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  • AUDUSD: Could We See a Pre-NFP Bounce to .7700?

    From forex.com

    While US economic data broadly deteriorated through Q1, the lone bright spot was the labor market. Through the first three months of the year, US Non-Farm Payrolls increased by a whopping 863k jobs, while other measures of economic activity including PMI surveys, retail sales, durable goods orders and inflation readings have all turned lower. After today’s weaker-than-anticipated ADP employment report (189k vs. 227k eyed), traders are starting to worry that the last “leg” of the United States’ economic outperformance “stool” is starting to crack, and the US dollar is trading a tick lower early in ... (full story)

  •  Guest
  • | IP XXX.XXX.253.51
Lets not forget AUD rate cut insight
I didn't see the calendar for aussie to cut rate before NFP. Can RBA cut rate anytime? Won't Steven become apathetic again about currency rate?
If Aussie couldn't go up today after good Aussie & China news and Bad US news...then it ain't going up anytime soon. Perhaps a spike on Friday...but only Perhaps.
I see AU try to defend .7600 and .7580.
This is my view and I could be totally wrong............The a/u is in a difficult situation. The RBA want it lower to help the Australian economy, but there seems to be support at the .7580 level. Today is the last trading day here in Australia due to the Easter long w/end and the markets will not open until Tuesday when the RBA has its interest rate decision so I cannot see too much action other than closing of existing trades as we also have US employment and unemployment news out on Friday. Using my crystal ball, I can see a good size spike up which I will fade alternatively I will do the same on a down spike. As a guess the high of the spike will be around .7675 and the low at .7555 or lower. These spikes will be made by the MMs hunting the stops.
Quoting PA is King
If Aussie couldn't go up today after good Aussie & China news and Bad US news...then it ain't going up anytime soon. Perhaps a spike on Friday...but only Perhaps.

looking for the spike happy Easter to you PA
ONE MUST LEARN, DO IT AND IT WILL BE KIND TO YOU
  •  Guest
  • | IP XX.XXX.159.231
Things stay deceptive with price positioning in the Aussie - but longer term (i.e. longer than day trading considerations would normally inform) it is not at all clear whether or not the it will not break north along with the euro and cable. It is not unreasonable at this stage to look for signs of such a trend.

The Crow (-_-)
Quoting Aussi
looking for the spike happy Easter to you PA
Happy Easter to you too!!!

Still have to get through Thursday, which it already starting out with selling and new lows!

Cheers!
Quoting Aussi
looking for the spike happy Easter to you PA
100% agree with you.

I also feel that the RBA won't lower interest rates. WHY would they? There is no compelling reason to do so.
SNB also likely to move again soon. Mirror image to AUD on buy side. SNB will come under further pressure if NFPs disappoints. Greece not resolved (more delay) so markets see EUR upside due to better eco numbers. Commodity prices weak but weight of money pushing equities higher. Confused? You'd better be. CHF the place to be (unless they intervene). Technicals only help short term but maybe not in these conditions ahead of a very long week-end. Golf anyone?
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  • Story Stats
  • Posted: Apr 1, 2015 11:17am
  • Submitted by:
     Newsstand
    Category: Technical Analysis
    Comments: 10  /  Views: 3,255