*Official* Forex Trading thread. (DYODD advised) - Part 2

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Mr.Canberra

Mr.Canberra

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AUSSIE: Aussie is trading lower post-RBA, the pair...

orhanzi said:
my sl at .782 level. don't think will squeeze till there? lol
Click to expand...

Should be quite safe before London and New York session. :s13:

AUSSIE: Aussie is trading lower post-RBA, the pair easing from around $0.7818 to a base so far of $0.7792. At first glance the statement seems all rather expected and local traders are surprised the Aussie has been sold. Support is now located at $0.7757 (200-dma). Aussie was last at $0.7793.
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kakkowarai

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AU should be breaking 78, their economic has been bad and greenback strength. 0.7725 first target, 0.7650 second target.

However, that 0.78 level is stubborn as hell.
 
Jedihan

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I long au before RBA and added 1 more lot afterwards. Waiting for it to break 78
 
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kakkowarai

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#RBA punchline: "higher A$ expected to result in slower pick-up in economic activity & inflation than currently forecast." And so, AUD lower

Quoted from dailyfx.

Fundamentally, weak AUD benefits them.
Technically wise, there is a downward range channel and resistance has been tested many times without breaking.

If this is not going down then i really bwg. haha
 
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ket6h3.png
 
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Mr.Canberra

Mr.Canberra

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RMB inclusion in the SDR Basket

October 1, 2017 is the one year anniversay of RMB inclusion in the SDR Basket. Where are the RMB pundits on SSI now? Haha. :s13:

In the next financial collapse bigger than GFC 2008. SDRs will be the 'new money' to be loaned to distressed sovereign governments. Terms and conditions apply. :D

http://datahelp.imf.org/knowledgebase/articles/1081105-rmb-inclusion-in-the-sdr-basket

The latest round of five-year review of the currencies of the SDR basket decided to include Chinese renminbi (RMB) in the SDR basket. Effective October 1, 2016 the Chinese RMB, will be a part of the basket in addition to the current SDR basket currencies which consist of the U.S. dollar, euro, Japanese yen, and British pound sterling.

As a result, the RMB is a freely usable currency as set forth in the Articles of Agreement. This means that the RMB will play a more central role in the financial operations of the IMF. For example, members borrowing from the Fund can receive disbursements and make repayments in RMB. The inclusion of the RMB into the SDR basket also means that a RMB instrument will be included in the calculation of the SDR interest rate.

New vs. Old Weights

2016 Basket 2010 Basket

USD 41.73 41.9
EUR 30.93 37.4
JPY 8.33 9.4
GBP 8.09 11.3
RMB 10.92
Click to expand...
 
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Mr.Canberra

Mr.Canberra

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AUD/USD

AUD/USD shortists are too optimistic. AUD/USD will return to or near pivot point 0.78223 by the end of the trading day. :s13:
 
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