Forex: The Australian Dollar

We don't hear much about the Australian dollar lately mainly because it's been in a 3 year consolidation... If you look at this chart carefully you will notice a few interesting things.. First of all, the Aussie dollar had a huge rally from 2001 going into 2004.. For the past few years the Aussie dollar has done nothing causing people to stop watching this market.. but you know me, I watch everything.. To me this looks like one giant bull flag.. If thats the case the Australian Dollar could go much higher..What I really find interesting about this particular market is that if you look at the above chart, you will notice that the currency is making HIGHER lows.. This only happens for one reason.. buyers are becoming more aggressive.. For the past 7 months, the Aussie dollar has been making a series of higher lows which leads me to believe higher prices are likely..I'd like to see gold go higher here too since they both trend together but thats not really important to me.....I only care about what traders and investors are doing with their money.. If they are showing signs of buying within a consolidation, then thats what means the most to me and thats where I want to be... I would not be surprised if we saw a rather large upmove in the Aussie Dollar over the next few months..

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