AUDUSD: Resuming the monthly rally next
$AUDUSD appears to have comp0leted a correction and is ready to resume the monthly uptrend. We're long and added here at 0.7850 for the last time, after buying at 0.7835 initially.
The trend in EV adoption is driving flows here I suspect, with an increase in the price of copper, iron ore, cobalt, nickel, and other materials required for different battery types. Australia benefits directly from this, as an exporter of these, iron ore and copper in particular. This could drive the long term rally we observe to be active in monthly charts.
See related ideas for more information.
Best of luck,
Ivan Labrie.
The trend in EV adoption is driving flows here I suspect, with an increase in the price of copper, iron ore, cobalt, nickel, and other materials required for different battery types. Australia benefits directly from this, as an exporter of these, iron ore and copper in particular. This could drive the long term rally we observe to be active in monthly charts.
See related ideas for more information.
Best of luck,
Ivan Labrie.
Trade closed manually:
Same reasoning as with gold here.
