Good day traders!
Trade update:Aussie dollar trade closed with a 97 pips gain. It was a trade driven by fundamentals. With quantitative easing by the Feds of 600 Billion and also with the recent increase of Aussie’s interest rates by 25 basis points by the Reserve Bank of Australia (RBA), the trade got its fuel to move to higher grounds. Check out the chart below to see exactly my entry and exit price.
Looking to buy the Aussie Dollar and targeting the 1.01 to 1.05 area. With the cat out of the bag and the Feds announcing that Quantitaive easing is going to go through with a 600 Billion tag, there is a good probability of risk currencies testing the upside. Nevertheless, the market could also act within the adage of sell on news and one still need to be cautious.
To your success!
Singapore Forex Traders Blog