Remember the LORD for it is he who gives you the ability to produce wealth and so confirms his covenant... Deut. 8:18

Friday, April 27, 2012

AUD & Gold breakout

AUD/USD chart D1.
AUD broke out from a descending channel. 
Looks like it's forming an ascending channel.
Set to test 1.048 and 1.052
AUD/USD chart H4.
Aud touched 1.044
But hold your horses, Aud may dive if RBA meets on Tuesday 1st May (Malaysian time 12.30pm) to cut its cash/interest rate.

Gold similarly broke out from a descending channel on Friday slower-than-expected US growth data and as traders expected another round of QE.
Gold will likely test 1670 and 1680 levels ..

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