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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)
what prices did u short gold at chloe ?
Ashraf
Actually, I had a Limit order at 1.2760 as advised by Ashraf before I went to bed. But the lowest Offer price was 1.2670 on CMC MarketMaker last Friday and it shot up. Missed by 7 pips !
If you are worried about your existing shorts on AUDNZD, give it some patience. Ashraf has more details on rationale for short. I remind myself by looking at the monthly chart and notice that AUDNZD so far hasn't broken 1.30 psychological level or July 08 high around 1.2965. It could be a grind for AUDNZD to get to another 30 pips from 1.2935 at the time of writing. Wait for Gold to drop or even EURO, and AUD will come down with it.
Even if it does break 130 and holds today, it will be on tomorrow's newspaper in Australia, and it will be a story everyone will talk about, and could open up room for more buyers? That makes it even better time to position shorts. It hasn't happened yet, so let's see.
Callum
Any chance of RNZ raising rates soon like RBA ? May help AUDNZD to come down. PippedOff, u know ?
it all comes down to BOC comments either hawkish or dovish later today.