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Aussie….again

I thought I would post this as an example of something that is profoundly irrelevant to traders. However, the problem is people actually take this nonsense seriously and base their decisions on it.

If you look at both the daily and weekly trend of the AUD it is up. Now whether that continues and for how long it continues is simply a guess. But the trend is up at present and therefore the cue for traders is to be long – not short and not neutral. The only logical thing you can do in an uptrend is be long until the damned trend changes.

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