20th November 2008 AUD, EURO part 2



AUD 11:15

AUD has closed right on its Wednesday lows.

As per previous report there is an expectation of lower prices on Thursday, but price can still swing upwards into the 50% levels before it continues down.

Short 6397...

Ideal pattern would see the AUD capped below 6398 and move into a multi- 41 point ranges below this level.

There could be 3 to 4 rotations.

The closer it comes to 3pm AUD will make it's move either way.

Therefore, i'm either going to get stopped out (6410)

or I'm going to partial exit @ 41 pips and trade any tops around this level for the next 4 hours.