Aussie & Cable Upside

by Ashraf Laidi
Mar 13, 2009 13:38 | 4 Comments

Aussie & Cable Upside - AUDUSD And Cable Mar 13 (Chart 1)

AUDUSD & Cable set up for prolonged gains as US stock futures push to the upside. Smaller than expected US trade deficit at $36 billion to help sentiment as it means, hence a positive for no-USD currencies. Although daily stochastics in AUDUSD show sign of a peak, the fact that TL resistance was broken and that weekly stochastics remain positive suggests upside to breach the next targets at 0.6630s and 0.6720, which could be interrupted by an interim correction towards 0.6460s. Cable shows better technicals after having breached the $1.3970s, now facing two targets at $1.4120, followed by $1.4320.

 

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Comments (Showing latest 4 of 4) View All Comments
Ashraf Laidi
London, UK
Posts: 0
14 years ago
Mar 14, 2009 20:07
Nomis, one cannot just cluster all commodity currencies together. Have a look at a chart of AUDCAD and you will get your answer. My article 2 weeks ago about the Loonie fully explains why AUD is better than CAD.

Ashraf
nomis
United States
Posts: 3
14 years ago
Mar 14, 2009 15:36
if Aussie looks good why not the loonie?
Ashraf Laidi
London, UK
Posts: 0
14 years ago
Mar 14, 2009 12:49
Adelish, $1.3650 proved it could hold. If USD remains on downside, we could see $1.44, but as I said in yesterday's article on 2-month cycles, buying GBP is NOT the best way to sell USD after $1.445. You're better off with going long AUD, NOK and even NZD.

Ashraf
adelish
irbid, Jordan
Posts: 6
14 years ago
Mar 13, 2009 20:54
thanks indeed ,do you reckon that gbp/usd will reach first 150 or 130 first within the next two weeks ?thanks in advance ...remember my question about (gbp/usd)when i devoured your past hot chart i got that point from your chart as a good point for buy for the gbp..136.50...it was a good point ...by the way i usually take your target as a good point for sell if you say buy ...thanks in advance ..any hints ..plz