Andrei Pehar, Sr. Currency Strategist, fxKnight.com
Known as the "Black Knight" in trading circles, Andrei is a private fund manager, consultant to management, and a sought-after speaker, trainer, and coach for professional traders and individual investors alike. He played in professional chess tournaments at a young age, earning a rating in the U.S. Chess Federation, and went on to further hone his strategic skills by studying Japanese martial arts, bringing with him a unique perspective to the financial markets.
His client list includes prestigious names such as UBS, Tower Asset Management (named by Bloomberg as top asset manager), Clifford Associates (investment counselors since 1915, officially acknowledged as the oldest in the United States), and several other high profile firms specializing in investment and wealth management for musical artists, sports celebrities, and other ultra high net worth individuals and trusts. He is currently working on a book which will, for the first time, introduce retail traders to institutional trading strategies and techniques.
Click Here to view videos by fxKnight
Known as the "Black Knight" in trading circles, Andrei is a private fund manager, consultant to management, and a sought-after speaker, trainer, and coach for professional traders and individual investors alike. He played in professional chess tournaments at a young age, earning a rating in the U.S. Chess Federation, and went on to further hone his strategic skills by studying Japanese martial arts, bringing with him a unique perspective to the financial markets.
His client list includes prestigious names such as UBS, Tower Asset Management (named by Bloomberg as top asset manager), Clifford Associates (investment counselors since 1915, officially acknowledged as the oldest in the United States), and several other high profile firms specializing in investment and wealth management for musical artists, sports celebrities, and other ultra high net worth individuals and trusts. He is currently working on a book which will, for the first time, introduce retail traders to institutional trading strategies and techniques.
Click Here to view videos by fxKnight
Has the Aussie Found Bottom?
Posted 10-22-2008 at 11:16 PM by fxKnight.com
Has the Aussie Found Bottom?
The AUD/USD pair has shed over 3500 pips in a dramatic sell-off which has lasted since July. Have we finally found a bottom?
Currently, the Aussie is ranging between the 161% Fibonacci level at 0.6537 and the 138% Fib level at 0.7019 - what happens next very much depends upon which side of this range price eventually chooses.
If we break above 0.7019 and successfully re-test that level as support, then we may eventually see price rise to 0.7801
If, on the other hand, 0.6537 fails to hold as support, and we successfully re-test that level from below as resistance, then we could well see price drop further -perhaps as far as 0.5755, or if that level breaks, then 0.4491
The AUD/USD pair has shed over 3500 pips in a dramatic sell-off which has lasted since July. Have we finally found a bottom?
Currently, the Aussie is ranging between the 161% Fibonacci level at 0.6537 and the 138% Fib level at 0.7019 - what happens next very much depends upon which side of this range price eventually chooses.
If we break above 0.7019 and successfully re-test that level as support, then we may eventually see price rise to 0.7801
If, on the other hand, 0.6537 fails to hold as support, and we successfully re-test that level from below as resistance, then we could well see price drop further -perhaps as far as 0.5755, or if that level breaks, then 0.4491
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Recent Blog Entries by fxKnight.com
- Crude Oil: A Key Level to Watch (11-20-2008)
- Has the Aussie Found Bottom? (10-22-2008)
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- Next Levels to Watch for the EUR/USD (10-09-2008)
- US Senate Passes Bailout Bill − Markets Unimpressed (10-02-2008)
