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FXA

Leave Aussie alone…

by Gav Leave a Comment

Oh crap. That’s the term I used the most last week. :lol:. Man, Aussie dollar was breaking down again and again. It broke my 0.93 support, and now trading below 0.90. Holy smoke… ๐Ÿ˜†

I did not make money from shorting Aussie dollar last week. The excuse I am going to use is…I was darn busy with my day job. What a crappy excuse, isn’t it? ๐Ÿ™‚ย  .. Nah, the fact is , my trading style tends to hold the position for a longer period, and negative interest position is not a good idea for me. So, I would rather stay away from the market.

Is next week a good time to short Aussie? I don’t think so. Well, at least I am not doing that. We have RBA monetary policy statement coming. But, don’t you think the on plate interest rate cut has already been priced in? Expect a volatile week, I am not trading. I would rather spend my time watching Olympics Games.

Here is the…..CHART!

[photopress:aussie_daily.gif,full,1]

Some statistics

[photopress:aussie_daily_trend.jpg,full,1]

About this tool

Here is the ETF ,CurrencyShares Australian Dollar Trust (FXA)

[photopress:FXA.jpg,full,1]

Chart is generated by Tradecision.

Filed Under: Trading Journal Tagged With: AUDUSD, FX, FXA, Trading Journal

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