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Simit Patel's  Instablog

Simit Patel is an individual currency trader who focuses on analyzing the EURUSD exchange rate. He previously spent four years working as a currency broker and analyst; he currently is a contributing analyst at InformedTrades.com (http://www.informedtrades.com), where he offers commentary about... More
My business:
InformedTrades
My blog:
Crisis Investing
  • The Price Points I'm Watching to Re-Enter A Long Australian Dollar Position 0 comments
    Oct 29, 2009 03:12 PM | about stocks: FXA
    Below is the AUDUSD weekly chart I'm watching closely. I'll re-evaluate if we can get a break above the two week high of .9327, or if we get a pullback on the hammer down to around .9050, where the 5 EMA on the weekly chart is.




    I'm also watching $1050 price level on gold. When AUDUSD breaks above 9327, I'd like to see gold above $1,050.

    Fundamentally, the argument is the same as always; the dollar is in trouble and current monetary policy is reinforcing those woes, and the carry trade with the higher yielding Australian dollar is on. See my blog for more on those arguments.
    Stocks: FXA
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  1. Time to Sell Gold? (2 Comments)
  2. Why Now Is the Time to Get Back Into the Markets (1 Comment)
  3. Time to Re-Enter a Long Australian Dollar Position (1 Comment)
  4. Re-Entering A Long AUDUSD Position (1 Comment)
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