Hi guys,
I just received this from a place I subscibe too, they are generally pretty accurate. This is only informative and interested in your thoughts.
Cheers
Phil
AUD/USD TRADE
The Aussie is really showing some great signs for a short against the US Dollar on several charts. On the daily chart we see a bearish trendline extending lower from the October 14 high around 0.7200 and touching yesterday's high. On the 180- and 60-minute charts we can see two double-tops that have recently taken shape. Finally, we have just dropped below a small bullish trendline on the 60-minute chart. We are looking to short at the current price of 0.6570 with a stop around 0.6625. While we could find some support near 0.6500, this is a swing trade and we are therefore targeting larger gains to the 0.6300, possibly lower. Those who wish to have a wider stop and trade fewer lots may use a stop loss above 0.6645 resistance for additional breathing room.
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