Pauly B

Why Today Makes This a Pivotal Week for the Markets

True, in the short term the Auzzie has shown weakness, but on the Weekly Ichimoku Cloud study it is still above a major resistance point on the cloud span @ 80.66, It is consolidating and long term target on a breakout is 85.23. It also appears to be forming a bullish wedge on the weekly. On the Monthly it is also above the cloud span with the span trending up and is posting a doji which is just showing it is stalling for now. Currently I have a long play on the AUD/USD in FX.

Why Today Makes This a Pivotal Week for the Markets

Your right, The commodity FX pairs such as the Auzzie have been rising for some time on the daily charts. For those not into charts just watch the prices in copper/ precious metals, food, and fuel. With low US GDP I dont see any change soon and the middle class and the dollar will get slammed even more.