The target is the 0.8350 handle, to be confirmed after the bi-weekly time at mode signal on chart confirms. For now, it's not yet confirmed, but highly likely, so we can get in early on. I'm adding a shorter term entry here, on a break of Friday's high, with stops under Friday's low, to complement my longer term position in this pair.
Check out my copper forecast in the related ideas, as well as the oil an commodity index charts. We're in the brink of a massive move, that if confirmed, can be ridiculously profitable for all of us if it pans out like I expect it to. This also ties nicely with China's inclusion in the SDR basket today, OPEC's deal, fears of Deutsche Bank's failure dissipated, and Australia's fundamentals overall.
Holding USDJPY long, GBPUSD short, XAUUSD short, XAGUSD short, NGAS long, USOIL long, and equity/commodity trades.
Reentered AUDUSD long:
AUDUSD stopped, have to reenter on a break of Monday's high.
I close half because it's close to my stop, if I'm stopped out I lose less than my original risk, if not, it still has a chance of making money. I only do it when things show me reduced odds, say 50/50%.