Disliked{quote} I wouldn't touch it until this month/quarter is over at least. Then reassess. The fed announcement has given the green light for an extended bull run.Ignored
I disagree that the FED's decision opens the door to an Ozzie 'extended' bull run. Also, I am not trading 'against' the FED I am trading with the trend and 'against' an economy that still has some struggles ahead.
There is a good possibility that the RBA and the FED will not change rates for the rest of the year so we are left with technicals and fundamentals. The Ozzie retraced roughly 5.6% from its 9/4 multi year low. That is a healthy retrace and may be technically just what the doctor ordered. Fundamentally going forward I have to give the edge to the US from a perception standpoint even though I believe the 'numbers' don't truly reflect what's going on in the US economy. I am not saying I am UJ bullish or necessarily AU short either but I don't expect the Ozzie to make it back to 7500 or near the daily 200SMA. I suspect we will range for awhile and then see 7000 again.
Overall, there is too much global uncertainty, too much commodity price pressure, too many things that can go boom in the night for me to be holding riskier assets. I'd rather be selling the risk rallies, the Ozzie, Kiwi, EJ, etc.
Anyways, always good to hear another traders view. There are plenty of green pips for all of us
Pride always comes before destruction.... -Proverbs 16:18
DARWINEX ZERO All Time Return:
22.2%