If this is one of your favorite cross pairs why don't you start posting some of your trades? it could even be demo account trading as that is a learning experience. The reason I am asking is I have been watching the pair for a while and thought it might be the pair to trade for the overnite (asian) session. I am considering demo trading to see if it could be profitable using the same strategies I use for gbp/usd
What a crazy move down in 2 days. Nearly 800 pips in 2 days. I hear it is carry traders unwinding, but whatever the reason, I can't ignore the IR differential of positive 5.2% per annum for taking it long. So I'm in long 130k from an average price of 101.07. Open unrealized profit of ~$1400 at the moment. If history repeats itself, a big sell off like this has its peak recovery in 5 trading days. So I'm going to hold until Fri if it doesn't reverse and stop me out at break even. If I'm still holding over $1000 open profit by Friday, I'll be more than happy to take it over the weekend for another 2 days of interest. Price target 106.00 by next Monday
I agree with it going to 106 but not by Monday. I'm thing 107-108 in two weeks but it sure would be nice to see the 50% fibo from march to july @ 98.2. I'll be going long every time we go below 100. I will also be shorting the AUD/USD in the meantime TP @ .84 and .83 stops @well.... They are for daytraders!
We just reached some resistance at 100,37. 38,2 % Fibonacci-Retracement 95,50-107,72 move....if break-through look for 102,50...