I shorted GPB/CHF and longed AUD/JPY!

GPB/CHF 1H CHart

AUD/JPY 1H Chart

Both Positions got stopped out!

10Pips more on both Stops and they would still be open.

I am waiting for an re-entry point.

I longed AUD/JPY @ 98.13 with an SL @ 97.60 !

First Target 99.50  Second Target 100.50!

The Australian Dollar is @ an 23–year high vs the US Dollar.

I longed the AUD/USD @ 0.9510 with an SL of about 50pips.

I plan to hold this trade until at least the Aussie Interest Statement in 2 weeks.If i get stopped out, i will search for an re-entry position.

I already posted the link to this ,but i have to repost the whole text ,because every time i  read it reminds me why i see the world sink into chaos.

from TheFreemarketman & The Independent Institute

John Maynard Keynes was a member of the British delegation to the peace negotiations at Versailles after World War I. He was disgusted by the Allies’ vindictive, grasping, and short-sighted actions at the conference, and he dashed off a book to denounce those actions and to explain why he thought the treaty would give rise to a plethora of troubles, as indeed it did. His book, The Economic Consequences of the Peace (1919), is still well worth reading today for its vivid character sketches, its recitation of key facts, and its penetrating political and economic insights.

Along the way, Keynes digressed to discuss why the European governments’ inflation of their money stocks during and after the war portended grave consequences. Although Keynes is not ordinarily cited as a strong anti-inflationist–indeed in important ways, his later views helped to create a well-nigh inevitably inflationary system of government macroeconomic interventionism–I know of no stronger statement against inflation than the one he expressed on pp. 235-36 of his book. It reads as follows:

“Lenin is said to have declared that the best way to destroy the Capitalist System was to debauch the currency. By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens. By this method they not only confiscate, but they confiscate arbitrarily; and, while the process impoverishes many, it actually enriches some. The sight of this arbitrary rearrangement of riches strikes not only at security, but at confidence in the equity of the existing distribution of wealth. Those to whom the system brings windfalls, beyond their deserts and even beyond their expectations or desires, become ‘profiteers,’ who are the object of the hatred of the bourgeoisie, whom the inflationism has impoverished, not less than of the proletariat. As the inflation proceeds and the real value of the currency fluctuates wildly from month to month, all permanent relations between debtors and creditors, which form the ultimate foundation of capitalism, become so utterly disordered as to be almost meaningless; and the process of wealth-getting degenerates into a gamble and a lottery.”

Lenin was certainly right. There is no subtler, no surer means of overturning the existing basis of society than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and does it in a manner which not one man in a million is able to diagnose.”

Add-on for AUD/USD!

I will only use half my normal Pos Size (1%) and add the other half after the Aussie climbs above 1.9500! (If there is an retracement as I wrote in my last post.)

This heavy Resistance could hold as it already held on the 28^th of February.

But my Longterm view is that the Aussie will reach parity with the Us Dollar!

I Will long the AUD/USD  since the Q1 CPI was 1.3% against 1% expected..

Those Inflationary pressures should force the Central Bank of Australia to leave their rates unchanged at the next meeting (may the 6^th),while the US Fed is believed to cut their rates by 0.25%.

So AUD/USD should be an nice longterm play imho! Maybe if the inflationary pressures remain high ,Australia’s Central Bank will even hike rates.

We will see..for now i am waiting for an retracement from the actual 1H bar (on profit-taking by the news traders) and will enter my long then..

Also the AUD/JPY looks good ,if the actual 4H bar can close above 98.00!

Will keep ya updated!

Now to the charts:

AUD/USD 1H Chart (right after the news):

AUD/JPY 4H Chart /right after the news):