Tuesday, 6 August 2013

Austraila Dollars short term strength after interest rate cut by 2.5%

Dear Friends,

The long term trend of Aussie Dollar has been weak. But with today's government announcement of an interest rate cut, we feel this might be one of the swing trade play we could employ.

For long term play, we have to be a bit careful as Aussie Dollar is a trending currency. I would like to see a trend change before I hold long term.

So to me, this is a short term play driven by fundamental interest rate cut. Today after bouncing off our CRS system supporting line (see chart), it has been bullish. Short term downtrend may have halted.

Rgds
Daniel
www.danielloh.com

STI is the Only Flower stuck in a pile of Cow Dung! - The only major index in Asia that is in the Green

Dear Friends, A few days ago, I issued a post on where I think is the accumulation area of STI - 3300-3350. Yesterday it dropped into thi...