dauily chart and poss upside targets audusd, page-65

Thanks everyone for the responses on AUD/SGD.

I went short AUD to the SGD and got lucky with the USD recovery late on the 19th..Not sure if I will continue to dabble with that one as I realized belatedly that the SGD is also hitched to the Asian growth story- and yet also pegged to the USD.

While it is confined to a band with the USD, it can swing around within that band. So being short the AUD to the SGD wouldn't work too well if there were any signs of weakness coming out of Asia as the SGD would logically slide to the lower end of its USD band and therefore I'dbe better off being long USD. Does that make sense?

Anyway, will stick to the major pairs until I have
some idea of how all these pairs revolve around each other. It is quite complicated isn't it.

Got to say though, I like the fact there is money to be made (or lost) 24hrs a day!

Thanks again for the feedback

Chrs

Hendrous