Just waiting for price to complete a Fibonacci retracement [back inside the 33%-38% Purple Zone] before adding additional Buy positions. There is horizontal Support around 0.7360 so from there we look to hop back aboard the fast moving train and follow the "current" path of least resistance :)
The next major train station is near the 0.77740 price area (the Red Resistance Line) so look to Take Profit or move/adjust your Protective Stops there. If price does pullback to the 0.73600 area this should be about a 380+ pip run to that Red target.
This pair has been trending up very aggressively because of the increasingly strong Aussie Dollar. Over the long-term I am bullish on AUDUSD, AUD/CAD, AUD/NZD and slightly bullish on AUD/CHF. On the other hand, I still maintain a bearish outlook on
EURAUD
, GBP/AUD and AUD/JPY due to the way the pairs are correlated and the bigger chart price structures. I like AUD pairs a lot because they have such smooth price movement and they trend well beyond expectations. When AUD trends, it really is like a fast moving train with no brakes.
Good luck traders, and may all your trades be profitable!
The next major train station is near the 0.77740 price area (the Red Resistance Line) so look to Take Profit or move/adjust your Protective Stops there. If price does pullback to the 0.73600 area this should be about a 380+ pip run to that Red target.
This pair has been trending up very aggressively because of the increasingly strong Aussie Dollar. Over the long-term I am bullish on AUDUSD, AUD/CAD, AUD/NZD and slightly bullish on AUD/CHF. On the other hand, I still maintain a bearish outlook on
EURAUD
, GBP/AUD and AUD/JPY due to the way the pairs are correlated and the bigger chart price structures. I like AUD pairs a lot because they have such smooth price movement and they trend well beyond expectations. When AUD trends, it really is like a fast moving train with no brakes. Good luck traders, and may all your trades be profitable!
