Any US Dollar cross in the Forex markets has been on fire lately. Just look at the EURUSD pair, we’re seeing $1.44 and my guess is that $1.45 isn’t too far behind. AUDUSD is trading at $0.91 with its eyes probably on parity.
Thank goodness for the Forex markets! It’s the only place to where I can trend follow the Dollar’s demise into oblivion (sarcasm). Just last night I put in a AUDUSD and EURUSD trade last night and sold half of my AUDUSD position this morning. End result, 57 pip profit. My EURUSD position is sucking wind however but I remain long as the trend remains up.
I’ll be posting my trend forecasts later today in the members section, thanks to all for your patience.
Update: I just sold my remaining AUDUSD position, sometimes its better to take the money and run!