These wedge patterns seem to be quite reliable - i.e. typically they'll consistantly retrace 50% or more of the wedges height. Back to 1.0575 I imagine.
I'm inclined to agree. Some of the daily charts look quite bearish. Personally I don't mind either way though, as I now trade trend/countertrend - life is easier that way :)
Good morning buddy ............aussie is due a royal shafting over the next 2 weeks unless the hope of QE 3 is revived and made reality very quickly. The reason being all commods ...silver, copper, oil, gold are very weak technically. Euro is very bearish and the US dollar index is looking like a big short squeeze is on the way
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Hey WS. How's life?
I'm inclined to agree. Some of the daily charts look quite bearish. Personally I don't mind either way though, as I now trade trend/countertrend - life is easier that way :)
Good morning buddy ............aussie is due a royal shafting over the next 2 weeks unless the hope of QE 3 is revived and made reality very quickly. The reason being all commods ...silver, copper, oil, gold are very weak technically. Euro is very bearish and the US dollar index is looking like a big short squeeze is on the way