New trade possibility

Forex360 has some pretty good analysts (including the aforementioned Kathy Lien.) Frequently they send technical trades to your mailbox, and this one caught my eye. (They are already in the trade.) Here is the chart (clicking on it gives you a clearer view):



As you can see, I have a stop order to short the AUD/Greenback @0.7510. I think it is a good short term and good intermediate trade. I like the Bearish Gartley formation that is in progress, which is one of my favorite technical patterns to look for.

Another thing I like about the trade is that the Ozzie has basically crushed the Dollar since early March and looks seriously overbought.

Forex.com expects equities to go down, even if there is a better then expected unemployment report (<600,000.)...Sort of a sell on the news type thing, I guess, and they would look to short Gold. That confirms our trade a little because the AUD/Greenback is a commodity currency (Australia is a big Gold producer.)