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Archive for May, 2006

Australian Dollar Shows Little Resolve

AUD/CAD – AUD/CAD continues to plummet as the pair trades along the Bollinger band on the daily.  After a 5 wave decline from .9855 to .8257, the probable scenario is a corrective 3 wave sequence with the decline from .8606 as the second wave.  Scope remains for more weakness to the 78.6% fibo of .8206-.8606 [...]