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.

Thursday, April 28, 2011

Aussie dollar reaches minimum target of $1.08

I am keeping an eye on the Aussie dollar because I believe it has relevance for stocks. It reached the minimum projected target of $1.08 in very quick time. On an Elliott Wave projection, it would be quite normal for the move from March low (wave 5) to continue on to at least $1.15. This should be positive for our stock market although I admit I am starting to wonder and there are plenty of commentators out there who have the contrary view - that a strong dollar is negative for the stock market.
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