Forex Market Report: 17th August 2010
The information contained in this report is predominantly a technical analysis of global markets and is for educational purposes only. It is not specific investment or trading advice, and should not be interpreted as such. By continuing to read this article you agree to the full terms and conditions found in our Terms of Use.
Summary:
In the latest Forex Market Report we shine the spotlight on the Aussie Dollar and what appears to be an almost completed descending broadening formation. Macro economic factors are fully supportive of the technical pattern that we are seeing, which is something that I always like to see. The medium term technial picture couldn’t be more bullish. If we see a breakout and test of the .94 level it looks like we will be off to price targets of around .9681 then onto a target of $1.03 against the US Dollar.
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