If not levels i will be very interested to see what happens
0.7580
0.7450
GL
0.7580
0.7450
GL
AUDUSD/AUDCHF/NZDJPY basket trading using 50 sma and 200 sma 16 replies
Pit Traders - How Do We Classify Their Trading Style? 6 replies
Disliked{quote} my opinion it could be trap for the buy on aud better out and wait to where it heads , sell trap well I guess what goes up must come down even for the retraceIgnored
Disliked{quote} Hi Tashkent I am bearish on AU fundamentally Australia and Aussie dollar are at risk with commodity price drop.China Japan slowing down.Don't see much up from here unless something profound changes. Unemployment numbers published today are not true reflection of economy and it is much higher. Could be one of those nice drops after all retails tag their longs becoming big bull trap. regardsIgnored
Disliked{quote} Hi Davit, i am also thinking the same. China and Japan are the 2 major trading partners (combined around 50% of total australian exports). it is just matter of time when the troubles these 2 countries are having will affect their major partners or countries who are economically interconnected. one of the things to watch now is commodity prices, especially metals. from tech point of view the up trend looks healthy and strong now. bull was almost brought to its knees but fomc saved the day and now i think there is nothing can stop the bull...Ignored
Dislikedpotential area to initiate short trade in AU is around MR3 on H4 chart. This trade would have to be confirmed/timed with brent/copper price reversal, currently commods are still trading higher, therefore AU still got steam to push further, however rally is overextended big-time and can tumble any moment. {image}Ignored
Disliked{quote} GM T I suggest using my pivot.Great tool showing key zones 61 78 100 R/S from weekly pivot Notice rejection by 78R Most traders are unaware of 78.6Fib which is square root of 618.This was "discovered" by Scott Carney a harmonic master. regards {image} {file}Ignored
DislikedI've been doing a bit of research into the rise in the iron ore price, which has risen appx. 29% this year, and is a major contributor to Australia's economy, and as other members here have noted the AUD/USD price has a close correlation to it. I've found a number of articles printed in the last few weeks, and will attach links here to three. The general consensus is that the rise is expected to be very short term, and is due to the fact that there is currently a rebound in China's housing market, which is expected to last through the first half...Ignored
Disliked{quote} Great post. This is what I love about fx trading, being aware, and research of underlying economic conditions that effect the market. I watched an interview a week or so ago on bloomberg about the short term Chinese stimulus and the temporary demand on steel, for Government projects. My prediction for the aussie is the monthly to close at .73000. We have 9 trading days left lets see how it goes.Ignored
Disliked{quote} Heavy short on Aussie both AU and AN Will hold for 38S 1st.Major structure there (yellow box) Its unlikely to go lower by the end of the month. {image}Ignored
Disliked{quote} Great post. This is what I love about fx trading, being aware, and research of underlying economic conditions that effect the market. I watched an interview a week or so ago on bloomberg about the short term Chinese stimulus and the temporary demand on steel, for Government projects. My prediction for the aussie is the monthly to close at .73000. We have 9 trading days left lets see how it goes.Ignored
Disliked{quote} It already did but now its recovering.Next in line is Aussie rate cut which is coming.Last thing RBA wants is having strongest currency in the region on expense of fragile economy. They want Aussie at .65 so 76 is overkill. Please look at the chart since rate spike it already dropped 153pips!Ignored
Disliked{quote} it is a pullback not a correction. fibonnaci drawn on the weekly charts. see where it has picked support. 61.8% retracement. the upmove is still on and it depends more so on the kiwi than the aussie. kiwi is a tumbling currency and its prospects are much worse than aussie. it heavily depends on china and china stock markets has more or less peaked out. {image}Ignored
Disliked{quote} Well you don't know if its pull back or correction.What starts as pull back become full fledg swing and trend reversal. Check out UC to get an idea. Look it does not matter if you agree or disagree I have 8positions shorting this so should not matter to you.Ignored
Disliked{quote} it is a pullback not a correction. fibonnaci drawn on the weekly charts. see where it has picked support. 61.8% retracement. the upmove is still on and it depends more so on the kiwi than the aussie. kiwi is a tumbling currency and its prospects are much worse than aussie. it heavily depends on china and china stock markets has more or less peaked out. {image}Ignored