AUSSIE is really in new territory at the moment. Still not safe for re-entry. I would now wait till after Easter to find some support for a long re-entry. Possibly around 1.0600 could be a nice support, but let price action be your guide.
Happy trading.
Wednesday, 20 April 2011
Thursday, 7 April 2011
Break out trade post Euro rate increase
Good morning traders. Well as we can all see it looks like nothing is going to stop the Aussie. As a result no short positions are recommended, even for small scalps. Currently as spoke of before I am still running my little trend scalping bot on this pair, at least until it retraces to some good support. There we can then evaluate if a substantial long position can be taken.
With the predicted euro rate increase last night, there was a pretty good break out trade waiting in the Asian session for all to have. I picked up +50 pips on this trade.
Gbp might be worth looking at in the London session for another break out trade. Watch your price action.
With the predicted euro rate increase last night, there was a pretty good break out trade waiting in the Asian session for all to have. I picked up +50 pips on this trade.
Gbp might be worth looking at in the London session for another break out trade. Watch your price action.
Wednesday, 6 April 2011
1.0500 within sight
Another big jump with the aussie last night...wow.
We will stand aside now until we get a pullback to 1.0200, as long as price action is still bid, we will be looking to get long in that area.
We will stand aside now until we get a pullback to 1.0200, as long as price action is still bid, we will be looking to get long in that area.
Tuesday, 5 April 2011
RBA stays at 4.75%
As predicted the RBA stayed on 4.75% with no rate raises coming in the near future. From what I understand there will only be one more rate increase this year. Good news for all of us paying a mortgage in Australia.
As for my positions, I am still short from both 1.04 and 1.035...looking to hold both to 1.0200.
As for my positions, I am still short from both 1.04 and 1.035...looking to hold both to 1.0200.
Monday, 4 April 2011
wow....1.0500 here we come??
Can nothing stop this pair (AUDUSD)! She is making short work of the dollar. As stated previously I am now short with 2 positions. One at 1.0350 and one at 1.0400 with an average position of 1.0375....at the moment of this post I am in profit at about 20 pips.
I am hoping to hold this trade down to 1.0200, where I will then take profit for my shorts, and then look to get long again on the Aussie.
Watch out for the rate announcement tomorrow. My prediction is that rates will stay the same, or will be reduced by .25 percent. Lets wait and see.
Happy trading.
I am hoping to hold this trade down to 1.0200, where I will then take profit for my shorts, and then look to get long again on the Aussie.
Watch out for the rate announcement tomorrow. My prediction is that rates will stay the same, or will be reduced by .25 percent. Lets wait and see.
Happy trading.
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