AUDUSD: Update - Consolidating here will give us continuation

If AUDUSD is to hold here, and eventually break out, and cross the overhead resistance, we can see a massive rally take off, which you definitely don't want to miss. If you missed my previous entries, you may go long here, risking a drop under 0.7811. Keep risk to 0.5-1%. This is a swing trade setup.
If you want, additionally, or perhaps if more conservative, you may use our monthly setup stop loss: 0.75248. Upside is significant, so don't miss this opportunity!

Good luck,

Ivan Labrie.

Comment:

We didn't take too long and we already have a strong breakout out of the consolidation. We'll have to wait and see, hold longs and buy any setback from the previous daily close.

Comment:

Very constructive here. I added when we broke yesterday's low. I will sell partially a tad higher, while we wait for the breakout.

Comment:

www.zerohedge.com/ne...ture-bill-until-2018

This is a fundamental problem with the Aussie rally thesis. We might just top against the resistance level here...hopefully not, but it could happen. I reccomend only holding the monthly entries, and not adding long entries up here.

Comment:

AUDUSD is outperforming Steel, Iron Ore and Copper...Remarkable, but the situation is worrying. I'm wathing to trade the chop. I'll buy dips and sell rallies, whilst not selling my long term position. It's already risk free with all the short term longs I closed in profit.

Comment:

Holding, I added near today's low, twice. I'll close this short term trade rallying back to today's highs. Holding above here will be positive until the pair is ready to break out of this long term monthly range.