FOMC Minutes Released - Fed Cuts Growth Targets - Worries About Inflation
What’s a Central Bank to do? Depending on who you read and listen to - there is either reason for concern - or “the worst is over”. The messages being telegraphed from the likes of Trichet and Bernanke as well as the BOE and even the Australian and New Zealand banks all are extremely concerned about inflation - and slower growth.
Going Up - Down Under — Aussie vs. US Dollar
Ascending Trend Channel
The 2 hour chart (above) shows the AUD-USD gaining continued strength with a well formed ascending channel.
60 Minute Stair Step Pattern
The same AUD-USD pair but the 60 minutes chart (above) shows a really nice “Stair Step” pattern. Of course, the question is - which step is next?
Jerry Furst is an active trader, educator, and Founder of Investors Education Network (IEN),He is available as a Mentor and Trading Coach to Select Clients Click Here for a Free Survey and 15 or 30 Minute Consultation.
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