Sorry about the headline but i wanted to write something more eye catching than just Buy AUDUSD. But the point of this post is to tell you to BUY AUDUSD!!
But WHY do i buy AUDUSD Kyle i hear you ask? Well….
1. Because it is going up! (If the head of Goldman Sachs can state the bleeding obvious, then so can i! See yesterday’s words of brilliance)
2. I really like the way the 5, 15 and 50 day MAs are supportive of a move higher.
3. I think we will pullback to the 0.6600 at a minimum given the difficulty we are having taking out resistance at 0.6850 which is also where the 100 day MA comes in. (Spooky!)
4. Despite on spike lower, we have held the base of the upward sloping channel on the daily which is targeting levels above 0.7500 at present.
5. The technical studies on the daily seem to be waning a little which makes me think we come back to the 0.6550/0.6600 region to regroup a little before heading higher which is the reasoning behind my levels below.
But WHERE do i buy AUDUSD i hear you ask? Well….
1. Buy AUDUSD 0.6620
2. Buy AUDUSD 0.6550
3. S/L AUDUSD 0.6470.
