All signs pointed to further weakness for the Aussie

Forexmentor.com Forex Trading Price Action

AUD/USD: Facts – Negative divergence STO-to-price on the daily chart; inverted hammer on the weekly chart; thrust three in place on the weekly chart with confirmation from STO; downtrend continuation pattern on the 15 minute chart; 200, 100, and 50 EMAs all stacked in that order with a downward bias – all this evidenced before midnight ET. Translation: Watch out below! Sure enough, when the NFP news came out today, the Aussie continued its trek south. Now, while I have said many times in the past that you should be out of the market on an NFP day, say from 8:15 – 8:45 am ET, when you see all of the evidence that I presented above before that report comes out, you may wish to do what the smart money would do, and that is to take the short trade, in this case, before the news embargo lifts at 8:30 am ET, and hold it through the news hour. All signs pointed to further weakness for the Aussie, as well as other currencies like the euro and pound. So, a short trade on all three pairs would have worked famously in this case. For more on the secrets the Big Dogs have been hiding from you, check them out in the members’ area at www.forexmentor.com.

See latest sample AM Review at: http://www.forexmentor.com/sampler/