Chart Analysis: AUD/USD

Thursday, October 8, 2009















The performance in AUD/USD looks very strong, and while the AUD/USD has just crossed the .90 mark, the expanding triangle formation we are seeing is a classic bearish one - though we would certainly wait for a break of the lower bound of the formation for confirmation in Forex Charts.

1 comments:

Shawn Cannon October 9, 2009 at 10:21 AM  

I agree with an expected short here from AUD/USD. I was actually thinking it would turn bearish a few days ago, however I was waiting for it to make it's drop. Good thing I opted out of the market as it took off on a bullish run.

I'm just hoping it's my analysis that's seeing a stronger dollar and not just wishful thinking of an economic recovery.

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