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AUDUSD Enters Breakout Territory for Next Week
Back on February 26th, I wrote about the AUDUSD. I stated that “AUDUSD is a buy above 0.7240, but not before”. That comment was based on the trend line that extends from the December 2018 high which is also descending channel resistance. I wrote that post when the pair was reaching for the 0.7240 area in late February and early March. Of course, AUDUSD never got there. But the premise of my February 26th comment is alive and well. In other words, the price at which AUDUSD breaks out isn’t important. What matters here is whether buyers can clear channel resistance on a daily closing basis. At the moment, that ... (full story)
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- Apr 12, 2019 12:21pm Apr 12, 2019 12:21pm
- Up-trend
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- Erebus
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