Forex Trading Today

A Blog of Commentary and Ideas from an FXstreet Premium Member by Tim Salem (CVJ)

Or subscribe via email:

FXstreet.com Weblogs

Links

AUD/USD finds a Wave after all…but Will We Crash?

Posted on February 13, 2009 at 7:24 in Market Analysis by Tim Salem

Greetings again to All !

Asian Equities pick up the steam left from the U.S. Equities Markets of yesterday…. as well as some positive U.S. and EuroZone Data Points… and as suspected… the late Asian Session helps to define some directionality for our Surfing friend, the Aussie.

The G7 Meeting is in the air… with the last couple actually being ”paid attention to”… but we will surely see. Caution is advised, as always.

Here is our Hourly View again… and we will surely see if this Momentum can keep rolling… considering a Correction may be looming around the corner!

Give the Capture a click, and Post-Time this morning for me is 12:25 GMT.

Even with the Downside “Weight” we spoke of last Post… we still have the RBA Intervention Area of .6000 to “Peg” the Exchange Rate there… so in this sense… this Massive Support and Round Number-Area should provide us with a stable long-term Base.

Tags: appreciation, AUD/USD, Exchange Rate, Fibonacci, surfing, wave Australia

Comments are closed.

Theme by Forex Street Powered by Wordpress

The comments and posts published in this blog ARE NOT trading recommendations. They can NEVER be considered as trading calls or advices. If you decide to use the information offered here for your real trading it is at your own risk.

Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.

Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. FXstreet.com has not verified the accuracy or basis-in-fact of any claim or statement made by any independent author: errors and Omissions may occur.

Any opinions, news, research, analyses, prices or other information contained on this website, by FXstreet.com, its employees, partners or contributors, is provided as general market commentary and does not constitute investment advice. FXstreet.com will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.

The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer.