I am not a financial adviser so you should not take any part of this blog as being financial advice. Observing and interpreting charts is a hobby and so is this blog. The information in this blog is just my opinion, it may not reflect reality. Stock market investing is risky - you can lose all, or potentially more than all of your money given certain market conditions. Not only can you lose a lot of money buying shares, you can also lose a lot of potential profits by selling shares at the wrong time. So please do not buy or sell shares because of information in this blog. Whether you buy or sell shares is your decision as is the decision when to buy and sell. Do not risk any money you cannot afford to lose. Do not risk any money if you do not fully know and understand what you are doing.

Monday, March 28, 2011

Dollar needs to clear $1.025

There is much resistance for the Aussie Dollar at around the current level ($1.02). If it can break through convincingly, then I think it has much further to run - I am going to stick my neck out and say $1.08 would be the minimum target. Why the focus on the AUD? Mainly because a rising dollar usually means stocks will also rise. At the moment the stockmarket is not clear on what it wants to do. The move by the dollar could be giving us a clue. That said, I will be taking my cue from the XAO Indicator, while it remains red, I will remain cautious. Here's the Dollar chart. Click the chart to enlarge.
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