Here we can see the market has completed a 5 wave sequence. The rebound we have seen from the cycle lows are starting to gain momentum and a break above the 200MA will trigger the momentum in the move.
Those following the live updates will already know we have been bullish on AUD since the 0.68 / 0.69 lows. The impulsive nature will be confirmed above 0.7127x which will trigger a flow towards 0.726x. If the thesis is correct and we have seen a 5 wave sequence completed, we 'know' that the market will continue to remain bid and the underlying direction will be sideways/higher.
All not holding positions already it is better to sit tight and add on a break through the 0.7091 and go massive above 0.7126x ... main target 0.7260x.
I know many from the room are already fully loaded on the buy side, time to sit tight and continue working longs on the break.
Those following the live updates will already know we have been bullish on AUD since the 0.68 / 0.69 lows. The impulsive nature will be confirmed above 0.7127x which will trigger a flow towards 0.726x. If the thesis is correct and we have seen a 5 wave sequence completed, we 'know' that the market will continue to remain bid and the underlying direction will be sideways/higher.
All not holding positions already it is better to sit tight and add on a break through the 0.7091 and go massive above 0.7126x ... main target 0.7260x.
I know many from the room are already fully loaded on the buy side, time to sit tight and continue working longs on the break.
