AU - Building steam for a run to 70c ?
As usual - Do your own research, this is simply how I am perceiving the markets this week.
With the end of last week seeing some strong weekly moves to key areas; I think this week will provide some exciting opportunity to make some $$$
AU made a nice push to the upside before reaching some exhaustion/resistance areas under a weekly bearish trend line.
HH and HL have shown that AU may be in for a run upto the key 70C mark - and possibly further if the USD breaks down around the area we are currently at.
current @ 6850, this provides a great R:R opportunity for 150 pip move to the upside if entering longs @ current position.
A break and retest of the Trend line could also offer a second long chance for those who wish to wait for further confirmation of bullish sentiment with AUD.
Long @ 6850
stop @ 6820
TP @ 7000
Win / Lose I will provide an outcome once we reach stop or TP.
With the end of last week seeing some strong weekly moves to key areas; I think this week will provide some exciting opportunity to make some $$$
AU made a nice push to the upside before reaching some exhaustion/resistance areas under a weekly bearish trend line.
HH and HL have shown that AU may be in for a run upto the key 70C mark - and possibly further if the USD breaks down around the area we are currently at.
current @ 6850, this provides a great R:R opportunity for 150 pip move to the upside if entering longs @ current position.
A break and retest of the Trend line could also offer a second long chance for those who wish to wait for further confirmation of bullish sentiment with AUD.
Long @ 6850
stop @ 6820
TP @ 7000
Win / Lose I will provide an outcome once we reach stop or TP.
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