Friday 20 April 2012

Trading Update week7 on AUDUSD

AUDUSD closed at 1.0372 this week as shown in the daily chart below.


This week AUDUSD is going sideways, is a sign of trend reversal. Since there is a trade deficit risk in Australia, I don't expect the price can surge very high. I expect to close all the position at some price around 1.0500. In that case, 0.10 and 0.50 lot size positions would have made profits, just the 0.01 lot size position lost. Well, that is my strategy, first entry is a psycho test, so the lot size is small.
Let's see what happen next week.

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