Kathy Lien: "Very good possibility we could see co-ordinated intervention this coming week"

Source: ABC (Australian Broadcasting Network)
Date: August 09, 2011 09:50:00 (AST)
by: Kathy Lien interviewed by Ticky Fullterton



Hint: Click CC button for English subtitles
Kathy Lien's interview with ABC (Australian Broadcasting Network) concerning the recent Standard and Poor's downgrade of the U.S. and its affect on currencies, including the Australian dollar. Of note is that Kathy thinks there is a strong possibility of some sort of coordinated intervention this week by the G-7 or otherwise, as well as the likelihood of future SNB (Swiss National Bank) and BOJ (Bank of Japan) intervention to weaken their respective currencies, as happened last week. Also watch the Fed language closely tomorrow during the FOMC meeting at 2:15 EST.

Weekly AUD/USD Elliot Wave Counts

Can Aussie hit parity this time?  If white wave (5) is extended it might, otherwise if it ends with turquoise wave 5 that is where there will be a major sell-off.

My strategy is to buy pullbacks until target around .9550 - .9600 is hit, otherwise just wait for those areas.
See related article here.
If you have any insights or suggestions please leave a comment.

AUD/USD Time Symmetry Shows Rally Can Last Until 9/24/2010

AUD/USD appears to be in the last leg (fifth wave) of an Elliot Wave method trading pattern or also the third drive of a Scott Carney Harmonic Trader pattern.  I believe most of the experts would agree both of these systems are mutually inclusive rather than exclusive and hope I have not butchered their stuff here.  What struck me as fitting the model perfectly is that the rallies from AB and CD both last 27 days, perfect time symmetry.  Projecting forwards the patterns should ideally complete on 9/24/2010 having rallied for at least 777 pips from the low point of 4 (assuming that this final wave can go up at least the height of AB).  This leaves 10 more rally days for the Aussie and minimum target of .9550 (or so).

If I screwed up bad please leave a comment :)

AUD/USD Gaps Up 37 Pips in Early Sunday Trading

The initial 37 pip AUD/USD gap up on the open of Sunday forex trading today seems to be in line with bullish Chinese economic data. Some traders are wary though of a possible rate hike to curb inflation. It remains to be seen how policy makers will react, e.g. if they consider the 3.5% CPI (inflation rate) in August to be somewhat of a one-time outlier due to food inflation caused by floods/crop destruction or if they foresee a greater inflationary trend.