Interesting times. The $USD looks bullish and it broke 80 which is bullish and as its broken the bottom line of the big head and shouders and closed above at 80.36. We could see a rally here as they will buy it for safety with the South Korea issue.
Looking at the AUD also has a head and shoulders and closed below the neckline so Its looking bearish aswell. So I've reconsidered my trade idea and I'm not going long until I get a signal the otherway. I think shares are bearish with this break in patterns so the top could be in place.
However should there be some resolution to the South Korea issue I think it would turn bullish quickly. So looking at some small short term shorts at the moment.
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Last
8,603.0 |
Change
7.200(0.08%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 8,595.8 | 8,616.8 | 8,589.5 |
| XJO (ASX) Chart |