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Short Term Sell Signals Getting Closer on the Aussie and Cable

Posted by WorldWideMarkets . on Sep 27, 2013 3:41:00 AM

Two potential short term sell signals to note. The Australian dollar and the British pound could be set to fall against the dollar using the moving average convergence divergence indicator.

The Australian dollar 12-day and 26-day MACD at 0.0081 is close to falling below the nine-day signal line at 0.0074. The aussie gained 3.4 percent against the dollar since that MACD moved above the signal line, a buy,  on September 3.

The signal on cable is a little further away with the 12-day and 26-day MACD at 0.0140 and the nine-day signal line at 0.0129 but both lines move closer on a daily basis. Sterling gained 2.1 percent against the dollar since that MACD moved to a buy on September 9. pound trading


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