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The charts, graphs and comments in my Trading Blog represent my technical analysis and observations of a variety of world markets...
* Major World Market Indices * Futures Markets * U.S. Sectors and ETFs * Commodities * U.S. Bonds * Forex

DISCLAIMER: All the information contained within my posts are my opinions only and none of it may be construed as financial or trading advice...
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Dots

...If the dots don't connect, gather more dots until they do...

TGIF

TGIF

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Tuesday, December 13, 2011

More bad news from "Down Under"...

Further to my post on December 11th (http://strawberryblondesmarketsummary.blogspot.com/2011/12/home-loans-and-trade-balance-lower-down.html), data released tonight shows a big drop in Consumer Sentiment in Australia, as shown on the graph below (provided courtesy of www.forexfactory.com). This latest release shows it tied with the low registered in July this year...both months are the lowest reading since the October 2008 low...not a good reading for consumer spending, which accounts for a majority of overall economic activity.


At the moment, the AUD/USD forex pair is trading lower and has fallen below the 1.00 parity level, as shown on the 4-hour chart below. The next support level is 0.99, followed by 0.97.