Look back over the past, with its changing empires that rose and fell, and you can foresee the future too.

— Marcus Aurelius


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Tuesday, February 28, 2012

Aussie dollar vs USD

Looking at the AUDUSD which has been the RISK ON RISK OFF indicator for a good while now..

It looks like it is in the process of forming a BULL FLAG and very near resistance between 1.07 and 1.08.  If it breaks out expect a test of the highs at 1.11, which should also coincide with an upside break out for equity indices especially US ones, which could be the EXHAUSTION RALLY before a sizeable correction (or dare I say it the TOP?)

As I speak S&P 500 looks to have broken the high at 1370 (cash 1373) and may encourage short covering and momentum players in the market (GOOD TIMING ..NOT!)

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