Update - July 02 2011
Closed EUR/AUD, EUR/CAD, and EUR/NZD trades. Given the rate hike of last April/May, we may see the reversal of the long-term downtrend. At least if not a reversal, we may see the down-trend change to consolidation.
The GBP/AUD, GBP/CAD, and the GBP/NZD, though generally all now in the oversold region of the monthly charts, still appear to be headed down. The bearish BOE mode may continue for another few months as the UK's economic problems continue. Moreover, the Chinese and Indians continue to buy anything the Aussies and Kiwis can produce.
Good trading people.
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