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SwagatoBhatta
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As a novice trader, I look for trades that are of higher probability and better returns. I look for shares which has mismatched price between expectations and reality. And I try to jump before others into such trades.
  • The Mentality Of Aussie Dollar  1 comment
    May 4, 2012 4:00 AM

    Every forex traders out there seem to think that the best currency nowadays is the mighty Aussie Dollar. It seems to be getting the same mighty feeling like the way US Dollar used to get during its glory days. However, Australia is no USA. And it is not the reserve currency. Hence, today or tomorrow it will lose its lust. Everyone knows the difference between love and lust. US Dollar is always the love for central banks around the world. And, Australian Dolllar is yesterday's lust that is losing its value slowly.

    Following is a chart I have drawn using my broker. One can easily see that the price is extremely bearish. When I say extremely I do not mean it will drop rapidly. I am saying that the price will gradually flow down that is better than highly volatile currencies.

    (click to enlarge)

    The trendlines are nicely getting respected. I have a bearish position on this. The 1.0295 is the 61.8% on recent price changes. 1.01915 is the price I expect AUDUSD to reach by 1pm Tuesday coming. Unless there is any news or moving factors appearing before that time, it is almost certain. Slow and steady wins the race when it comes to Forex.

    Themes: Aussie Dollar, US DOllar, RBA
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    The prediction came true to exact words. Your NFLX prediction came true too a few days back. Well done. Please predict with something else again. You are a genious man
    20 May 2012, 12:20 PM Reply Like
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