FX TRADING STRATEGY FOR NOV 08
you must be wondering about what's going on tomorrow...well we are again flat for tomorrow for the U.S. and Europe, but we will have Australian Employment report coming out.
1. Wednesday, November 7th, 2006 (7:30 pm New York Time) AUSTRALIA
We have employment numbers coming out of Australia. They have more significance than usual. Australian dollar is very expensive right now, and it doesn't seem that there is a whole lot of room to go higher on interest rates in the next few months, so in my opinion, everyone is looking for reasons to short the Aussie. So there has to be a very big deviation in order for me to go long on AUD/NZD. And much smaller deviation if I have to go short. So the expected employment number is at 7.5K. If it comes out negative, I may possibly go short on AUD/NZD. It if comes out at 35K or higher, I may possibly go long on AUD/NZD. If you don't have AUD/NZD pair on your platform, u are welcome to possibly try to do a trade on AUD/USD. Just watch out for that 1.7775 level.
1. Wednesday, November 7th, 2006 (7:30 pm New York Time) AUSTRALIA
We have employment numbers coming out of Australia. They have more significance than usual. Australian dollar is very expensive right now, and it doesn't seem that there is a whole lot of room to go higher on interest rates in the next few months, so in my opinion, everyone is looking for reasons to short the Aussie. So there has to be a very big deviation in order for me to go long on AUD/NZD. And much smaller deviation if I have to go short. So the expected employment number is at 7.5K. If it comes out negative, I may possibly go short on AUD/NZD. It if comes out at 35K or higher, I may possibly go long on AUD/NZD. If you don't have AUD/NZD pair on your platform, u are welcome to possibly try to do a trade on AUD/USD. Just watch out for that 1.7775 level.
posted by Naveen Pantera at 2:36 PM
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