Although I am no big fan of trading channels or any chart patterns for that matter, the task tends to be a bit too ambiguous. However, there may be a tradable channel present at the AUD/USD pair. When I look at gold, I see the possibility that the Aussie Dollar is correlated (apparently) from a recent 1 hour bullish channel breakout with Gold, simultaneously, AUD/USD offers a 1 hour bullish change of trend. Coincidence? maybe not. I have projected a short term week U.S. Dollar which may help this pair go bullish short term. Look for price to develop a 1 hour higher low swing. There is a ton of resistance, however, we are counting of the correlation between Gold and the Aussie dollar to float this pair bullish for the duration of the U.S. Dollar projected weakness.

GOLD

AUSSIE-CHANNEL

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Laurence Andre Williams

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