DislikedThis month I've lost some money on this crap pair!!
For me the problem is that I see two very strong camps;
- Bears
- Bulls
The bears are motivated by the fundamentals i.e. China slow down, Australian mining operations amongst others.
The bulls are motivated by the positive swap interest, the ongoing purchase of Australian dollar as a potential safe currency and lets throw in gold as well.
We also have to consider and plug into this, the economic situation the world finds itself in.
So what do we do, play both sides until...Ignored
The market means the big boys not us. Whatever we are thinking about the Aussie based on the fundies does not make any difference at all. I spent my time looking at the charts and the blank spaces to the right of current charts. This is what I can do and control in the trading.
This also helps me make judgements without bias. I am not preoccupied by what the fundies mean to the Aussie's next moves.
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