Thursday, July 28, 2011

Thursday 7/28

Just shorted AUD/USD @ 1.10040
Stop 1.11500
Target 1.0900

There is a double top on the hourly and AUD/USD has been going up in a vertical line since 7/18. Its up more than 500 pips without any serious pullbacks. I think we are due for a small sell off to 1.0880 (61% fib since 7/18 leg up).

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