Hello everyone and welcome back to another week of trading.

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.

Hello.

Our scan brings up the AUD/USD 5 minute chart. We loaded a lot of data so you can see where our trend lines are drawn.

The trend is up, however, look for a potential pull back to our trend line or even to test the low of .7465 (marked by the black line).

I know many of you are thinking - this is a double top. Although it very well could be a double top, the trend seems to be up, which means that we will see a cotinuation. If it goes below the low at the beginning of our trend line, then that would invalidate this forecast.

If we don’t see you again before the end of the NY session, we hope that everyone has a very nice and relaxing weekend.

Be sure to check your announcements, place your stops and apply your money management.

Hello.

It’s the middle of the Asian trading session and we’d like to update everyone on the AUD/USD Daily chart.

The daily chart has formed somewhat of a triangle and we are nearing the breaking point.

Watch for the currency pair to break either Trend Line 2 (TL 2 ) or Trend Line 1 (TL 1 ).

If it goes up and breaks TL 2 and continues moving upward, then look for a good movement up to test the top of high of 1/7.

If it goes down and breaks TL 1, then watch for it to test the low of 10/27/08. If it breaks and moves lower, then look for a good movement down.

We will most likely see what unfolds on Friday mornings USD’s NFP announcement.

Remember to use your stops and apply your money management.