daytradingzoo
Long

With USDOLLAR weakness I like the AUDUSD long

FX:AUDUSD   Australian Dollar / U.S. Dollar
293 0 0
From a weekly perspective we are making a double bottom . CCI (20) has signaled above -100 last Friday indicating a buy. We held channel support and the 76.4% retracement. I like a long with a 6 week time horizon for a retest of the upper part of the channel. Obvious stop below the recent low of 0.8830. That's over 5:1 reward/risk ratio if we see 1.0000 again.
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