I am sure we are all aware of the battering AUD has incurred paired against it's oceanic rival. The pair now at 1.08 is firmly entrenched at long term historic lows, 1.1 being the the support floor ever since the pair began to trade on the open market in the 70's!
I intend to start loading up long on the pair for the mid to long term. I am not too worried as to the fundamental driving forces right now which are the obvious reason for the sharp downtrend, they will change over the time frame in which I have open positions!
The strategy for doing this will be entering a "small" long position for every ~400pip drop in price. I wont be using a stop loss and don't care how far south price drops. In fact the further it falls the better as it allows entry into more positions at lower prices. This is a longer term investment strategy more than a trade.
I intend to start loading up long on the pair for the mid to long term. I am not too worried as to the fundamental driving forces right now which are the obvious reason for the sharp downtrend, they will change over the time frame in which I have open positions!
The strategy for doing this will be entering a "small" long position for every ~400pip drop in price. I wont be using a stop loss and don't care how far south price drops. In fact the further it falls the better as it allows entry into more positions at lower prices. This is a longer term investment strategy more than a trade.
Nil desperandum