AUDUSD Long Term Bearish.. Is 08000 the target? We (Joe Smth and I) called Aussie to short from 08828 .. now why the target is 08650 Australian central bank talking about easing so dunno.. inflation numbes out from down under giving Australia room to ease.. so unsure what to see here in Aussie for future.. they QE or rate hike.. I will take a long to 09200 to 09400 if Australia wants to dance that way with their currency.. then short it to 07900.. Daily getting some green.... 4 hr down to 30 min is all red.. still short on this.. bearish.. as China is in slowdown and US dollar heating back above 85.00 .. looking for 86.75 by mid November,... even if US Fed continue to talk their bologna about QE 4 or interest rate hike not till 2019. ( they called that stealth QE, when the US Feds gave their word to global central banks to maintain low interest rates until a given time) AUDUSD has to go under 08748 before 08715 door is there... then will crash to 08665 where will hit that wall down there.. see it come back to 08715 to 08738 .. see what occurs then... You got to go to December 2013 to see why AUDUSD could rally at 08665 ,,, but go back further.. to 31/07/2010 low of 087691 and you see why the downward draft on AUssie will remain as long as that remains high resistance.. is 0880 target on AUDUSD.. look at 31/05.2010.. well.. if Australian central bank does not ease their currency .. could be a target.. also we have the ECB continuing to give us mouth service of QE, which is untrue.. I do not see more QE being financed now by Germans as Merkel is getting more political pressure and even mentioning leaving the Euro.. it is getting that serious... If you do not remember... during German unification.. Germany was forced to take the Euro by the French.. and now with France economy crashing and not fixing their own financial house.. I do not see the Germans staying in the Euro much longer.. Well, I like the bearish call on AUssie for now.. as long as their central bank remains on the sidelines and Euro does not get QE
Posted on: Wed, 22 Oct 2014 07:42:13 +0000
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