Thats a nice pattern for a weekly ("long term") time frame. The rising wedge is moderately bearish but something I've seen more often on smaller time scales, so I'm not sure how reliable the $78-$86 target range is. I guess you could call this an update to the last post I did on the Australian Dollar (FXA etf). Cheers mates.Monday, August 04, 2008
Aussi Dollar Rising Wedge Breakdown
Thats a nice pattern for a weekly ("long term") time frame. The rising wedge is moderately bearish but something I've seen more often on smaller time scales, so I'm not sure how reliable the $78-$86 target range is. I guess you could call this an update to the last post I did on the Australian Dollar (FXA etf). Cheers mates.
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There are almost always fundamental reasons to explain the technical analysis but they usually hit the headlines much later than the chart says sell, sell SELL!!
http://www.bloomberg.com/apps/news?pid=20601087&sid=ah452Mf0QvYk&refer=home
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