Great week with AUD and equities positioned for a surge into a likely mid term top.
A/U has an invH&S target up at 106.85, above daily resistance at 106.25 +.01/d. Daily's trend corresponds to ~76.4% level from last weeks low of 104.23. Sectioning the two is the 50% retrace from recent low to Feb's high at 106.39, and the invH&S 106.85 is around the 61.8% level. A/J a chance of full retrace to 2011's high of 90.04
E/U a possibility of reaching daily trendline up at 132.5 if it manages to shoot thru 132. With recent AUD correlation, would put A/U at or higher than its 50 ret of 106.39
US equities likely to continue their rise, weekend Apple sales not expected to dampen general market much. Dow lining up for a push for 13640 and Spx at 1455, major weekly res lines up from Mar09 lows. Increases from current are 3.1 and 3.6% rise resp, whichever first is a closelongflag.
Oil to also rise, with a serious attempt at 100€ for Brent. Cu to attempt a clean breakthru of Feb11-Feb12 trend ext at 392, almost got there Fri.
In for the ride.
AUD Price at posting:
0.0¢ Sentiment: ST Buy Disclosure: Held
