Trade Entry: AUD/USD Short Position, 09-Jan-09

Security: Spot FX (mini) AUD/USD
Direction: Short
Opening Price: 0.71198
Contract: 1 (mini)
Opening Contract Value: A$10,000 (US$7,119.8)
Limit Level: 0.6700
Stop Level: 0.7380
Amount Risked: A$260
Interest rate differential fee: -4% p.a.

Technical Justifications:

1. Latest economic data (housing data) points to bearish AUD/USD, see this article.
2. Candlestick analysis shows bearish signals (Hanging Man and Bearish Candle confirmation), see this article.
3. The AUD/USD reached initial resistance from the confluence of the October 14th high / 38.2% of .9856-.6005 at .7247/56, see this article.

Chart