Aussie / USD is trending down making lower highs and lower lows from the end of February 2012.
Chart below.
Price has retraced 75% of the last swing high to swing low and has now broken back down through the moving averages and pivot points.
I am looking to enter a short position on a retest of the averages and pivot points. With an overbought stochastic.
Levels and chart below
Entry: 1.0470
Stop: 1.0495
Target: 1.0345 (5%)
Aussie / JPY
We have a double top at 86.65 and a series of lower highs and lower lows.
Chart below
Price has retraced 61.8% of the last swing move and has broken back through the averages and pivot points.
I am looking to enter a short position on a retest of the averages and pivot points. With an overbought stochastic.
Levels and chart below.
Entry: 86.80
Stop: 87.15
Target: 85.05
I will update when we are triggered into the positions
Have a great day.
Regards
Scott
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