A Technical View Briefing

Posted by on Jul 29, 2013

By Luke Macumber


uptrendTechnical Strategy Brief.

My current fundamental view for this week 29 July 13:  Unchanged from previous week.

USD – Long    JPY – Short

GBP – Short    EUR – Short

AUD – Strong Short

Long:  USDJPY

Short:  EURUSD, GBPUSD, AUDUSD

One strategy I use combines Elliott Wave, Fibonacci and the Awesome Oscillator.  Without going into too much detail I trade the 5th wave mostly on the 4 hour chart.  This is an AUDUSD Daily with a potential setup coming soon (maybe a week or 2).  I will look for a retracement to at least 38.2% and then look for momentum to shift back to the downside.  Remember, our view of the AUD is Short!

AUD SHORT FOREX

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