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by Ashraf Laidi
Posted: Feb 22, 2010 5:00
Comments: 3119
Posted: Feb 22, 2010 5:00
Comments: 3119
Forum Topic:
Commodity FX (CAD AUD NZD NOK)
Discuss Commodity FX (CAD AUD NZD NOK)
Any thoughts about whether the BoC will be hawkish or dovish tomorrow morning. I went long USD/CAD just below the 1.0470 support mentioned in the IMT. Perhaps I was a bit premature, although the support seems to be holding somewhat; we'll see. Thanks.
However, I have to be careful with this pair as my trading platform with $1,000 lot sizes carries a 20-pip spread on AUDNZD (criminal!), while my platform with $10,000 lot sizes carries an 8-11 pip spread. I am not willing to place more than one lot in the $10,000 platform, and I have a hard time handing my hard-earned money to the $1,000 platform so they can pay themselves with a 20-pip spread.
I played a little long here, but took m y profits quickly. This is an overvalued pair which will get it's own sharp downplay in due time. You must be nimble on this one and USDCAD and Gold.
Also, don't forget the Westpac WEATHERMEN and HOMER ANALYSTS swill be pounding the table for Aussie come pre-Asia (Sydney) trading session later. I will let them pimp aussie higher, and partake in their Pump 'N Dump tactics.
what level are you looking to sell audusd
I closed my original USDCAD at 1.0448 about 1-1/2 hours ago pre-Cad GDP. I siclosed it here or on another forum thread at thew time, along with closing some short gold on a position trade.
Also, I expect another run-up on the "risk" assets as everyone gets lathered about the RBA meeting tomorrow at 4:30 NYT.
Can't wait to see our friends the Westpac WEATHERMEN pounding the table on Aussie!
Gold may rise into the RBA announcement early Wednesday, but then it is "Katie-Bar-The Door" for the decent sub-1100 to 1040 and lower,