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AUD/USD - A second look

Posted on May 19, 2009 at 0:17 in Uncategorized by Ross Yamashita

Hello everyone and welcome back to another week of trading.

AUD/USD

Pulling up the AUD/USD daily chart, we see that we are forming what seems to be the final wave of a corrective movement. The last couple of candle formations along with looking at the shorter term charts shows that there is still potential up movement for this currency pair.

Once it tops, then look for a steep movmement down - however, we still seem to be finalizing the corrective movement so look for a potential trade to the upside.

Be sure to check your announcements, apply your own money management and always use your stops in case the market turns against you.

Good luck and we’ll see everyone again shortly.

Tags: AUD/USD, Currency Trading, Elliott Wave, Forex, Pro Pipper Trading, Ross Yamashita

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