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Parameters in Equities, Oil
The 100-week moving averages in the S&P500 and US crude oil will act as the next resistance for risk appetite and USD-selling.
if next week oil break down 75[as u mentioned in imt] then where would be next stop?
thanks
regards
hmmalik
Rob, Did you say Aussie was oversold? we could see a break below the 0.8960 low after Asian selling in Monday but markets may take it easy ahead of what is expected to be a 25-bp hike, which instead of triggering a sharp rally in Aussie, i think would prevent it from falling as hars as other risk currencies next week when Fed spooks markets at FOMC. However, one thing you can do is to wait for the RBA announcement and look for possibility of selling Aussie after the knee jerk jump in the Aussie following the hike. if they dont hike, will fall like a stone. worse than what NZD did last week. cannot giove levels now cuz i dont know where Aussie will be before RBA. 0.86 is major support. i doubt we go below it.
Ashraf
What effect do you think the impact of a rate hike in AUD will have on AUD/USD? Considering it is expected, do you feel this pair has room to go higher?
Everything seems oversold at this point.
Do you have a forecast for AUD/USD? Thanks and have a great weekend!
Thanks
you should go short now if you believe this strongly.
good luck
however, very well marketed by prechter. I bet as is the case most times - he makes more money marketing the theories rather than trading them.
if I were following prechter - I would be short equities - he has been calling for a huge tumble from mid august (s&p 950) to go down all the way to 400