I wanted to update you on my thoughts around the AUD/USD. If you have been following by blog posts on the Aussie currency you know I have been shorting for a while now and posted that I believe the top was going to be around .9500 which was put in almost to the pip.
With Gold losing more ground today than I have seen it lose in a single day in a long time along with a drop in oil prices I beleive we are finally seeing the commodities correction that I have spoke about in the past. Since the Aussie is closely corolated to commodities we should begin to see a nice move down on the AUD/USD in the medium term.
Allready we have broken below the former lows of .9127 which could be seen as a break out of a 1, 2, 3, pattern. Additionally the NZD/USD as well as the USD/CAD will also find a run as they are also closely corrolated to Gold, Oil, etc.
Dustin is recognized as one of the top Forex traders and education authorities in the world today. As the President of Forex Traders Daily he has helped thousands of traders learn how to profitably trade the Forex market. Dustin's goal is to help you achieve your financial goals faster and easier than you ever imagined. You can follow him and Forex Traders Daily on: <a href="https://twitter.com/YourDlyAnalysis">Twitter</a>, <a href="https://www.facebook.com/ForexTradersDaily/">Facebook</a>, and <a href="https://www.youtube.com/user/forextradersdaily/featured">Youtube</a>.
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Author: Dustin Pass
Dustin is recognized as one of the top Forex traders and education authorities in the world today. As the President of Forex Traders Daily he has helped thousands of traders learn how to profitably trade the Forex market. Dustin's goal is to help you achieve your financial goals faster and easier than you ever imagined. You can follow him and Forex Traders Daily on: Twitter, Facebook, and Youtube.
