AUD/USD - KEEP ON RISING

28 ก.พ. 2016

I seriously can’t work out where this pair is traveling. First we have this massive sell-off from the 90’s and it’s all doom and gloom. Then, price dances around the 70’s level and we now have a very clear short-term bullish bias.

As an Aussie, I see nothing but bad news (and data... aka slowest growth in salaries for 18 years) and poor governance from the Federal government. The chart is telling me buy, my emotions are telling me sell. For this reason, I am steering clear and just watching, until.....

I am strongly of the view, as you may have noticed, that we will see significant USD weakness starting when Dow Jones creates another LH. If this is true, then I will contemplate buying if price closes above 0.72454 level.

If I do buy, then it will be up to at least the high of 7380, of which coincidentally was a nice double top (13/10/15 - 07/12/15)

I would seriously love to hear your thoughts about this pair, because I’m really out of ideas (except for the above, lol).

AUD... Keep on rising youtu.be/sy_c_1rXkYk