Top
New York  London  GMT  Tokyo  Sydney 

Local banks prefer to sell AUD on rallies

By   || August 25, 2010 at 22:56 GMT
|| 8 comments || Add comment

The predominant opinion among the local interbank players is that selling AUD on rallies is the safer trade. They’re suggesting that either selling AUD/USD or buying EUR/AUD is the best way to go. Nobody seems willing to play too hard in the JPY crosses at these levels so they’re leaving AUD/JPY alone.

They usually base their opinions on weight of market flows and also on potential risk events.

Share and Enjoy:
  • RSS
  • Facebook
  • Twitter
  • LinkedIn
  • email
  • Print
  • Add to favorites
  • del.icio.us
  • Digg
  • NewsVine
  • StumbleUpon

Add a comment

8 Responses to “Local banks prefer to sell AUD on rallies”

  1. joe m on August 25th, 2010 23:13 GMT

    Anyone know how to get rid of this login popup from facebook? Every time I refresh the Forex live page it comes up. Thanks!

    Joe

  2. JJake on August 25th, 2010 23:14 GMT

    Sean : Looks like EUR/AUD has found a footing to start upwards again. What do you think? I am in at 4296 earlier today. Should get 100 pips or so.

  3. Sean Lee on August 25th, 2010 23:20 GMT

    JJake, once it starts moving you’ll get 1000 pips imho, but then again I’m greedy

  4. JJake on August 25th, 2010 23:28 GMT

    Just day trading Sean. I will settle for a hundred. This thing won’t shoot straight up. I think it will bounce up and down for a while until the pair turns a positive sentiment.

  5. Sean Lee on August 25th, 2010 23:37 GMT

    That’s right JJake, it is a very choppy cross but the intraday moves especially during Asia can be quite tradeable. Good luck

  6. John Kew on August 26th, 2010 00:50 GMT

    Sean,

    Any feel for the GBPAUD cross?

  7. Sean Lee on August 26th, 2010 00:55 GMT

    I squared up my GBP/AUD long position John as I’m sort of bearish on both the GBP and the AUD at the moment which is why I’m gonna stick with my EUR/AUD longs only. I still think GBP/AUD more likely to go up rather than down but I’m just not overly sure on what the correct levels are.

  8. John Kew on August 26th, 2010 01:22 GMT

    Thanks Sean

Bottom