Interestingly, Jim Martens shows AUS-USD in a consolidation prior to coming upside, which would agree with the idea of short-term inflationary phase in markets. Later in 2013 I am not at all positive on asset markets, and his AUS-USD view seems to agree there too.
He goes on to cover some other interesting things like “at the tops and bottoms we’re contrarians”, exposing how silly the media are with “the dollar’s black eye” and “the end of the euro”. With respect to the euro “it’s time to be a contrarian again”. I am not just pitching here. This is a very worth while video. Check it out. Here’s the EWI copy…
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About the Publisher, Elliott Wave International
Founded in 1979 by Robert R. Prechter Jr., Elliott Wave International (EWI) is the world’s largest market forecasting firm. Its staff of full-time analysts provides 24-hour-a-day market analysis to institutional and private investors around the world.