eur aud and gbp aud outlook and technical analysis ~ forex trading robots comparison
Today I want to concentrate on Forex crosses eur/aud and gbp/aud and share with you my expectations about upcoming tendency in the pairs and possible targets. I enjoy trading any security that trends whether it some currency pair, a stock or gold. I like repeating the phrase of Jesse Livermore that ‘big money is in big moves’. More often than not you do not even have to be concerned about your entry level as the tendency pushes the security in the direction of the move quite soon and even if you entered the market at the wrong time you will be in profit sooner rather than later. What you need to think more is your position sizing and where to place your stop. You want to maximize your profits and minimize your risks. This is how you manage to make money even if you were late to jump on the first wagon of an upcoming train.
Ok. Let us talk now about eur/aud and gbp/aud pairs. If you have been reading my posts you probably know my opinion about trends in various pairs. Do your own analysis and you will see that when some currency is very strong it usually is strong against all the other currencies. Your task is to find out the strongest currency and trade it against the weakest one. As of now, Australian dollar seems to be the strongest. You may notice that Australian dollar was in a downtrend from the middle of August (this year) against Euro and Pound. They performed best against the Aussie. However, you should also remember that those that were the strongest become the weakest when a trend changes and the weakest also become the strongest.
