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It was a terrible week with an Aussie winner turned into a flat, then I re-entered lower and yet it kept going down, then I closed at loss and it went up.

AUS/USD

I was wondering what happened to Gold-Aussie Correlation, here it is:
(click to enlarge) source www.forexticket.es

 

 It seems the only relevant positive correlationship here is in the weekly charts, also, I got the daily chart comparison from WSJ:

 

It seems I can forget of Aussie/Gold correlation for now, there's no way Australian fundamentals could make AUD reach that levels, but I still think it can remain above parity unless there's more risk aversion to come.

In the dailys I see mixed signals, bearish HAS, MACD cross at the bottom, and %50 is out of what I call a strong bearish trend, and the pair is also playing with the 200 SMA, so there's not trade for now, only if I get a bullish HAS I would enter, but I'm not very eager to trade because trends are not that pretty right now, gotta pay a lot of attention to Indexes as any selloff is likely to affect high yielding currencies.

 

EUR/USD

The Ugliest Triangle I've ever seen in my life is still alive, the Euro is still with no clear direccion but there's a technical deadline, but these technicals are funny because it reflects the current madness that we were experiencing.

 

ATR reached highest levels since 20 May 2010
MACD shows no clear direction
ADX shows no trend strenght at all

The only thing that is interesting is that %50 is behaving like an ascending triangle, EUR/USD is still trying to broke downtrend line and round level 1.45. 

Yes, all of this stuff is cool, but as long as theres no trend I can't do anything, I'm not range trader.

Now fundamentally speaking, probably we can have another risk selloff ahead of 'Jackson Hole Symposium', good to know that I still have much to learn, first time in my life I hear about it.

Other important releases (source actionforex)

-Tuesday: Eurozone Flash PMIs, German ZEW; Canada retail sales; US new home sales; New Zealand trade balance
-Wednesday: German Ifo; US durable goods; New Zealand retail sales
-Thursday: German Gfk consumer sentiment; Swiss ZEW; US jobless claims
-Friday: Japan CPI; UK GDP revision; Swiss KOF; US GDP revision