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My AUDUSD Jan 9-13 trade plan

FX:AUDUSD   Australian Dollar / U.S. Dollar
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1. A good buy entry if price breaks above 0.73300 with T.P. @ 0.74500 with S.L. 0.72700. The market has retested previous (last May of 2016) support level 0.71700. If the price continue to go up and break 0.73300 level, the bulls are in control and may possibly test the 0.74420 level where prices consolidates during November 21 up to December 05.

2. A good sell entry if price break below 0.72650 with T.P. @ 0.71700 (TP1) with S.L. 0.73100. If the market cannot sustain the current bullish momentum, it may very well retest the 0.71700 level.

Here are the factors that may move the market for the week. Alternatively, check forexfactory.com calendar.
Jan 10 Tuesday 8:30am SGT, AU-Retail Sales m/m
Jan 12 Thursday 9:30pm SGT, US-Unemployment Claims
Jan 13 Friday 8:00am SGT, US-Fed Chair Yellen Speaks
Jan 13 Friday 9:30pm SGT, US-Core Retail Sales m/m
Jan 13 Friday 9:30pm SGT, US-PPI m/m
Jan 13 Friday 9:30pm SGT, US-Retail Sales m/m

Comments

Midweek update:

The long entry @0.73300 was triggered and the the TP 0.74500 has also been hit. A retracement could happen and may touch 0.73800 before it potentially continue towards 0.75300.

Next week will be more interesting.
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