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:
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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