Last week, I wrote that shorting AUD/NZD is my favorite trade. At that time, I said that if the currency pair rallies back above 1.31, then the uptrend has resumed and my call is wrong. However, AUD/NZD tortured me and came within 2 pips of 1.31 (1.3098) before reversing sharply lower. There [...]

Posted in Australian Dollar, Forex Technicals, aud/usd, forex blog 3 Comments »

My favorite forex trade right now is shorting AUD/NZD.
After hitting a 9 year high of 1.3124 last week, the rally in AUD/NZD is losing steam. I should have posted about this earlier, but I think there is still room for the currency pair to fall.
Last week, the Reserve Bank of [...]

Posted in Australian Dollar, Favorite Forex Trades, New Zealand dollar, aud/usd, australian dollar forecast, forex blog, forex signals 16 Comments »

I was on CNBC Australia last night talking about the outlook for the Australian dollar and the upcoming RBA rate decision

Posted in Australian Dollar, aud/usd, australian dollar forecast, forex blog No Comments »

My favorite long term forex trade is short GBP/AUD. From both a technical and fundamental basis, the currency should be headed lower.
Based upon the recent trend of economic data including the highest level of unemployment in 12 years and the sharpest decline in retail sales since Feb 2009, the Bank of England should [...]

Posted in Australian Dollar, British Pound, Favorite Forex Trades, aud/usd, forex blog 10 Comments »

I have been bullish Australian dollars for some time not only because I have witnessed first hand the strength of the Australian economy earlier this year but also because the central bank is slated to raise interest rates again in Feb. Australia’s recovery is largely thanks the expansion in China. Earlier this week, [...]

Posted in Australian Dollar, aud/usd, australian dollar forecast, chinese reserve ratio 5 Comments »