Brian Twomey
Brian's Investment
AUD/USD overall bottoms, 0.7083, 0.6933, 0.6883, 0.6808. Bottom for today, 0.7508 yet current price is below bottom. Australia markets are now beginning to reflect on Wednesday the RBA OCR cut on Monday. What this means is we began the week at maximum trade pips at 35 and 26. Today, ranges severely decreased to maximum 17 and lows at 11. The slowdown so far is here therefore AUD is heading back to its age old traditional ranges until new inputs are revealed. Inputs are the genius of Knut Wicksell invented and revealed about 120 years ago in interest rates.
Central banks 120 years ago the world over found Wicksell and designed an entire financial system based on his absolutely groundbreaking revelations that holds true today. As long as a traded market price exist, the system remains and that includes a market price under GOLD, SDR, free float or any created invention to a market price. AUD price in also in day two of the traditional 5 day maximum volatility window.
Because the market price is below its bottom and every trade able price, two points to view AUD today. The first is it means at least today, AUD is oversold. Secondly, AUD must be traded based on ranges and major break points. I add with respect and sincerity, I studied Wicksell deeply in depth to design a daily trading system introduced in the last week to serve any currency pair. The model is actually the design of the central banks and can be seen for interested in 300 + daily trades over about a 3 month period.
Vital break points above 0.7585, 0.7582, 0.7579, 0.7577, 0.7524, 0.7520, Solid between 0.7513 0.7517, 0.7499.
Here;s how to view the bottom prices today, Major points 0.7471 and 0.7434. Then big break in ranges below, 0.7434, 0.7333 and further out 0.7220. Watch closely 0.7434 as next big point break to see AUD lower.
Target above is 0.7532 and failure point at 0.7514, 18 pip difference and 1 pip shy of maximum 17 pip range today. Trade able levels to see 0.7532, 0.7508, 0.7511, 0.7516, 0.7521, 0.7523, 0.7528, 0.7532 target. Why offer all points is due to many scalp traders to know the best trade able intervals.
Trading currencies and other financial instruments carries a degree of loss and possible loss of entire investments. Please managed your own risks, stop loss, and margins requirements.
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