Certainly determining “chop” can be subjective, but here’s how I do it. The daily AUD/USD is moving sideways, most recently with more green GRaB candles than blue or red reflecting that the near-term sentiment and momentum is bullish. The move higher may have some traders thinking “uptrend” but that would not be in line with the current angle of the 34EMA Wave which is still meandering sideways at a “two to four o’clock” angle. This angle is reflective of the lack of organization, a wide, choppy range, and therefore increases my expectation of exhaustion at range extremes. The AUD/USD is heading towards the highs now ... (full story)