The obvious choice should our scenario play out !!!!!!!
Round 1 to the RBA , give Gov. Debelle a round of applause text book jawboning.....................
Anyway we cant be too disappointed as if you see the previous post this pair has been giving us a steady source of income . ( See previous Post July 12th)
Right onto business :
With the AUD coming off the back of a nice rally for a while, now the Jawboning from the RBA , Its safe to say profit taking has commenced.
Important data due out today @ 13.30 for the Loony , so the MKT's will be watching .
Scenario 1: ( Short AUD ) "our preferred scenario as this will have way more traction longer term"
We have an ever improving Canadian economy and the recent figures has proven this, its expected that the data due out should tick higher , if this is to be the case then Short AUD/CAD all the way .
Short @ MKT - 0.9950 area
TP1 @ the trend line support 0.9860 area
TP2 area 0.98 levels where we were originally buying in .
Scenario 2: ( Long AUD )
CAD figures miss heavily, then we have just been given a life line opportunity to buy in again at a better price, it will be short lived due to the Sentiment language used buy the RBA, so don't get greedy get in and out ....
Long @ MKT 0.9950 area
TP @ 1.0040 area
Happy trading have a great weekend ...........
Anyway we cant be too disappointed as if you see the previous post this pair has been giving us a steady source of income . ( See previous Post July 12th)
Right onto business :
With the AUD coming off the back of a nice rally for a while, now the Jawboning from the RBA , Its safe to say profit taking has commenced.
Important data due out today @ 13.30 for the Loony , so the MKT's will be watching .
Scenario 1: ( Short AUD ) "our preferred scenario as this will have way more traction longer term"
We have an ever improving Canadian economy and the recent figures has proven this, its expected that the data due out should tick higher , if this is to be the case then Short AUD/CAD all the way .
Short @ MKT - 0.9950 area
TP1 @ the trend line support 0.9860 area
TP2 area 0.98 levels where we were originally buying in .
Scenario 2: ( Long AUD )
CAD figures miss heavily, then we have just been given a life line opportunity to buy in again at a better price, it will be short lived due to the Sentiment language used buy the RBA, so don't get greedy get in and out ....
Long @ MKT 0.9950 area
TP @ 1.0040 area
Happy trading have a great weekend ...........