Aussie – The Artistic Currency

October 19, 2013 in Chart Alert

Many currencies have nick names which are commonly known. My personal nick name which I use privately for the Australian dollar is “The Artistic Currency”.

Artists are supposed to be a bit more sentimental and emotional and yes, our Aussie reacts very fast to even a slight change is the sentiments about the global economy. But the story does not end here. I am not sure if you have noticed or not but please do it when you find some time. The price action of Aussie pairs are generally very artistic too. Many times you will find the price action following perfect geometric shapes. At least the geometric patterns I see the Australian dollar currency pairs to follow are more engaging then most of the other currency pairs.

Aussie – The Artistic Currency

AUD - The Artistic Currency

Aussie – The Half Moon

AUD/USD

Well, the first chart was an old chart and I do have a collection of engaging patterns of Aussie. The second half moon chart is the recent or I can say current daily chart.

Will the half moon formation complete?

What to expect with the recent strong jump? Well, I would expect that AUD/USD will not only complete the 50% retracement of the downward move from 1.0582 to 0.8848 which is at 0.9715 but it should try to test the resistance zone of 0.9791 to 0.9842.

Aussie – The Technician

AUD/USD retracement

Well, let’s wait and see if the artist becomes a technician also to finish drawing the half moon by following the price action analysis technically.

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