Dollar continues to hit record highs!!!

Posted by Chris Kimble on 04/21/2011 at 12:22 pm; This entry is filed under Australian Dollar.

Almost a month ago I highlighted that the Australian Dollar was breaking out of a multi-month sideways trading range.  You know my boring ole strategy by now ..."Buy the breakouts!" (see post here)  Below is a look back over the past month, comparing the Australian Dollar ETF (FXA) to the S&P 500.

CLICK ON CHART TO ENLARGE

Since the suggestion to buy FXA, it has been a good 30-days.  This gain reflects the the "Power of the Pattern" per a breakout of a 5-month sideways channel!  This strong of a gain could very well be suggesting the U.S. $ will continue to struggle!

Game Plan...Remain an owner of FXA with a 3% stop.

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