How To Position Your

AUD/USD Trade Today

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We got a lot of responses from our note saying:

“Go long the AUDUSD at current levels. The

AUD/USD 0.9225 support level is a good level to

place your stop loss”.

Based on a lot of scenarios, as well as the recent

Australian job numbers, the strategy to manage

this trade would be:

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• Sell a third of your position this morning

before the result release, lock in the healthy

profits. We still think momentum is to the

upside and so we feel comfortable holding the

remaining two thirds of the position.

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• Look to re-enter the position if the news is

better than expected and the AUDUSD pops on

the result – somewhere above 0.9400. The

worst case scenario is that you give away 30 or

so pips on a third of the position which is

hardly anything.

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• If the job numbers are worse than expected

and the AUDUSD comes off slightly, we will be

looking at re-entering at around the

AUD/USD0.9280 level if that eventuates.

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Bottom line:

Economists are expecting the unemployment

rate to rise to 6.1%. But traders are expecting

otherwise because of their knowledge of the

market. These traders have positioned for

something better. The momentum on the

AUD/USD will remain on the upside. Nonetheless,

traders must always keep an eye on their

strategies.

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Keen to learn about other ways to trade the

AUD/USD? Read more related posts at our

Invast Blog.

Disclaimer:

Please note that any advice given is general in nature past, performance is not

indicative of future performance.