Other the other hand, as EU has asked Greece to submit a concrete budget-deficit-reduction plan within a month, probably there won't be any breaking news that send EURO fluctuating in near days. So let's change focus to another currency: AUD and GBP.
Getting back to Technical Analysis. We can see that AUD has just touched the upper line and is heading back downwards along the channel. The fibonacci line might give a little support but referring to the past two times, it looks like the horizontal line had quite little power.
More than the channel, another instrument gives us a very strong signal to short AUD. It is the slow stochastic. We can see that both K-line and D-line are roughly about 80. The most important thing is: the K-line has dropped through D-line in the area of above-80. This tells us that AUD is going down!
Other than AUD, let's see GBP. Though the signal is not as strong as AUD, looking at the down-trend channel, I predict that GBP will surge. So, for agressive investors, why not short AUD/GBP?
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