Close Open Orders: 2007-03-21 22:25
Trade Idea: 2007-03-19 22:30
Welcome everyone to the first “Playing with ComDolls” post! Tonight we will take a look at the Australian Dollar. The “Aussie” has made a nice run against the US Dollar, going from .7800 on March 13th to .8000 today. This was on the back of traders gaining their risk appetite back, a higher inflation outlook, and rising gold prices.
Because of the strong run, we may see a retracement on profit taking before the uptrend resumes. We will scale into a long position around the 50% and 61% Fibonacci levels drawn on the chart.