Thursday 18 February 2010

AUDUSD - goose cooked or one more high?



I really like AUDUSD as a potential short, but I'm not sure if it's quite done to the upside just yet. It's hanging onto the trendline and 50% fib support right now. I suppose this could make a ballsy overnight long. But not for me!

UPDATE: Ok, maybe just a cheeky one - I can count a double zig-zag down from the high and we're expecting more upside from equities tomorrow, so that is supporting - if I'm right it should test the 61.8% fib (fell just short today). Placing stop just below the 50% fib.

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