Gold has not yet finished its upward cycle, in my humble opinion.
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Gold has not yet finished its upward cycle, in my humble opinion.
Technician, and parity is not so far, 301 pips, so it is extremely possible.
I opened a long position of 1 lot at 0.9501 after the price fell below 50% of the Fibonacci level in the 4h graph.My Stop Loss is at 0.9460, looking for 0.9621/61.
Just out of curiosity, what foundations do you think will drive the Aud above parity now, or is it just a technical call?
I agree, but 0.9491 is my long -term trend line in the weekly graphic.It could move upwards quite fast from here, if that line of trend is correct.
I agree, but that is looking at a horizon of more than 2 months.For the next few days, my graphics show a consolidation before the next rising impulse.I will take a long position only if it breaks above 0.9681/0.9701, and then the parity will become a more viable objective.
Thank you, I see that Au will be above parity very soon.
... Discussion about the aud/USD in key support ... The AU is at a critical support level.If it breaks below 0.9471, we should see a fall up to at least 0.9401/0.9381.The fundamentals do not support the Australian dollar in the short term and the probability of a type rise is decreasing.I have opened a short position at 0.9506 with a SL at 0.9651 and TP at 0.9401.