Fibtree
Long

AUDUSD should continue to next Target and could be long term buy

FX:AUDUSD   Australian Dollar/U.S. Dollar
134 3 2
9 months ago
If you check hourly chart you can see that we had two retracements to the 61.8fib level of the most recent upmove there. Both times we came right back up and had a close well above the 3x3 DMA (Green).
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 Bullish MACD Predictor cross on monthly chart.
9 months ago
Comment: Perfect so far, not much to add, looking good to reach Target and long term is also good perspective, especially if you check recent CFTC data...
9 months ago
Trade closed: target reached
AdamFx42
9 months ago
I am very interested in DiNapoli and am reading the book at the moment
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?
Reply
Fibtree AdamFx42
9 months ago
Definatly but there is a special offer right now cause Ninja Trader is the newest platform where the tools are officially supported.

Check this out(only valid till mid march):

https://fibtrader.co.za/software_ninja_trader_landing

I use CQG but thats quite expensive compared to Ninja Trader...
Reply
AdamFx42 Fibtree
9 months ago
Thank you very much for your help :-)
Reply
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