Long term outlook very bleak for the once relatively strong AUD.
It's been a tough two years on the Australian currency. With a very wobbly gold price dictating the nerves and a phenomenally crucial period of USD relative strength the AUD is suffering without a doubt.
Using a simple fib based regression trend analysis along with a modified pitchfork that ties...
I found volume spike (selling climax) in the background. The very next bar was up bar in a high volume (reversal up-thrust). This must be that demand overcame supply and that there are more buyers then sellers. Later on , we saw a successful test of supply on low volume, which is the sign that smart money is interesting in upward price. Wyckoff called this...
