GBPAUD: Attempting to Capitalize Over the Australian Dollar

Digital Derivatives MarketsForex, Trade Alerts

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GBPAUD Intraday Strategy

We are exercising our monthly strategy in AUDUSD as described in our 2014 Trading Opportunities in GBPAUD via an intraday entry head of the monetary policy minutes at 01:30am GMT. What encourages us to take the intraday trade in the Sterling-Aussie is RBA Kent comments to the strong Aussie.  Remarks that the strong Aussie has its benefits lead us to suspect a hawkish statement is due.

There is a significant risk in attempting to capitalize over the upcoming data but it is a risk we are willing to take as it is line with our bullish projections for the Australian Dollar (AUD).

GBPAUD 4hr Chart

Please click on the chart to enlarge:

GBPAUD Intraday Strategy 16/09/14

GBPAUD 4hr Chart 16/09/14

We are layering the protective stop at 1.8008, targeting 1.7858. If the data will strengthen the Aussie, this will allow us to realize partials and rollover the remaining into the Scotland referendum, benefiting from the positive swap. It is essential to highlight that in GBPAUD daily chart a reversal pattern has formed although our technical models are currently neutral for the cross. Volatility is likely to be seen 15 minutes prior to the released data.

GBPAUD is trading at 1.7970 at the time of this writing.

16/09/14 UPDATE: We have covered the spread ahead of the expected volatility that is often seen 15min prior to key economic figures. The trade is only in several pips profit at the time of this writing. Current price: 1.7964.

16/09/14 UPDATE II: The recent weakness was not expected prior to the release. We are liquidating 15% of the short trade at market price, 1.7958.

16/09/14 UPDATE III: GBPAUD is trading at 1.7950 at the time of this writing following the RBA minutes. We are liquidating another 10% of the trade at market price.

16/09/14 UPDATE IV: Despite our efforts GBPAUD triggered our protective stop loss order before retracing lower. We have incurred a loss of +38 pips.

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Last Updated on August 9, 2015