I did not see any good setup today, in fact, I should say, I did not see too many good setup recently in Forex day trade, to be specific, not too many opportunites for trend trade. It is kinda messy. I am staying sideline at the moment.
So you know we have a new government, a new prime minister in Australia now. People are guessing what’s gonna happen to the strong Aussie economy. Is the current economy built by the small giant Mr.Howard’s legacy? or Mr. Kevin Rudd is going to prove that anybody can run the economy? I have no idea. But, I tend to believe, there was a little bit luck for Howard, part of the booming economy here were assisted by the skyrocketing raw material price, and the fierce demand from China.
Here is the comment I read on Dailyfx.com about AUD/USD.
AUDUSD Election results showed that Australian Prime Minister John Howard was ousted by Kevin Rudd. With Rudds priorities said to be focused on improving Australia’s education system, hospitals, and infrastructure, it appears that the RBAs hawkish bias may face little political pressure and is unlikely to fade anytime soon.