- Joined
- 1 October 2008
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- 395
the sad bit is this is destroying australia's future slowly but surely...
Am I thinking too much? it seems by many aspect the market is a very dumb beast ..
any reasoning behind being long on aud?I am long AUD/USD. Today worked out pretty well. I am holding for a shot at 0.95+. It's at about 92.5 now so looking good. I opened at 90.2 and added more at 90.3 on a pull back. I am looking for another opportunity to add more as well. Even if we got to 0.95 I would still hold a bit, make sure there is a stop in place to protect profits, and hopefully get a shot in at parity. If we get to parity I would have added a lot more on pull backs along the way.
any reasoning behind being long on aud?
iron ore and met. coal are going to boom, we are going to sell???(flats in sydney to China?)
or just the fact we have less debt than us/europe?
when I go shopping at woolworth, even my canned corn comes from thailand and the ham from o/s, even paper
When is the last time i could buy something made in Australia?
or just following trends?
Just technical reasons. I don't have any fundamental reasons. I don't understand enough about economics to do that. It just looked like it was going to breakout on the chart from a purely technical standpoint.
I will support your view with another perspective and that being what appears (careful word choice) to be a broadening triangle (top) which is generally viewed as a bearish top. We shall see.
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As it turned out your perspective was correct and price pushed higher.OR it could be a market so strong that the reaction is horozontal and the latest up move is a move breaking out of the trading zone... depends how you look at it.
The potential upside is quite large if it moves towards parity though, which is the reason why I continue to hold.
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