The AUD/USD pair has formed a downward channel over the last couple of days (look on the hour chart and it will be pretty obvious. I plan to buy if it breaks the top and sell if it breaks the bottom on the hour chart. My stop will be the other side of the channel. Profit target for a sell will be 0.6250 with a move to breakeven at +50 pips. On the buy side the profit target will be 0.6625 with the same range for move to break even. I'll keep you posted.
Happy Trading!
Happy Trading!
