Froddy
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Yes, that's not good news for the currency but, then again, bad news is good news as we know!Can’t be Aud$ +ve.
China cites Australia’s ‘cold war mindset’ as economic dialogue suspended
China’s National Development and Reform Commission said on Thursday that all activities under the China-Australia Strategic Economic Dialogue had been ‘indefinitely suspended’.www.scmp.com
Price has been bouncing up and down a downward trending channel since 29th April (1 hour chart below), and there are so many other patterns forming that it's pretty mind-boggling trying to work out where this is going.
It will be interesting to see whether the 74% historical probability of a downside move next week plays out, or whether this year will be one of the 26 percenters. I've accepted the risk, and am appropriately position sized.
Will this channel hold, or will it break soon (in either direction)? Who knows!
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