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Video: Trading the Potentially Significant Australian Dollar Reversal

By , Quantitative Strategist
12 June 2013 16:20 GMT

Video summary: I wrote yesterday that I thought the Australian Dollar likely set a substantial low. I update those views today with a concrete look at trade setups.

This video likewise updates my DailyFX PLUS trading strategy biases, as they have changed from what I wrote on Monday. In short: I no longer like trading Breakout2 on AUD pairs, as the system does not often do well in times of sharp market reversals. I’ve likewise shifted slightly on Japanese Yen pairs.

View the table below for the full strategy rundown:

Strategy Preferences Broken Down byVolatility Pricesand Currency Trends

forex_video_australian_dollar_trade_setups_on_reversal_body_Picture_1.png, Video: Trading the Potentially Significant Australian Dollar Reversal

As always, I’ll keep my thoughts updated on DailyFX and send out trade updates via my e-mail distribution list.

forex_video_australian_dollar_trade_setups_on_reversal_body_1a.png, Video: Trading the Potentially Significant Australian Dollar Reversal

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--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com

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http://www.fxcmapps.com/trading-station/breakout2/

12 June 2013 16:20 GMT