With a relatively light economic calendar, Asian markets traded lower as skepticism focused on the EU economic summit starting today. The Nikkei was down 58 points, the Hang Seng was down 253 points and the Australian S&P ASX was down 14 points. After the rate decisions last from BOJ, Fed and RBNZ, focus shifts on the RBA rate decision on February 7th. The majority of OpenBook traders are short on the AUDUSD with average limits at 1.0450 and stops at 1.0650. Ahead of the rate decision OpenBook traders are using various strategies on the pair to net gains.
OpenBook trader molla01 has become an expert on trading the AUDUSD with his performance in the last week. This trader with 2 copiers and 11 followers on OpenBook has returned over 200% in the last week by trading the AUDUSD. This trader has been trading on a 100 pip move in the pair by shorting near 1.0540 and closing near 1.0444. This strategy has netted the trader close to 95% returns with his medium risk strategy. The trader has also been looking for buying opportunities near 1.0450 and closing near 1.0577 with gains near 100%. This trader has also built up a sizeable long exposure on the AUDUSD and is expecting the pair to target 1.0670.
OpenBook trader sliderking who hails from Australia is another trader who has done well in trading the AUDUSD. The trader is a short term trader unlike trader molla01 and has been scalping the pair for a few pips at a time. This trader makes his own decisions while trading the AUDUSD but relies on CopyTrader for guidance on other pairs. For EURUSD, this trader is copying top trader NMarijus. In the last several days, this trader has obtained gains as high as 32% while scalping the AUDUSD. This trader does use high risk strategies to maximize their gains during scalping.
In economic news relative to Australia, the credit rating agency Fitch has warned that it could cut the AA credit rating of Australia’s four largest banks because of their reliance on offshore borrowing to fund their lending activities. This move by Fitch follows a similar action taken by Standard and Poor’s credit rating agency in November 2011. Australian banks continue to be one of the highest rated banks in the world in spite of the downgrade threat. The four banks in question are Commonwealth Bank, Westpac Bank, National Australia Bank and ANZ.
OpenBook trader molla01 has become an expert on trading the AUDUSD with his performance in the last week. This trader with 2 copiers and 11 followers on OpenBook has returned over 200% in the last week by trading the AUDUSD. This trader has been trading on a 100 pip move in the pair by shorting near 1.0540 and closing near 1.0444. This strategy has netted the trader close to 95% returns with his medium risk strategy. The trader has also been looking for buying opportunities near 1.0450 and closing near 1.0577 with gains near 100%. This trader has also built up a sizeable long exposure on the AUDUSD and is expecting the pair to target 1.0670.
OpenBook trader sliderking who hails from Australia is another trader who has done well in trading the AUDUSD. The trader is a short term trader unlike trader molla01 and has been scalping the pair for a few pips at a time. This trader makes his own decisions while trading the AUDUSD but relies on CopyTrader for guidance on other pairs. For EURUSD, this trader is copying top trader NMarijus. In the last several days, this trader has obtained gains as high as 32% while scalping the AUDUSD. This trader does use high risk strategies to maximize their gains during scalping.
In economic news relative to Australia, the credit rating agency Fitch has warned that it could cut the AA credit rating of Australia’s four largest banks because of their reliance on offshore borrowing to fund their lending activities. This move by Fitch follows a similar action taken by Standard and Poor’s credit rating agency in November 2011. Australian banks continue to be one of the highest rated banks in the world in spite of the downgrade threat. The four banks in question are Commonwealth Bank, Westpac Bank, National Australia Bank and ANZ.
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