RBA Statement on Monetary Policy

I hope you and the other sellers have your fingers crossed! Purely from a technical standpoint the Aussie has a higher probability of reaching .8000-.8050 right now than it does .7700. I've been on the sidelines since Tuesday.

On the technical side, we had over a 200pip daily bullish pinbar on Tuesday, price hasn't even touched .7700 since then(market makers trapped a lot of people short), price barely dipped below .7750, price has done nothing but steadily climb on the 1hr chart since BAD Aussie news Tuesday&Wednesday(higher lows), and there is a picture perfect inverted Head$Shoulders pattern on the 4hr chart.

All bets are off with the NFP, but I won't be surprised one bit if Aussie keeps going higher. I won't be trading today...instead I'll be waiting to see where price finishes today to see if the downtrend is over for now or not.

Trade smart guys, don't blow you're accounts!

Still too early to tell, but Ausie couldn't even close below .7800 on that 15min candle. And price rallied nearly 70pips after the spike down! Looks like the 1hr candle is going to close above .7800 too.

Then there is the important .7750 level price couldn't close below all week long. Follow that by the .7700 levels price hasn't even gone below since Tuesday. If price can't close below those levels today, then I'm going bullish Aussie next week!

Cheers!

Sorry midtosh, I sent it a little to early.... I was going to wait until later today to post it.

None the less...my views are the same. Unless Aussie can clear .7750 and close below .7700 then my bias is going to change to longs. Right now price can't even stay below .7800.

Cheers!

Yeah, I was going to repost this afternoon...but you already did. lol.

Have a good weekend!

I'm pretty neural on Aussie now after Fridays close. It's still hanging around .7800 and consolidating roughly between .7750-.7850. Buy near the lows of the range and sell near the highs. Looking for price to close below .7700 for confirmation of downtrend continuation. If not, I still think .8000 area is the initial to side target.

sell sell sell

If the inverted head&shoulders pattern plays out... .8000-50 could be the target.

Price would first have to close below .7750 and then .7700 for any further selling.

Why delay the cut ?

USDX is out of breadth. AU .81 is possible. But first look at CNY data.

PM leadership crisis will bring down AUS

Where this post has just disappeared??!?!

Thanks PA! so you did redraw the post? I thought that FF did! I was like..WTF!
Anyway, I'm with you technically speaking, namely Inv_1H_H&S, Daily Pin Bar, Dark cloud cover on the USDX... and much more all screaming out indeed!

Have a nice weekend!

but b4 it brings down and if some body is long then sure to get screwed

What I think is that we begin to witness a strong movement to weaken the USD. Even more than the US has shown deficit in its trade balance. If we have an increase in US interest rates, it is necessary that the USD is depreciated in order to absorb the impact.

why buy?

buy the deep? or sell the top?

NO guidance given - lame

short covering is more the point - wait for non farms.

BUY AUD

aud should move up with this.

exaggerated value of AUD...just for speculative reason jumped that much...

losed

dovish statement