Investors should be buying the Australian dollar now, strategist says | Forex Factory

  • Investors should be buying the Australian dollar now, strategist says

    From cnbc.com

    video Calling it his “best trade,” one currency strategist said investors should buy the Australian dollar now. “The Australian currency is very undervalued at these levels,” Patrick Bennett, foreign exchange strategist at the Canadian Imperial Bank of Commerce, told CNBC on Thursday. He said he expects the U.S. and China to come to a resolution on their trade tensions, which would leave the Australian dollar “very well positioned,” he told CNBC’s Squawk Box. The currency Down Under is often seen as a gauge of global risk appetite. In some cases, it is also viewed as a proxy for China, especially ... (full story)

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NotAtrader
Dec 28, 2018 5:55am
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Quoting Dariusz
Forex isn't for investor - for speculators only.
Yes FOREX is unforgiving game of speculations for anyone who doesn’t have sufficient knowledge about technical and fundamental analysis. In such case, you have a better chance to win some money on lottery than making profit on FOREX trading.
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djhenry1981
Dec 28, 2018 3:01am
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Whatever this guy is smoking, I'd love for him to share.
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ArcZone
Dec 28, 2018 6:44am — Edited
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Quoting NotAtrader
{quote} Yes FOREX is unforgiving game of speculations for anyone who doesn’t have sufficient knowledge about technical and fundamental analysis. In such case, you have a better chance to win some money on lottery than making profit on FOREX trading.
Institutions win. Retail loses

Knowledge of (i) Supply Demand Level based timing (ii) Dominant Trend H4, D1, W1 (iii) Choosing Right pair and timing (iv) Proper Leveraging at the right time (v) Trading in News shadow (vi) Not jumping on trades Impulsively but waiting for it to fall in your Set Up are some of the key factors.

Learning these will take at least 1 year of dedicated practice. Most will take several years
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smikester
Dec 28, 2018 12:04pm
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With an engulfing bearish monthly candle it looks as though Aud/Usd support at 2015 - 2016 levels will break and we may revisit .6500 or even .6000. I'm not seeing any fundamentals to change this.
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NotAtrader
Dec 28, 2018 6:48am
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Quoting ArcZone
{quote} Institutions win. Retail loses Knowledge of Supply Demand Level and Dominant Trend, Choosing Right pair and timing are key to win consistently
The first part of your statement is not necessarily true. I am not an institution.
Yes knowledge is everything. You can be one of the 22% consistently profitable traders.
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Bakker
Dec 28, 2018 12:30pm
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The daily chart is building a double bottom, but if it will succeed we shall have to wait until the end of this day. If the daily bar can manage to stay in the green there's hope that this guy with the tie might be right!!
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billv
Dec 28, 2018 4:01pm
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The guy talks about investing and Not about day to day trading
He particularly likes to hold sell positions in EURAUD because of the high +ve swap
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ArcZone
Dec 28, 2018 7:02am
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Quoting Starcraftmaz
Lol this guy, what is he smoking ?
I do not smoke
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Bakker
Dec 28, 2018 12:38pm
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What worries me is that the guy looks like a 2nd hand car salesman!!
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heispark
Dec 28, 2018 4:43am
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Yes, AUD looks good to invest.......
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Starcraftmaz
Dec 28, 2018 6:56am
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Lol this guy, what is he smoking ?
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Dariusz
Dec 28, 2018 4:41am
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AU 0,7016 support and 0,7045 higher support
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Dariusz
Dec 28, 2018 4:45am
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Forex isn't for investor - for speculators only.
Reply
ArcZone
Dec 28, 2018 7:00am
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Check interviews of proprietary trading desks which beat institutions. They take one year of full immersion including weekends. Some of them become consistent 7 figure traders. All based on mastering one A Set Up.
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Yowser
Dec 28, 2018 8:10pm
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He is sweating. Looks like there could be at least 1 more leg before the turn.
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Yowser
Dec 28, 2018 9:24pm
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Quoting djhenry1981
Whatever this guy is smoking, I'd love for him to share.
It is legal now. He just needs a bag of Doritos.
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Trader#2090
Dec 28, 2018 4:22am
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Sure!!!! with China's economy slowing up, trade wars, a bear market, inverted yield curve and a flood to safe havens at the moment. The "risk on" AUD is definitely the way forward next year ;-)
Got to love CNBC, one day a bear market is "confirmed" and the very next day "investors" see the markets rallying in 2019. They didn't get the memo that some of the biggest daily rallies throughout history in stock indexes happen in BEAR MARKETS!!!
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Tradingwithw
Dec 28, 2018 8:44am
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Investors should put all of their money into leaves for 2019. Only the brown leaves, but if you can find green leaves those will work too. - Guy wearing a tie (strategist)
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imagindon
Dec 28, 2018 9:40am
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Aud... is not well position for buying unless fundamental proofs comes in... but now I will never buy it ...
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