Tech & Biz

Australian Dollar Exchange Rate Falls

by Damian George | January 14, 2009 at 08:34 am

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Foreign Exchange - Australian Dollar Currency Update

Yesterday it was obvious on the hourly charts that some currencies had fallen too far, too fast and in too straight a line to keep going without a pause or corrective bounce. The Australian Dollar was the most glaring case, with the euro looking overdone, too. See the Australian Dollar chart. For foreign exchange trading purposes, when we see a corrective bounce coming, we guess a level where it would be safe to go short again. This time it was the previous intraday high of the previous day, or 1.3331. This time the correction went 7 points over that. Having succeeded in the guess one time doesn’t make it a good rule for every situation.

Bye For Now
Barbara Rockefeller
Foreign Exchange Trading
Forex Trading Reports

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flagged this story as Needs Improvement

at 09:24 on January 14th, 2009

Damian George, this is the third time and third post I ask you to please remove you add links and Hyper links. I think your story has potential but needs some improvement. I've got a few suggestions, and if you give them a try, I'd be happy to remove this flag. I wasnt sure what was newsworthy in this story. News should always be about posting current stuff - new things you've discovered. Please review What Makes News News. It can really help ify ou follow the old "W5" news formula -- making sure you have answered the questions: Who? What? Where? When? And Why? (You might want to check out our J-Tips for more help.)