pete002

pete002

Formation of a bear flag on AUDNZD Daily chart. IF this flag completes its measured move we could possibly see this pair at parity in the future. Notable lows - 1.02850 Jun 1997, 1.03573 Jan 2015, 1.04320 Dec 2005 IF further rate cuts by the RBA come to fruition we could possibly see this currency pair fall further, see above. NZ Finance minister Bill...

pete002

The dollar index has reached a key level and where it travels from here is tied to the forthcoming ECB QE decision. We have the current price snuggled up to an important support/resistance line which is in confluence with a 1.272 extension from the Jun 2010 - May 2011 swing down. Depending on the QE outcome we could define our dollar bias for the near future, if...

pete002

As of 20.12. a neat bearish classic ABCD pattern. C @ 0.618 AB, D @ 1.618 BC D also has confluence with 0.618 level (March 2009 hi - July 2011 lo ) Watch for further bearish pa to follow, suggested tgts 1.1270, 1.1150

pete002

A bullish pennant formed on Friday, if the pattern completes, look for the measured move into the 122.50 area. A slew of Japanese data releases for Monday with GDP number headlining for the Yen adds extra spice! Current dollar strength post NFP also lends weight.