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Posts by "callum"
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Posts by Anonymous "callum":
Great video !
This could just be a simple US dollar correlation now vs. any sophisticated correlations given that even GBPUSD is climbing up despite lower than expected UK Construction PMI data and overall below 50.
If you are worried about your existing shorts on AUDNZD, give it some patience. Ashraf has more details on rationale for short. I remind myself by looking at the monthly chart and notice that AUDNZD so far hasn't broken 1.30 psychological level or July 08 high around 1.2965. It could be a grind for AUDNZD to get to another 30 pips from 1.2935 at the time of writing. Wait for Gold to drop or even EURO, and AUD will come down with it.
Even if it does break 130 and holds today, it will be on tomorrow's newspaper in Australia, and it will be a story everyone will talk about, and could open up room for more buyers? That makes it even better time to position shorts. It hasn't happened yet, so let's see.
Callum
Will it aim for around 0.9165 region, which happens to coincide with 1) upper bollinger band on the weekly chart plus 2) 23.6% on f-retracement between June 09 low and Oct 09, 3) plus the Nov 09 high. Does it have legs to breach this? If it does, would it aim for the Oct 09 high?