Forex Event in Forex Calendar today
Aug 18: FOMC meeting minutes and AUD Employment Change and Unemployment Rate
Yesterday I pointed out in this posthttps://plus.google.com/+Terraseedsforexstrategy/posts/bEpHf2fTcqf that #usd still have room to fall, with 2 possible targets (at ED low - which was reached and at horizontal support level).
At the same time, #USDJPY plunged below 100 and reverses from that level. 99.50 is a very strong support level so I'm not surprised that price reverses.
Coming up, my focus will be on #AUD , because on the bigger picture, higher time frame shows #audusd at resistance 77.50. A strong support at 76.40. If this level is broken, should see the start of a temporary bearish move in #audusd . Tomorrow employment data will be key.
Note, we have a short position in #audjpy already at 78.30. We took profit at 77.10 and have a second TP level waiting to lock. This trade has been shifted to risk free.I love risk free trade