Francesc Riverola,AUDUSD, still targeting new lows… by David Solin, Partner at Foreign Exchange Analytics
Aussie continues to chop within the .6005/.7010 that has been in place since late Oct. With no signs that a more important bottom is in place “pattern-wise” (5 waves up on the short term charts for example), suggests that the last month of trade is a large correction/ consolidation and with eventual new lows after. Note too the 5 wave fall from the .7010 high (see shorter term chart at www.fxa.com/solin/comments.htm ) also suggests that the bigger picture downside is not “complete”, and adds weight to the view of eventual new lows below .6005. For now want to be short for the bullish trendline from Oct 27th (currently at .6075/85), .6005 and below, and would reshort here (currently at .6425).
View Full Article
Francesc's Weblog
Subscribe
Or subscribe via email:
Categories
Archives
Recent Comments
- Marc on Retail Forex Industry - Where Are You Heading To?
- James hall on Shares Magazine Awards - No longer unbiased?
- Pal on NFA - New Rulings Coming Along Will Change The Forex Industry Forever
- Marc on FXstreet’s Walls… What the hell are they doing to my precious office?
- Ron on FXstreet’s Walls… What the hell are they doing to my precious office?
Next webinar
Using Fibonacci ratios to manage your trades efficiently
by Sunil Mangwani
November 23, 10:00 GMT
Register for the webinar
Tags
ACM blogs CAG CFTC Crown Forex Crown Forex S.A Currencies at a Glance cvj Danske Bank David Solin Dollar ECB Euro EURUSD FIFO NFA rule Financial Crisis FINMA Foreign Exchange Analytics Forex Forex.com Forex Fraud Forex Learning Center Forex news FXCM FX Solutions FXstreet.com FXstreet.com Traffic Stats GFT interest rates International Traders Conference ITC ITC 2009 National Futures Association NFA Non-Farm Payrolls Rob Booker Saxo Bank Sivaraman stats traffic USD US dollar US Economy Valeria Bednarik Wayne McDonellFXstreet.com Weblogs
Links
Advertisement