comb through the minutes of the RBA’s most recent Policy Meeting, looking for clues about future monetary policy, especially as to interest rates. A report which is more hawkish than forecast is bullish for the aussie.
2. MI Leading Index: Wednesday, 12:30. This important composite index jumped 0.8% in August, its best performance since October 2011. The markets will be hoping for a similar strong reading in August.
3. Chinese Flash Manufacturing PMI: Thursday, 2:30. Manufacturing PMI rose in July to 49.5 points, but the index has not been above the 50 point level since last October, indicating ongoing contraction in the Chinese manufacturing sector. Traders should pay close attention to this PMI, as China is Australia’s number one trading partner.
4. RBA Governor Guy Glenn Speaks: Thursday, 23:30. The markets will be looking for some clues as to future monetary policy when Governor Glenn testifies before an Australian Senate Committee.
5. CB Leading Index: Friday, 00:00. This composite index bounced back nicely in July, gaining 0.4%. The markets will be hoping for another gain in the August reading.

 AUSusd We FORECASTER A BOUNCE AT AROUND 1.0384 zone  Bounce 4th wave last week. with the anticipation of a 5th wave push up. However i think it might be to early for this move. Even tho we have a gap up and Three marching solders formation in candle sticks. A drop is still possible looking from a harmonic point of view and the 4hr wave push down could go all the way down to 1.0298 and  hold proceed into wave 5. at the moment the trend is up but just not sure if the volume will be able to gather enough momentum to take it another leg yet. as the Anchor is bearish on the 4hrs and bullish on the daily so in effect we are still correctively bullish until certain price structures are taken out  or confirmed., however it seems there are a few opportunities to go long and short.

The hrly Time frame  may honour the 3 marching solders but it depends on what forces they may run into in the next few days at the moment stand aside as momentum declines and lets wait for a clear opportunity. a head of the news events to night.


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http://www.fxtimes.com/technical-updates/audusd-cracking-key-pivot-after-false-break-above-trendline/