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.

Wednesday, March 16, 2011

Is Aussie dollar's run over - for now?

It certainly looks like it from the charts. The daily chart - the first one, shows a simple, neat Elliott Wave count which ends with a convincing break to the downside from an up-sloping wedge. The second chart is the weekly which shows the move from the 2008 lows. It looks even neater and ends right on the resistance level predicted by the software. Is a falling Aussie dollar bad news for Aussie shares? Usually it is. The good news is that a falling dollar probably means the market is expecting some rate cuts.














Posted by

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)