SaxoTV

Lucas: Continued weakening for AUDUSD

256 views
October 08, 2014 aud, audusd, australia, australia economy, australian dollar, australian economy, forex, forex 2014 outlook, forex audusd, forex buying, forex idea, forex market, forex markets, forex saxo bank, forex selling, forex trade idea, forex trade ideas, forex trading, fx, fx audusd, fx crosses, fx investing, fx market, fx markets, fx options, fx saxo bank, fx spot, fx strategy, fx trade, fx trade idea, fx trading, hsbc, morgan stanley, saxo, saxo bank, saxo bank saxo tv, saxo bank trading floor, saxo capital markets, saxo tv, saxo tv saxo bank, saxo tv trading floor, saxo tv tradingfloor, saxo tv tradingfloor.com, saxotv, steve lucas, trade idea, trade view, traders tale, traders tale saxo tv, traders tale steve lucas, trading, trading fx, trading idea, tradingfloor saxo bank, tradingfloor saxo tv, tradingfloor trades, tradingfloor.com, tradingfloor.com insights, tradingfloor.com saxo tv, tradingfloor.com trade ideas, us dollar, us dollar index, us dollar index bearish bais, us dollar index dip

The Australian Dollar has gained momentum from the US dollar’s weakening this week. Investors are expecting the AUD’s strength to be short-lived. Steve Lucas from 3c Analysis is looking to sell the AUDUSD pair as sellers have begun to enter the market in early trading.


This current rally for AUD is not expected to last, which is evident by major institutional investors losing confidence in the currency recently. Morgan Stanley revised down its outlook on the AUD. The investment bank expects prices to hit AUD 0.84 by the end of the year and AUD 0.76 by 2015 year end, from earlier estimates of AUD 0.95 and AUD 0.88. HSBC also lowered its forecast for AUD prices from AUD 0.86 to AUD 0.82 for the end of next year. Both bank’s revised forecasts correspond with the Australian government’s push for a weaker Australian Dollar.

This morning Steve is expecting to sell the recent rallies in AUDUSD. He is looking to enter the trade at the market open and again on a rally to AUD 0.8785. His two targets for the trade are AUD 0.8727 yesterday’s low and AUD 0.8652 this week’s base. A stop can be placed at AUD 0.8817.

Disclaimer

Saxo Bank Group provides an execution-only service. All information provided on Tradingfloor.com is solely for general information. Tradingfloor.com does not contain (and should not be construed as containing) financial, investment, tax or trading advice or advice of any sort offered, recommended or endorsed by Saxo Bank Group and should not be construed as a record of our trading prices, or as an offer, incentive or solicitation for the subscription, sale or purchase in any financial instrument. Saxo Bank Group will not be liable for any losses that you may sustain as a result of any investment decision made in reliance on information which is available as part of the Tradingfloor.com or as a result of the use of the Tradingfloor.com.

Please read our notification on

Non-independent investment research disclaimer

Full disclaimer