AUDUSD: Uptrend continuation finally confirmed

FX:AUDUSD   Australian Dollar / U.S. Dollar
We have reentered as per my latest update in my previous publication, see related ideas. Price has expanded the daily range today, so it's clear bulls are active, and we can expect to see a very nice move to the upside.
If not in, I'd reccomend rushing in with longs, stops can be under the swing low, or even under today's open.
Sentiment is extremely bearish for copper             and it has hit a huge support level , which translates into AUDUSD             rallying as well.

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Comment: I reccomend closing half the position, the fact the move was retraced isn't good, but might still actually work in a few days.
Trade closed: stop reached: Seems like it's not cooperating. Let's stand aside.
Comment: http://www.zerohedge.com/news/2016-05-23/who-right-between-oil-and-other-commodities-one-hedge-funds-opinion

A good read, mostly similar to my opinion. There's huge divergence between base metals and oil, I anticipate jpy making a leg up, while eurusd and metals do too, but it's proving tricky to catch...this should coincide or precede a drop in oil, closing the spread.
Trade active:
Comment: Boom! there we go.
what is the blue line in your last picture?
IvanLabrie VivaciousVV
Hi, that's one of the indicators in the 'Key Hidden Levels' pack from the marketplace. Rgmov, it's a proprietary trend analysis indicator.
Yep there goes your AUD rally.
Does seem to be copper leading the moves on metals with the precious lagging to following suit. Oil hasn't taken any notice as of yet but that correction feels itching to take place.
Personally think copper looking to turn north ahead of the pack with gold and silver just starting their descent.
All metals should rally slightly now, not sure for how long.
Large speculator shorts have closed their long positions in gold, while commercial shorts are unwinding according to CoT.
as well!))
And off we go guys.
+1 Reply
Agreed, the fact that the pair did not make a new low confirms that the bounce is imminent.
+1 Reply
Agree. I think that above 0.73 it will be confirmed
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