http://www.fxstreet.com/news/forex-news/article.aspx?storyid=2f1cf3f1-37f0-4072-a3c8-d8ad140bc1e8
FXstreet.com (Barcelona) - The Australian Dollar has collapsed merciless
since early May, when it broke a 1-year long range through 1.0150, a
time when coincidentally, legendary billionaire Soros got well ahead of the herd to put on some heavy shorts.
However,
most of the trading community were surely more cautious to react to the
developing Aussie bearish trend, which saw the speculative community
increasing the interest to pile on the short trade, to the point where it is getting really crowded,
as recently reported by Greg McKenna, CEO at Global FX. That should be a
first warning signal as to how much room for downside there really is
as few are left to put on fresh shorts unless a major retracements
starts to occur.
Interestingly enough, 'the Australian Dollar
short' is starting to become a story widely covered by mainstream media,
with the latest examples being two reports on Monday by two of the big
ones such as the Financial Times and the Washington Journal, titled
"Pressure is on for Aussie weakness", and "Australian Minister Seeks
Weaker Currency", respectively.
AUD will also give us a hint of where Miners will be heading as well..
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