MY SHARED AUD/USD IN THE TRADING ROOM PRODUCED +138 PIPS

Last night in the Trading room, live currency analysis was taken place while live streaming of market data was streaming onto the MT4 platforms.

See below my shared trading plan along with updates:

Wednesday, June 9, 2010

No BUY/HOLD and/or SELL recommendations!

Legend: S/L – Stop/loss
        T/P – Take Profit

The Take Profit is the final destination. Check the various S&R while
the currency pair is cycling up or down.

Utilize the Expert Adviser for trailing the Stop/Loss.

WARNING!  HOT NEWS DRIVERS, rate decision BOE & ECB! Stay away from the market reaction!

Currency pair:   AUD/USD    Weekly PIVOT 0.8283   

The AUD has been showing lots of volatility this morning, from .8290 to .8265 and back up to .8305.
The Australian unemployment rate reached 5.2% in May, against 5.4% in April.
This result beats market forecast that expected the rate to be unchanged at 5.4%.

The Australian dollar is rallying after the data was released, AUD/USD jumped from the 0.8280 zone toward the 0.8320 area. AUD/JPY jumped 40 pips immediately and is around 75.90.

EUR/AUD is almost 50 pips lower trading at 1.4400 and AUD/NZD quotes near to 1.2350 on its way to recover the previous losses.

AUD/USD DIRECTION: (LONG) as long as the currency pair penetrates 0.8327 (200 Moving Averages).

BUY 0.8358 S/L 0.8248 (100MA), T/P 0.8400

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Update: Thursday, June 10, 2010

AUD/USD – The Australian Dollar has been posted important gains against the U.S. Dollar and is basically holds near daily highs.
The pair rose further during the U.S. session and peaked so far on Thursday at 0.8500, the highest price in a week.

Current price at 0.8501. Further cycling up to the upside resistance levels lie at 0.8500 and above at 0.8521 (June 3 high 09:00 GMT) and 0.8550.

Once the alarm went off and verified, the trade was triggered. Entry at 0.8358, the position is still open.

Current price at: 0.8496 the trading plan assisted in generating a
positive trade at +138 PIPS.

Regards,

Efraim
‘THE PIP DISPENSER’

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