AUDUSD And Other Commodity Currencies Higher Again?
Hello Traders,
we hope you have a relaxed weekend.
In this idea, we'll be looking at AUDUSD long. As the market shows us a bullish sequence against the December low 2016. We will expect further bullish momentum in AUDUSD. Especially commodity currencies such as AUD, NZD and CAD.
With Gold and Silver, new bullish cycle, we expect aussie, kiwi and loonie also to follow the path of gold and silver moving higher.
But before we call AUDUSD long confirmed, the pair should first take out the high at around 0.77575, to continue its bullish momentum.
In the case of a break of the 0.77575. We will consider long trades after a pullback to the initial breakout level. We will keep you updated with that. As of for right now, we will be on the sidelines, as the pair also could start a lower degree correction from current levels to the last breakout level at around 0.76324.
When we see a significant breakout out of the 0.77575 our target will be around 0.79484, for the short-term, as we expect AUDUSD to move even higher, but this would be the first target which we will consider.
Hope you enjoyed this short overview. We will be publishing charts now more frequently. As always trade with care and always use a stop-loss
Cheers
we hope you have a relaxed weekend.
In this idea, we'll be looking at AUDUSD long. As the market shows us a bullish sequence against the December low 2016. We will expect further bullish momentum in AUDUSD. Especially commodity currencies such as AUD, NZD and CAD.
With Gold and Silver, new bullish cycle, we expect aussie, kiwi and loonie also to follow the path of gold and silver moving higher.
But before we call AUDUSD long confirmed, the pair should first take out the high at around 0.77575, to continue its bullish momentum.
In the case of a break of the 0.77575. We will consider long trades after a pullback to the initial breakout level. We will keep you updated with that. As of for right now, we will be on the sidelines, as the pair also could start a lower degree correction from current levels to the last breakout level at around 0.76324.
When we see a significant breakout out of the 0.77575 our target will be around 0.79484, for the short-term, as we expect AUDUSD to move even higher, but this would be the first target which we will consider.
Hope you enjoyed this short overview. We will be publishing charts now more frequently. As always trade with care and always use a stop-loss
Cheers
