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AUD/USD

long at 1.0500 target 1.0577.
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1.0533 resistance
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Took a look at the daily AUDUSD chart. The daily MACD just crossed above the zero level. This confirms the current upside momentum and perhaps the continuation. The daily Stochastic has also passed the signal line (50) also favouring the current bullish move.

However there seems to be some resistance at 1.0530, so if we can break that, I still have my target set for 1.0590. Support is at 1.0475.

Good luck all

Things might change after (Federal Open Market Committee) meeting.Started at 9am today
I sort of suspect positive news for greenbacks
"Let winners run and cut losers quickly" a cliche but 100% true
My guess: up to 570-590. Then correction.

Time will tell.
Use me as a contrarian indicator :p
Thought I'd drop a quick post on this thread given that I pretty only much trade AUDUSD - 15M, 1H, 4H and Daily.

I've been following a triangle formation on the weekly charts, which was broken through yesterday - caught me out on that one. I'm thinking we may see some correction soon though.

I was going to ask - a lot of my trader mates say that AUDUSD is bad for trading with technicals... any thoughts on this?
Quoting Ras al Ghul
Thought I'd drop a quick post on this thread given that I pretty only much trade AUDUSD - 15M, 1H, 4H and Daily. I've been following a triangle formation on the weekly charts, which was broken through yesterday - caught me out on that one. I'm thinking we may see some correction soon though. I was going to ask - a lot of my trader mates say that AUDUSD is bad for trading with technicals... any thoughts on this?
Hi Ras, I think A/U is one of the good pairs for trading technicals. It's pretty smooth on hourly and above IMO. I was long from 1.042 and just got stopped out at 1.0530. I'm now short at 1.0525 after the bad figures came out.
Good luck
Trade YOUR plan.
Anybody straddle the AUD announcements??? Short aud/usd, short aud/jpy, short aud/nzd, short aud/cad and buy gbp/aud, eur/aud. So far looks good, let's watch the next hours of movement and see if the technicals will take control again or will keep following the negative news.
Morning guys

My long from 1.0370 was stopped out at 1.0523. Looks like the negative news coupled with a correction has moved the pair lower. Resistance is 1.0543, so if it takes that out we could see a move to 1.0590. Support is at 1.0501. For now it looks as if the technicals are in more control than the fundamentals.

Good luck to all
How this can rise even after weak data?? I am clueless!
Quoting namitak007
How this can rise even after weak data?? I am clueless!
It dropped 40 pips on the release. Aussie is a better holding with yield then let's say...the euro
The whole world is simply nothing more than a flow chart for capital.
Taking out stops above the days highs. Must have been a few of them. It will come down just may take some time. I think it is the worst unemployment result in 3 years, correct me if i am wrong. Might see 10600 the way it is going. I am short and will load up some more if it gets there.
4 up days in a row
big move
212 pips

world economy background - weak

central bank liquidity - record highs...

averaging 52pips a day...

i conclude the reason for the move, and the S&P500 move remain the same - immense central bank liquidity in the context of weakening global economies.

surely theres a tipping point...already well over the long term valuation.
Took a short a 1.0577, TP 1.0490 SL 1.0620 due to resistance and a possible correction.
Bought AUDUSD at 1.0525 closed 50 pips
probably hang onto my long trade on this pair. Though it already hit the target
profit, still gonna wait for a reversal or continuation on the long trade.

Danny
Despite worse than expected employment number where an instant sell of occurred, the AUD/USD is looking stronger later on in the day.
www dot corporateforex dot wordpress dot com
can anybody tell me why it's still not dropping? No news from china, NZ, AU and still it's above 1.055!!
short 553
"Let winners run and cut losers quickly" a cliche but 100% true
nice 18 pip drop.
"Let winners run and cut losers quickly" a cliche but 100% true
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