DislikedDon't take too much notice of oversold extremes especially in weekly as it can remain there for a long time in these markets....Ignored
DislikedThinking .937 myselfIgnored
DislikedAgree. Last nights bounce before the US data releases was as poor a dead cat bounce as we've seen for a while. It will take a fairly strong change in sentiment in the USD and a strong bounce in commodity prices for the AUD to recover beyond 0.98 from here,
That said I think progress lower from here may be a little slow, as the AUD is showing characteristics similar to the recent JPY run, namely taking time and shallow rallies to unwind oversold positions rather than strong price retracements. Either way its going lower.Ignored
DislikedI am glad someone understands me lol. I have mentioned to people that currencies will bounce a little or stay flat to shake off overextended territory. Whether it's to .97 or .98, slow or violent, I won't change my outlook until fundamentals and sentiment change. Similar with overextended euro positions when traders get all excited over short squeezes. It's just mean reversion. Short squeezes by them self are not sentiment changers.
DislikedNot very long ago there was talk of the AUD/USD going to 1.10, that seems a little silly at the moment.
I was going to see if tonight's news would move the AUD down some but it looks like that already has happened, guess I'll look for something else to do.Ignored
DislikedHello everybody! Can you pls advise if it is not too late to go short on aussie/usd? If not, then what should be TP and SL ?Ignored
DislikedI went short with aim of 0.95 but what should be SL ? 0.966 is ok?Ignored
Dislikednot sure, the choice/risk is on your hand,
but i think that the closer previous low is 0.9525(2011 oct) something, after it break this 1 could probably go more lower........just now the retest also stop before 0.9525
but strongly believe that it going to break this in few days,
i believe the big crap have take profit.........they want more profit
DislikedUSD sell off, and we had spike on AUDUSD on daily basis. Last 4th and last week of selling. Check last 3 years history on 1W charts (all huge sell offs).
Start carefully buying dips.Ignored