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Disclaimer: This is my personal Blog, reflecting my very own views on Forex , shares and commodity tradings. As such, all informations provided here are barely for information purposes only,. The author should not be held liable for any errors, incomplete information, delayed messages, or for any actions taken in reliance on information contained herein.This blog is new, being established on 06,May.2010. While I am executing trades, posting will be sent simultaneously. The date/Time indicated here is of US Pacific zone(++15 Hours for Singapore/KL/Beijing, Or ++7 hours GMT)

Sunday, October 17, 2010

AUD/USD--- to be capped near 1.0150 before plunging down ??

The Aussie rode the greenback’s weakness hard once again and the local dollar was inspired by a reading of consumer inflation expectations that appears to but the official 2-3% inflation range set by the RBA out of reach. The 3.8% reading of consumer price expectations from the Melbourne Institute for Social and Economic Research is unwelcome news for the central bank but for now having raised rates to 4.5% it can possibly be glossed over while the Federal Reserve determines how to stimulate the world’s largest economy.

. The ascent marks an eighth straight week of gains for the currency against the dollar but with the unit today trading at around 0.9995 . Nevertheless enthusiasm for the local dollar remains strong heading into the weekend. The Aussie remains underpinned by recent events in which a decline in the value of the greenback set against the background of advances in Asian demand has boosted the price the country achieves for its mineral and commodity exports. The tone remains buoyant with expectations of an imminent assault on the $1.00 mark. Lifting the Aud/usd currency pair beyond 1.0150 cannot be discarded near term.



Daily Chart AUD/USD

Aud/Usd H4 Chart

The AUD/USD currency pair is rather bullish near term, 

On the Daily Chart with trend line, the upper trend line(in red) and wave marked "5" may be crossed near 1.0150  maximum, prior to its  Bearish reversal 

On the H4 Chart, hitting below 0.9730 , being the Ichimoku Cloud Bottom Support ( also near the 23,6 %  Fibo Retr) will confirm its bearish reversal., with first Target being 0.9691 (0.00 % Fibo Retr) , follows by 0.9539(its recent low)

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