update: AUD/USD has stopped twice now at my first target which I said initially is 1.0225. I have sold half and am still holding half... looking for 99. GBP- still holding if goes to 1.5810 I will cover. both trades have worked out good blackguard
I'm short the aud at 233. I think it still has a ways to go that GBP chops, have a limit in to buy at 5933 can't stay with anything too long these days, gotta take a profit when it is presented I'd do better just taking the profit and the other side as much as a bear I am on aud, the only profit I made this month was the brief time I was long
EUR/AUD flows effecting AUD/USD as well... euro has been cleaner, I've been trading EUR/JPY mostly as of late. some aussie data out in about 5 mins.
yeah, A guy on tv today was saying long EUR/AUD was the trade of the century. bout time for Jim Rogers to get short
AUD needs to go down and they know it. EUR needs to go down and they don't have a clue. Doesn't really matter. 90% of all forex trade is just small speculators like you and me. Get Jim out there to start talking his book and maybe it will finally move. In the meantime, I am just trading the chop.
jim rogers? that guy is a douche. 90% of forex trade is small specs? Although retail has gained it's really only about what, maybe 8-10% tops? If all retail stopped trading FX, I dont think you would see much of a difference. So if that is the case, it's really the 10% that matters then. It is moved mostly by pension funds, hedge funds and corps from what I know, and CB's of course... with data like that from AUS, they now price in less of a chance of a Nov RBA rate cut.
Also Iron ore, which I recall really dropping aussie down before it made its second attempt at 0600, is now up 12.5% since Golden week ended. RBA just cut last week.
yes, that is what I thought. I was surprised when I read the actual numbers. Most of the world lives in small little countries and they exchange currency regularly they have a hell of lot more interest in EUR than they have in XON (like about a trillion dollars more)