Aud seems to be following the techinicals for now
I do understand the fundamental analysis, but we can't just base trading on a belief
I believe this or believe that with respect to educated and historical personal experience.
Let the market actually tell you something.
Currently the AUD is telling me to follow the trendline
Although the fundamental could actually make it change direction, however it has not happened yet and until then, I speculate it's not as likely to change direction until we actually see it confirm it's direction
We are now seeing higher,highs, and higher,low which means still moving in the direction of the trend. At least for now anyhow.
Remember ( the trend is your friend until it bends) basic technical knowledge
Everyone shrink up the AUD chart on the daily and 4hr chart and draw your trend lines
See my post and images,
News seems a great way to trade, but my opinion is it should line with the technical's.
If the news opposes the technical analysis my opinion is to stay out until the news confirms the direction of the markets.
News can change the direction and then you will see following waves in the new direction.
Why jump in and out on news all the time when the market has not told us that it's changing direction yet ?
Well, that's just my opinion, but I think this will save people a lot of time and money to make sure there is good reason to be in a trade.
The question is why did I trade ? Why am I in the market, Why am I exiting.
With news, it's based on the report and at least some historical personal experience, however if someone tells you something then you don't really know their level of personal experience without knowing the history of the person and the track record of the persons trading habits.
So it's purely emotional to trade based on no backround information at all really.
An entry strategy and an exit strategy is needed.
Let the market tell you when to trade.
Is the market going up, or is it going down, or is it going sideways.
Do you have a plan to trade the market based on up/down/or sideways.
If you have any doubt about your trade then (when in doubt stay out) otherwise it's just like Vegas. Hoping, praying, believing in a good trade with no trading plan.
Anyhow, Happy trading, it's just my opinion, but draw your trend-lines and see what I mean. The Aud seems pretty clear at the moment anyhow, and yes that could change, but not likely so far.
Lets see what happens.
Happy trading