Aloha everyone, i trade crude oil (sell only), but keep an eye on the dollar/eur. However i have always had a sorta thing for the aud/usd.. (Its just the most exotic pair and so i was drwn to it) lol Eur/usd still got further to fall before rebound, but look at the montly/yearly chart for aud/usd!! We undone nearly 5years steady rise in 2months!! But based on what exactly??? :eek: What happend that 1day that made the dollar suddenly become such an attractive and powerful currency that everyone wanted to have?? The country that the dollar belongs to is crashing by the hour!! Over the last 2 months the ONLY good thing for usa was oil price fall. Nothing else that can justify such a steep fast fall aud value! i mena fking hell they got over 7% interest rates and still doing fine, USA have under 2% and going bankrupt! lol So as soon as my sb firm opens and the fx market opens im gna buy aud/usd, with a stoploss at 7756. And then just sit back and enjoy the bounce.. Anyone else fancy joining me on this though??
When the US catches a cold the rest of the world gets pneumonia. Its not so much the dollar is strong its that the other currencies get that much weaker. Just one guys opinion though. (I own AUD myself and hold them from the gains made on the SPI as a hedge)
its already risen 50ticks since i started typing this.. lol ive made a chart of where the strong must buy levels are, and possible targets.
Like that .7500 area on your chart. Not actively trading the AUD @ moment, so this opinion isn't properly researched.