Brad Gilbert

CEO & Founder of Traders4Traders – Brad has been trading for 28 years and was a former Chief FX Trader for Citibank. Brad trades mostly the Asian Market.

Trades: EUR, GBP, AUD, NZD, CAD, JPY, CHF, DOW, SP500, OIL, GOLD

 

Overview

Today’s Aussie CPI data gives us a clean chance to get into the current downtrend. Today’s price action will come straight from the CPI data so if it comes in weak all the momentum will be on the downside and we ‘need’ to get in. So I’ll be looking to get short on weak CPI at market.

Don’t forget we have the FED meeting announcement later today so if the Aussie CPI data is weak and we are short AUDUSD, I’ll need to manage the position ahead of the FED. But once again a strong FED Statement sets this pair up for a much bigger move to the downside!

Current Technicals: Down

Hourly Resistance: 0.6900

Daily Support: 0.6850

AUDUSD HOURLY CHART – Current Price 0.6870

Current Fundamentals: Down

Central Bank Sentiment: Down

Geopolitical Impact: Down

Upcoming Potential Fundamental Drivers

Trade Execution

Our Preference

Short positions below 0.6900 with a target at 0.6750.

Execution

This is a live trading opportunity so I’ll be using T-Rex  to get me in and out of the trade. You could of course use Guerrilla Trader.

The Result we need: CPI Q/Q ≤0.3% and/or Y/Y ≤1.2%

Entry-level: @Market

Stop Loss: Above 0.6900

Take Profit: Towards 0.6755

NOTE: Just be wary of the price action around 0.6850 as that’s where Daily suppoort resides. If it breaks through here it could be a good place to add to the short position.

Trade Outcome

Aussie CPI data came out better than expected and completely diffused the downside move.

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