This week I noticed that AUD/CHF is very similar to the Dow.
It would be easy to mix them up.
CAD/CHF has something of a similarity but not the same.
So AUD is tracking the Dow.
The Dow has plenty of room to go down short term and longer term.
EUR/AUD and EUR/CAD and the AUD CAD with CHF crosses have been good for the majority of a year.
There has to come a point when this will change, maybe totally reverse.
The view that there is a long term trend is fine to a point but the longer the trend has run the nearer it is to its end.
I think to presume these trends will continue comes from a wish rather than a hard fact.
I feel these trends have had their day.
I can't see positive data coming out on an economic front which is bound to hit commodity currencies.
It would be easy to mix them up.
CAD/CHF has something of a similarity but not the same.
So AUD is tracking the Dow.
The Dow has plenty of room to go down short term and longer term.
EUR/AUD and EUR/CAD and the AUD CAD with CHF crosses have been good for the majority of a year.
There has to come a point when this will change, maybe totally reverse.
The view that there is a long term trend is fine to a point but the longer the trend has run the nearer it is to its end.
I think to presume these trends will continue comes from a wish rather than a hard fact.
I feel these trends have had their day.
I can't see positive data coming out on an economic front which is bound to hit commodity currencies.