AUD USD
UP TREND
UP TREND
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- #1,227
- Jan 20, 2009 2:55am Jan 20, 2009 2:55am
- Joined Aug 2007 | Status: Fluid | 1,133 Posts
Trading = a mirror to your human flaws. Fix them or be fixed.
- #1,232
- Edited 6:17am Jan 20, 2009 3:55am | Edited 6:17am
- | Commercial User | Joined Jan 2008 | 68 Posts
As expected, we saw the three wave move of retrace at the end of the past week in blue wave ii, as we discussed in the previous USD/CHF post. So, in past few sessions we saw a move through this significant 1.1300 resistance area which was the key for move to current highs. In the last bullish channel we can already count a clear five wave move in red iii), which means the pullbacks in wave iv) could be the case.
But patiently; we have some mixed dollar signals at the moment; the Oil is still trading lower which is pulling the euro down and the swissy higher. Meantime the equities and gold are going higher which is dollar negative. So, for a better dollar picture we should take a look on the $ Index chart where we are seeing 30 pips range at 15 minute chart. So, we will se reaction on the Usd/Chf chart when the dollar index will move. Break higher on $ Index will make higher Usd/Chf; move lower on $ Index could be the key for red wave iv) retrace on our Usd/Chf chart which is attached bellow.
Take care.
Grega H.
But patiently; we have some mixed dollar signals at the moment; the Oil is still trading lower which is pulling the euro down and the swissy higher. Meantime the equities and gold are going higher which is dollar negative. So, for a better dollar picture we should take a look on the $ Index chart where we are seeing 30 pips range at 15 minute chart. So, we will se reaction on the Usd/Chf chart when the dollar index will move. Break higher on $ Index will make higher Usd/Chf; move lower on $ Index could be the key for red wave iv) retrace on our Usd/Chf chart which is attached bellow.
Take care.
Grega H.
- #1,233
- Jan 20, 2009 9:25pm Jan 20, 2009 9:25pm
- Joined Mar 2006 | Status: Trade the reaction not the news! | 10,359 Posts
BKX US Banking index sliced through upper fib support and now at a make or break point on lower fibs. Will it hold?? If it don't kiss your butt goodbye. 
