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Daily Archives: May 30th, 2013

The AUDUSD took out the critical 0.9580 last support level and established a new low of 0.9539 which started me thinking is there a bottom to the AUD?

Then again, the AUD staged a great comeback by defending the low and is currently trading at 0.9665.  So, the real question here is, is the AUD going to go to 0.92 like what the street is saying?

I am not convinced.

I am going to undertake an analysis of the AUDUSD and share my thoughts with all of you next week.  Maybe, the time is near to do a long dated call option on the AUDUSD to capture the BIG move back up?  Possible?  Maybe?


Today was critical day; preliminary GDP and unemployment claims.  My hunch told me that the numbers could be weak, so when the EURUSD was trading at about 1.2940 at 8:15am Eastern time, I decided to put in a LONG limit order at 1.2970 with a SL at 1.2950 if things were to go wrong.

When 8:30am rolled around; the GDP came in at 2.4% below forecast of 2.5%, and unemployment claims was higher at 354K versus expectations of 342K.

The EURUSD within 10minutes triggered by limit LONG order at 1.2970 and within the next hour it hit 1.3030 which was my take profit level.  We locked in trading profits of 60bps or 0.46%………..great trade!  Of course, it went to a high of 1.3060 an hour later, but then again, we can’t always buy at the bottom and sell at the top.

What’s important is to execute a prudent strategy.

Goodnight all, I am going to play golf tomorrow, so no trading for me.