Three months ago we wrote about the fact that the Aussie dollar had broken through a key technical level in an article entitled Is the Aussie Dollar Ready to Take a Big Hop? . Today as we write the currency from down under is making a seventeen-year high at $0.8476. The 1990 high was at $0.8405 and the next big target will be the 1989 high at $0.8905.

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Tuesday, May 29, 2007

FX Strategies : Canadian Dollar to Still Prevail over Aussie / Currencies / Forex Trading

By: Ashraf_Laidi

Today's decision from China to raise the stamp tax on securities trading to 0.3% from 0.1% is a more direct attempt to cool its runaway stock market than last week's hike in reserve requirements and interest rates. The news was announced in early afternoon NY trade, causing a retreat in US stocks and the higher yielding pairs of EURJPY, GBPJPY, NZDJPY, NZDUSD and USDJPY. The explanation is that such increased transaction costs on equities would raise the likelihood of the much awaited "China correction", thereby triggering a repeat of the domino effect in global equities seen in late February-early March.

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Wednesday, January 24, 2007

Turmoil in the currency markets as US builds up crude oil stocks - foretell Iran strike ? / Currencies / Forex Trading

By: Ashraf_Laidi

Light sweet crude is down 20 cents at $54.80 per barrel, after Tuesday's $2.48 jump to $55.04 on reports that the US Dept of Energy will purchase 100K barrels of oil per day starting next spring. While the decision is part of the Bush Administration's latest commitment to reduce US dependency on imported oil, the aggressive approach on beefing up SPR may reflect heightened possibility of a US military strike against Iran as early as March or April, at a time when US navy ships are piling up in the Persian Gulf. Yesterday, markets were filled with chatter of a Kuwait-based newspaper article reporting that the US will launch a military strike on Iran before April 2007, citing "reliable sources".

According to the article, the strikes will be launched from US ships with Patriot missiles guarding all oil-producing countries in the region. The attacks would be planned in April, the last month of British PM Blair in office. The immediate result of such an attack is a protracted run up in oil prices, which could reach the $70 per barrel mark in less than a week.

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Thursday, January 01, 1970

Forex Trading Perspective, Trends & Finding New Opportunities / Currencies / Forex Trading

By: EWI

Jim Martens shares key insights into trading currencies with the Wave Principle

In this brand-new video interview, EWI Senior Currency Strategist Jim Martens shows you his approach to the forex markets -- and how the "simplicity" of Elliott wave analysis has guided him through 23 years of forecasting.

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