If the Aussie Bottoms, so do Commodities...
I have been lurking and hunting for the commodity bottom for the past 3 years. Every single small rally has been sold and we truly are in uncharted waters regarding how pressed down the commodity market has been recently. Commodities are one of the largest impacts to the Australian economy seeing as it has an abundance of natural resources on the continent. Therefore the Aussie dollar wants to see commodity prices increase. Check out how oversold the commodity market is...
And then look what happened after each of these signals. I am not sure if the time is now, seeing as I have been watching this for a few years now. HOWEVER, with the recent Aussie dollar flash crash to multi month lows and the Hammer head reversal it is putting in, I believe that the Aussie dollar may have just made a generational low.
Check that hammer out. I have not called "too many" generational lows in my time blogging beside the Euro at 1.04 and Emerging Markets recently in the 38ish area. But this one looks like it could be it. I am watching this like a hawk.
If I am right about my dollar crash (and end of the global reserve as we know it) I expect the commodities, aussie, euro, other currencies, crypto, etc. to all explode higher...and the Aussie is setting up.
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Same re:commodity lows, sadly I hold a few duffers from years back. Interesting to relate them to the Ozzie dollar, I think you are onto something there. Can we please have a turnaround about now please?!
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