i reed it has a chanel/6mounts in this market is sill impossible to gamble it/nest egg in AUD get it out,never a nest in fx,gamble with what you can afford to lose, be smarter than broke,market will always be hear to get back in small,give market time to get off and running agan
Sydney AJ 22:38:49 GMT - 09/10/2012
SellAUDUSD Entry: 1.035 Target: 0.95 Stop: 1.0475
Well, I think there are headwinds ahead for A$ particularly with the sharp falls in hard commodities, Iron Ore and coal for example which make up a strong % of export revenue. The steel industry looks overdone and the massive profits are going to trim back. Historically the A$ has been influenced by commods prices including gold, but it's not a totally stable or reliable correlation for S/T moves. I think we have seen the L/T top, just a question of how many bounces it has left before s sustained fall. - AJ
aussie10:56:26 GMT - 09/06/2012
I am not sure if AUD will rise or fall because we don't know the market trend. I think we should be updated on the news.
muntinlupa10:13:40 GMT - 09/04/2012
How come you said that the AUD is highly dependent on gold?
Southampton Abizer 11:34:15 GMT - 10/17/2011
I am new to this site myself but have been trading forex, particularly the euro and the greenback for quite some time. I think the AUD is highly dependent on gold (as this is Australia's prime export)
Gold has increased and reached a high of almost $1900 in the past few months and I believe this has been fuelling the AUD's rise, however I came across an article on forexpros.com yesterday that said investors are shifting to higher risk currencies and moving away from the dollar, I believe this is the sign that a marginal amount of faith has been restored in the financial system and thus gold may be going down again and this might affect the AUD negatively.
I base my trading on technical indicators and I looked at the AUD/USD hourly chart and saw the following:
1) Parbolic SAR is above price, RSI trending downwards, Bollinger bands converging.
At the this time 13:28GMT I feel there will be a price breakout as the price has been going sideways since the open and I think there is a high chance the price will go lower although this is not 100% right but there has been a moving average crossover at the top and CCI is falling so all the technical guys like myself must have covered and are setting up short positions but again if we see any new announcements by the fed or Euro zone then this may have a different impact.
Also the non-farm payroll is due on the 4th of Nov and you may want to see what happens there as there will be serious volatility during the second week of Nov on the AUD/USD pair
Perth13:31:25 GMT - 10/12/2011
I'm not new to Forex trading but am new to this site..However, the global economy is making me nervous now.. I'm currently holding some AUD but I'm unsure if I should be holding or selling them.
Following the news this past few weeks, I've noticed how the AUD is heavily dependent on the Euro and China economy.
And with the recent news of U.S senate's decision on a bill to penalize China exports if they do not increase the value of the yuan, [B]do you guys think the consequences of this would ultimately result in some form of slowing down of the China economy, and thus affecting the AUD?[/B] :eek:
Also, the AUD has been going up recently and I've read news that [B]this is bad for the tourism industry and trade?[/B] Is this something I should be worried about?
As I have a significant portion of my nest egg in AUD, I am unsure if its a wise idea to hold on to it. Please advise!
I've posted this question in other sites but havent gotten a reply =
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