AUD/USD: Some technical analysts getting all ‘bulled up’
No, I did not forget a few letters from the middle of ‘bulled’!
Yesterday it was cable where the big calls were being made and today I see where a technical analyst is looking for 1.1150 in AUD/USD in the next few weeks. I must be missing something as I cannot see any justification for such a call just yet. If the weekly wedge were to break, then I could understand such a call but as long as it’s in place I think that all big calls on the Aussie are premature.
If wish-full thinking got me to my targets I’d be rich now!!!
The environment is just not conducive for such a rise. I can understand if china was growing at 9% but thats not happening.may be they give these calls to cover their positions.
may be the regulators should closely monitor the calls which these guys give and the disclosures.
He’s a professional analyst getting some airtime on Reuters so I don’t think he’s got any agenda apart from getting headlines I guess
Sean,
what do you have to say on this recenet spike to 1.0469 on aud/usd or just order book filling by the brokers.
Normal market noise imho as shorts get bit nervous ahead of w/e. If it breaks above 10520 then I’d say somethg more serious going on but until then I’d say still play range