A Flagging Aussie!

Good Morning Dynamic Traders!

This morning witnessed explosive action which may have been caught by the early birds amongst you!
One of the many pairs that enjoyed the vigour is the AUD USD.

After last evenings webinar, "trends" should be at the very fore front of your mind.

The monthly chart proves that this pair is relishing a forceful down trend since July 2008 ,having demonstrated an unchallenged uphill stride for almost seven years!

Below is the weekly chart for the same.

Notice a "textbook" bearish flag formation recently completed by the candlestick cue and a critical fib cluster.

Clever Dynamic Traders will grab a quick glance at the AA ma's and may be ready to pounce on a likely alignment.


AUDUSD weekly chart Advanced Get

The daily chart (below) displays this recent retracement with more clarity.

Price has beautifully bounded off the breather zone, heading back down under!
The aggressive traders amongst you may well already have seized the opportunity.

But the market always offers zones for entry!
Heed the current price point which is seated at a crucial support fib.

An additional opening for a conservative stance may be on the cards provided ESLT is engaged diligently.


AUDUSD daily chart Advanced Get

Fun Trading!

Saba Jackson