EUR and GBP both already bottomed and broke out against dollar Series of higher lows on AUDUSD Approaching trendline Potentially weak dollar in the year of presidential elections Aussie seems to be setting up for a potentially very nice LONG setup!
I agree with max... you are seeing some wishful thinking by yourself alone.. Australia has a completely different economy than Europe or UK... the AUD is actually quite close to the CAD as both are very resource dependent... oil for CAD, and minerals for AUD.
Earlier in the day, the data from Australia showed that consumer sentiment weakened in December with the Westpac Consumer Confidence Index dropping to -1.9% from 4.5% in November and coming in worse than the market expectation of -0.7%. Nevertheless, the AUD largely ignored the disappointing reading and continued to stay resilient against its American counterpart.
Charts don't lie. Price precedes fundamentals, so i don't care about any news and what not. Aussie already punpin. Buy more if it dips.
Thanks, profited nicely today on an AUD/USD bump, this currency was not on my current radar ( has been in the past ), I appreciate you calling it out.
So, recently, one of the shower meditation type thoughts that i had, the essential fundamental building block for forex, if one is in the long, then only USD or EU against all others. The minor ones, like aussie, i would choose only for short. It's like, why one would exchange 1.3 tril economy against 18 tril (?) Or when someone decides to go long on GBP, and even worse, long against USD, like, one has to think, that tiny island, with all that brexit mess, gonna have a stronger currency than US, - seriously (?) (I have in mind , long term swings, weekly chart) Then, its the most liquid market #1 - Fx #2 - Bonds #3 - Equities, thus with that liquidity, and their overpriced real estate & escape in 08, could it really be, that undervalued ? (still learning the basics of fx, feel free to correct) (sim, still, punishes a lot for using market orders) p.s Never gave a thought, can a currency, be undervalued. p.s.s What im curious about, EUR/USD outcome, last time 1985, 2016 and now on major clashing point of this decade. If the EUR brakes above 1.18... Italy debt, Greeks goes nuts or Brits, Spanish banks, Ukraine, ,,European Army'' etc ; something could be done, to draw away attention & shake out the major holders (?), but then, kaboom, - sky high fly. What would that signal about EUR, the up trend against USD (?)
Nice to hear! Atleast someone profited. To be honest i've never in my life made a forex trade. I was just boring my own a*s from my market of choice(crypto) doing nothing, and i randomly clicked on aussie as one of the markets in my tradingview lists and thought welp that's a nice long, but i've set orders and didn't get filled, i didn't know it was gonna go up that quick, and i actually only viewed the daily chart, skimmed through it in seconds and it looked good. GBP outperformed though! When crypto is moving, it's fantastic. But it's so dead right now it's really miserable.
Dude, you've started something like 5 threads entitled "Is X SERIOUSLY undervalued/overvalued". Give it a rest and learn some originality, for Pete's sake! This isn't Quora where you're getting paid to ask questions.