besides EUR & CAD...the AUDUSD works for very short term
trading. should the EUR weaken and AUD vis a vis the
dollar..weakness in the AUD usually confirms the move either up or
down..i never short with strength in the AUD..usually..they tell u
something at swings..i don't get volume in my currency crosses so i
use say FXE for the Euro to watch the volume..DTO is also a good
short term indicator..as XLE usually goes opposite its
move..strength in XLE and its tough to have the markets go
lower..
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AUDUSD
Posted by ucbarryk on 19th of Oct 2009 at 12:01 pm
besides EUR & CAD...the AUDUSD works for very short term trading. should the EUR weaken and AUD vis a vis the dollar..weakness in the AUD usually confirms the move either up or down..i never short with strength in the AUD..usually..they tell u something at swings..i don't get volume in my currency crosses so i use say FXE for the Euro to watch the volume..DTO is also a good short term indicator..as XLE usually goes opposite its move..strength in XLE and its tough to have the markets go lower..