AUTOREFRESH 
Bundesbank board member sees no end in sight to dollar weakness
By Jamie Coleman || October 29, 2009 at 19:29 GMT
|| 4 comments || Add comment
It’s been a long time since the market has paid attention to Bundesbankers below the level of President Weber. Comments from Board member Sarrazin might get some notice as they go with the grain of the market at the moment and he has recently been in the news for other reason.
Sarrazin says he sees no end in sight to the rise of the euro against the dollar and that dollar weakness is needed to correct the US current account deficit, according to our friends at Market News.
Sarrazin was recently stripped of some of his duties at the Buba for impolitic remarks about immigrants in Germany.
Sarrazin
Not sure why everybody is suddenly so bullish on AUD.
Still have my AUD/JPY short. Looking at the AUD/USD it held the downward trendline on the hour and 4 hour chart.
In the IFR News: GBP/USD: Intraday Bull Flag Has Big Potential upside Implications
October 29th. From a chart pattern perspective, a look at the 30 minute timeframe is showing us what could be viewed as a bull flag. That”s basically a parallel down-sloping price channel following a sharp rally, which is what cable”s been doing since failing to hold its little pop above 1.6600. The implication of a bull flag is that we should expect to see and eventual upside break from the flag element into a trend continuation. The projection is generally equivalent to the height of the pole. Possible continuation after this move…
Thanks Adje, I’m following your lead and going short AUD/USD with s/l above .9325. I think the break below .90 was significant and I’m going to give the sell-rally strategy a go.
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