AUDUSD: If it climbs over resistance, monthly rally can resume..

I started averaging into an $AUDUSD long here, first entry at 0.7537. I suspect we might have what it takes to break above the monthly mode once again, and given the potential bottom in the Euro, and how strong the Aussie has remained all along, as $EURUSD was plunging, it is in a good position to rally from. It acts as a sort of proxy for emerging markets and China overall, a growth proxy.
Best of luck if going long,

Cheers.

Ivan Labrie.

Kommentera:

#AUDUSD: Target for now is 0.76427 within 6 more days after today, we may add on dips tomorrow, while still averaging into the longer term position with no stops

Handel aktiv:

-I took a shorter term signal with a tight stop here-

Trade stängt manuellt:

I think the dollar might regain strength, fundamentals don't favor a rally in the Euro, and it seems like the Aussie dollar chart implies weakness here. Gold also not acting strong at all. Abandon ship...