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  • Statement by Glenn Stevens, Governor: Monetary Policy Decision

    From rba.gov.au

    At its meeting today, the Board decided to leave the cash rate unchanged at 2.5 per cent. Growth in the global economy is continuing at a moderate pace. China's growth remains generally in line with policymakers' objectives, with weakening property markets a challenge in the near term. Commodity prices in historical terms remain high, but some of those important to Australia have declined this year. Financial conditions overall remain very accommodative. Long-term interest rates and risk spreads remain very low. Volatility in many financial prices is currently unusually low. Markets appear to be attaching a very low ... (full story)

Nothing to see here, move along.
do we start to go long now mr pa?
  •  Guest
  • | IP XXX.XXX.232.190
On my way to my trading desk. Going to start pressing on my shorts. China is slowing down and wont catch up the USA in the next century. Going to put some serious pressure on AU exports and then know it. When i say shorts i mean AUD USD to be clear. Best of luck whatever you do. A London Trader
Don't know about PA, but I was hoping for a bigger retracement to enter longs... oh well
I am waiting for .9220 to go long
Quoting abhirag
I am waiting for .9220 to go long
If 0.9270 is breached then 0.9185 is the target
Quoting Guest
On my way to my trading desk. Going to start pressing on my shorts. China is slowing down and wont catch up the USA in the next century. Going to put some serious pressure on AU exports and then know it. When i say shorts i mean AUD USD to be clear. Best of luck whatever you do. A London Trader
Its the same with NZDUSD, I would just stay short!
All posts are my personal opinion
Quoting kabukyboy
do we start to go long now mr pa?

Hard to say at the moment. A/U has been acting a little funny to start the week. I actually skipped trading all together and avoided the news during Asian and early London sessions.

It does seem that price has found support at the .9285 area for the past few hours now though. Which happens to be the Daily 200ma. This is just above the same area of support A/U found last week, Aug. 26th, when it bounced off the .9270 level. One could try a long here with a stop around .9270ish. My trading style I try to keep my losses to 15-20pips and look for 30-50pips profit. A/U has moved 50pips already today, that seems to be it's normal daily range lately. Although earlier in the year it use to move around 100pips a day on average. Just remember, only trade what you can afford to lose because nothing is 100% when trading forex!

If a trader were to go long...price would need to get above .9305 in the next couple of hours or I'd be looking to exit for a small proift/loss.

Whatever you choose, Trade Smart! I'm going to pass at the moment. I'd like to see what happens during US session...I think we may actually get a lower price to enter long on. Ideally I'd like to see .9220-30 level for a long entry. But I don't think it will make it there, so if price finds support around .9250, that would be my second best entry area which would give the trade room to go back up 30-50pips to rest .9280-.9300 areas. And if we don't get a pullback, then I just missed this trade and will have to wait for another setup. Cheers!
perhaps i'm gonna wait @ .926 to go long..
now i'm shorting
Looks like we are done selling for today, long at .9278 with a tight stop under lows of the day.
thanks guys
don't find the correct answer in market. just feel it and follow the wave.
Quoting PA is King
Looks like we are done selling for today, long at .9278 with a tight stop under lows of the day.

Well, it doesn't get much easier than that!!! 50pips in my pocket! You just can't go wrong Buying Dips on Aussie!!!
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