LONG bias @.6889
AUDUSD has been in a strong uptrend.
After breaking through the 200 SMA buyers quickly drove up the price piercing the 500 SMA on June 3rd, ultimately reaching a recent high near 0.0706 .
June 11 it fell below the 500. 2 days later it was retesting the 500 before going through 4 more days of rejection. After the break and retest of the 500...
LONG bias, daily
Gold recently found support at its 13, 20, & 50 SMA before ripping from $1720 to $1740. Currently resting near recent highs.
Given SMA support, STRONG fundamental sipport (monetary debasement) and consistent accumulation above 1680 going back to April 9th, GOLD looks ready to breakout.
50% Target. next VPOC, +$20. 1:1 stop
LONG bias
Lots of volume on Friday near June 8th High at $40.42. Late selling took her down $1. Ended week and day positive.
Break above to next higher VPOC, 7% return, 1:1 Stop.
SHORT side:
- Potential Double Top pressure could lead to short term weakness
- Any new lock down measures or fears may cause weakness
