The Aussie that is.


Depends on whether you are forward covering/hedging imports or exports, planning your overseas jaunt or already hold US dollars or one of many other reasons

The chart first:


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The daily suggests a possible retreat having had a great run from 74 cents. Traders feel this way after a good run - disbelief that they can take more profits

The greyed wave ‘3’ is not yet complete I note. I constantly remind myself when I see this, that wave three is not yet complete. And that there are three wave threes - as there are for other waves - so the Aussie could continue higher.

To the weekly:

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This also says that there could be a decent retreat to 75 cents - but that could be months away.

As the bigger picture is a long trend to 85 cents and this could ensue over the next two years.

My bet is that it will head higher before we will see a retreat back to 75 cents.

Always good to have a look at an even bigger picture:

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And yes the soothsayer is right. But I think we will see a fair bit of movement up and down before 2020.

Always interesting. I follow both us dollar and the euro as both offer great plays for short medium and long term moves.


Enjoy the ride

Tom Scollon