If you are not long already, right now could be a good spot to open a position for a move to the next Target on this chart.
Interesting is that this Target stands again exactly at a place where quite some liquidity should be located.
Retail sentiment shows that we are net short by 70% on AUD/USD and I expect the target will be completed and stops collected rather sooner than later.
There is not much more to say here, fundamentally I expect AUD to be a very attractive currency and allow me to repeat a comment I made yesterday on someone elses AUD/JPY chart here:
"The fundamental situation is that the interest rate differential between the other Major Banks(aside from RBNZ) and the RBA is very attractive for carry Traders. Plus there have been a lot of speculation around trading desks that this might attract especially investors from Japan that use the recent appreciation of their currency to invest into Australian Government Bonds. With 3% interest rate differential plus 3-3.5% for the bonds thats a 6.5% return for your investment. On top of that we have rocketing Gold prices and AUD is also the Gold currency"
Also of note is that for first time since mid 2014 when AUD/USD was above 0.90 we have a Dinapoli Uptrend definition on weekly and a Predictor cross on monthly chart.
Question: which platform and indicator package do you use - I am looking for an affordable setup, the best priced that I have found up till now is the Ninjatrader and DiNapoli indicator pack for $80 a month
( https://www.fibtrader.co.za/software_ninja_standard_landing ) do you think it is a good deal?