Tis interesting that the USD is still Quite strong today, again suggesting that we have more downside available on the indices if the inverse correlation between this currency and the US indices continues.
I am still waiting for the Weekly MACD moving averates to cross over on our local SPI and they are being somewhat resilient in this regard.
Something else I am noting which I haven't seen for a while to the downside, and that is that short term bullish patterns on the spi and AUDUSD are constantly failing, in similar fashion to the manner in which bearish patterns have been constantly failing on the run up.
I am short focused on my index trades and this has been working in my favour over the last 24 hrs.
;)
lowbrow friday, page-2
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Last
7,816.8 |
Change
-12.900(0.16%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 7,829.7 | 7,829.7 | 7,782.0 |
| XJO (ASX) Chart |