Australian Dollar Decison Pending
When a global macro trend is working you pick the best trends to monitor it. The Aussie dollar has been leading the charge for the global risk on trade, can it stay off the rocks.
The Aussie dollar is at a cycle top, we have seen three price peaks highlighting distribution has been present. Price action always enters a break up or breaks down zone, the Aussie and the global risk on trend is at this stage now.
The world has seen the first act of 'save Europe', which was easy to achieve as only words were required. The second act will be a little hard as cash and EU member agreement is required (not withstanding a very important German court decision). The next few weeks should be very interesting indeed.
The Aussie dollar cycle, decision time approaches. The rule to is 'follow the trend until it bends'.
Also the site Marketanthropology.com does some interesting work with pattern fractals. At first its hard to see how one could trust this type of study, you will been to go back through the blog over the last couple of years to truly get a feel for his work. Its worth your time.
Here is the work on the Aussie dollar. Just posting as a point of interest.