Getting back into it ...

Heelllooo traders. I took a really long break (although it really wasn't break it was mainly work) from updating this blog. I plan to start getting active about it again for the new financial year.

Last couple of months have been quite interesting as usual as we see most US dollar pairs in a corrective pattern. The risk thermometer (SPX500) is looking to retest the March highs earlier in 2012. General market expectations point to bucket loads of monetary easing which will get asset prices back on the bull path.

For the return post, concentrating on AUD/USD and GOLD.

AUD/USD
- Reached the top of the triangle pattern formation
- Top of current channel up trend
- Looking for a short term reversal to the bottom of channel
- 10 day mva starting to flatten
- Watching for sell confirmation

GOLD

- Consolidation moves within triangle pattern

- Looking for patterns pointing towards a resumption of the downtrend

- Break of downward sloping trend line intersection with horizontal resistance at 1640, 1650 to confirm resumption of uptrend