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Aussie Gets a Sell Signal on MACD, Cable Not Quite There

Posted by WorldWideMarkets . on Oct 1, 2013 3:04:00 AM
The short term sell signal was confirmed on the aussie in trading last Friday with the 12-day and 26-day moving average convergence divergence line crossing below the nine-day signal line. The 12-day and 26-day MACD now at 0.0072 with the nine-day signal line at 0.0074. The aussie gained 2.8 percent against the dollar since that MACD moved above the signal line, a buy, on September 3 through to September 27.
Still waiting for the sell signal on cable with the 12-day and 26-day MACD now at 0.0148 and the nine-day signal line at 0.0136. Sterling has gained 2.9 percent against the dollar since that MACD moved to a buy on September 9. But on a fundamental basis sterling is looking quite good so we could be aways from the sell signal. The next BOE policy meeting is October 10 and so far the data from Britain has been good, with a pick-up in housing  and private credit. It may well be that BOE governors get more hawkish in the coming days. Watch for speeches from Mark Carney, Paul Tucker, and Paul Fisher with Carney still being the most important. trading aussie

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