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AUD/USD

after taking 6 trades I'm done see you tomorrow all! Good trading today with $200 profit
Quoting iwillwait
after taking 6 trades I'm done see you tomorrow all! Good trading today with $200 profit
Congrats there!

On a side note, i feel that the selling been over-extended for a long time. Isn't it high time a correction is due? Am not sure, but i feel that a correction is due soon. Watch the monthly close for confirmation of a bounce or more bloodbath (green pips if we gonna short it).
Tomorrow is RBA rate decision, a very good chance they will hold rates so AUD/USD is a good buy at the moment & will add more if it drops.
Quoting Vorex
Tomorrow is RBA rate decision, a very good chance they will hold rates so AUD/USD is a good buy at the moment & will add more if it drops.
Agreed.
I rarely trade FX, but couldn't resist a long entry at 0.7127. TP @ 0.7180. I think it can probably hit 0.7200 pretty easily by tomorrow.
triangle
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Everything working against the Ozzie at the moment. Gold drifting lower, Euro equities down, US equities set to open down, fellow commodity currency Kiwi business confidence way down. Rate decision later against a backdrop of overall global uncertainty.

Personally I don't think there will be any rate change and I don't think smart money expects any rate change either. No expectation, maybe not a huge reaction later today. Of course, we have all seen some wild stuff happy lately.

Anyways, at the moment Ozzie testing MS1 at roughly 7110 which I think is a good entry point for a long. I expect a bounce here. Any US equity strength after the opening bell should give the Ozzie a much needed boost later (may be wishful thinking though)

Good start to an exciting week ahead, greens pips to all
"Pride always comes before destruction...." -Proverbs 16:18
Quoting Expo33
Everything working against the Ozzie at the moment. Gold drifting lower, Euro equities down, US equities set to open down, fellow commodity currency Kiwi business confidence way down. Rate decision later against a backdrop of overall global uncertainty. Personally I don't think there will be any rate change and I don't think smart money expects any rate change either. No expectation, maybe not a huge reaction later today. Of course, we have all seen some wild stuff happy lately. Anyways, at the moment Ozzie testing MS1 at roughly 7110 which I think...

I shall wait for a good long signal b4 i enter. Indeed, many wild stuff and swings lately. Trade safe !
Quoting SkyrEk
{quote} I shall wait for a good long signal b4 i enter. Indeed, many wild stuff and swings lately. Trade safe !
Good Luck.

I am long @7111 with the intention of taking 20-30 pips, don't want to be in this trade for more than a few hours. Hopefully get a little bounce and move SL to BE for a freebie
"Pride always comes before destruction...." -Proverbs 16:18
Quoting SkyrEk
{quote} Congrats there! On a side note, i feel that the selling been over-extended for a long time. Isn't it high time a correction is due? Am not sure, but i feel that a correction is due soon. Watch the monthly close for confirmation of a bounce or more bloodbath (green pips if we gonna short it).
The monthly close below the trendline. That is to say bearish.
Remember that fundamentally and technically, Aussie is bearish.
The true fact is market doesn't care, risk mgt is important.
why buy guys follow the trend
i am also looking in 0.7220
In long term go up quick.

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Enter Signature
Hope to see a nice bounce up today for some quick pips.....
Quoting Lionheartfx1
Hope to see a nice bounce up today for some quick pips.....
im not going higher than that
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Quoting Lamira
{quote} im not going higher than that {image}
However, the short squeeze looks almighty currently. Next strong resistance at .725
Quoting Lamira
{quote} im not going higher than that {image}


0.7220 is the next one then start to getting a great down trend
Too early to tell, but could this be a possible double bottom?
Notice that the markets are showing who is boss by neglecting negative news and data releases. Hence, we should go with the flow instead, follow the new found trend of AUD.

Note: It could be corrective though, not a trade whereby you can long and just leave it for months. If you are keen on buying, then it is best to monitor it with tight SL. Never know what will happen with the recent wild swings.
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Quoting SkyrEk
Too early to tell, but could this be a possible double bottom? Notice that the markets are showing who is boss by neglecting negative news and data releases. Hence, we should go with the flow instead, follow the new found trend of AUD. Note: It could be corrective though, not a trade whereby you can long and just leave it for months. If you are keen on buying, then it is best to monitor it with tight SL. Never know what will happen with the recent wild swings. {image}
I agree, I was long since 0.70855 and just playing the bounce and taking quick pips. Might drop down but these things never give up without a fight and always retrace a bit before a big drop.

Long term is a definitely a no go for this trade but for scalping its a no brainer trade. Easy profits in and out just be careful with tight sl as you said.

However seeing it has dropped a shitload past few months and year I doubt it will go down that much....time for a correction soon.

But we will see being RBA in the next few hrs where it will push this
There are huge fundamentals at play with the AUD at the moment people dont forget that. The trend is down and its going furthur. Ride the ups but its a shorting market.
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