AUDUSD Forecast and Trade Setup Cypher Pattern - 5th Feb 2014 5/02/2014
Daily Chart
Hourly Chart
The Aussie spiked up due to the RBA giving a neutral tone and also suggesting interest rate to be in the 2-3% range (2.5% currently) which the RBA don't normally tell what the future is. And finally did not try to downtalk the aussie, which suggest that they are comfortable in the high 80's.
Having said that, my setup is still valid as a cypher (for pattern traders) or Fib traders. So technically its still a good short area.
Will we find new lows? - i am 50/50 so please take partial profit when we hit the B point of the cypher pattern
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