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.

1 comment:

pythagoruz said...

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!!