Australian Dollar: Trading FX Currency Futures
Australian Dollar Explained
Australian dollar futures traders can manage the risks associated with currency rate fluctuation and take advantage of profit opportunities stemming from changes in Australian dollar rates. The Australian dollar replaced the Australian Pound 1966. Australian dollar futures contracts began trading in 1987.
Aussie Dollar Rates & Trading Price
The contract’s size is 100,000 Australian dollars per contract. Trading occurs in $.0001 per Australian dollar increments, or $10.00 per contract. Australian dollar futures trading may also occur in $.00005 per Australian dollar contract increments, or $5.00 per contract. Australian dollar FX futures trade in six months in the quarterly cycle of March, June, September, and December.
Australian Dollar & Futures Trading Software
Having the right tool for the job is critical. Ask any Australian dollar futures trader what trading tools or types of financial analysis he is using and you’re probably going to hear , Fibonacci, MacD, moving averages, etc. Trading software can be used to augment an existing approach by supplying a broadened perspective. The key to a Australian trading system is its ability to forecast moving averages! One of the better software products is VantagePoint trading software that will help to “see” what is likely to happen in the market that you are trading before other traders (using only single-market analysis) catch wind of it. Frequently the crossover indicator flashes an “early warning” that the Australian Dollar trading market is likely to make a top or bottom – before it actually happens!