The Last Time This Happened
a Majority of Assets Slipped to Lower Prices

By Chris Kimble of Kimble Charting Solutions
June 11, 2013

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The Australian Dollar is often looked at as the "Risk On/Risk Off" currency. Back in 2008 the AU$ formed a bearish rising wedge which suggests a two-thirds chance of lower prices. Once the breakdown took place risk assets around the world tanked (stock & commodities)!

I shared with Premium Members last Thursday that the AU$ was breaking support as EEM was breaking down from its pennant pattern. Premium Members established a Short Emerging markets position in EEV last Thursday.

The last time AU$ broke support, investors had few place to hide (not stocks or commodities). Will it be different this time?

 

 



For information about Kimble Charting Solutions, send an email to services@kimblechartingsolutions.com.

 

 

 

 

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