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AUD/USD

US June trade deficit $49 bln, highest since Oct 2008
Morning all. SL set to BE + 35. Lower highs, lower lows..I still think we have a ways to go down...Hope I don't get stopped out on a mere retrace..looking to TP around .8900:
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dow triple digit selloff off at the open

http://money.cnn.com/2010/08/11/mark...york/index.htm
nadaq 2.5% down dow 2% down
Quoting cvarnado
Who is trading in here!
I think AUD still down until 21 August 2010
thank
might TP at .8975 - we may get a retrace there. any signs of reversal and ill close my shorts
Quoting Phonetic
might TP at .8975 - we may get a retrace there. any signs of reversal and ill close my shorts
ok, I lied, just closed shorts. we may see some retrace here. if not...then i'll have left some on the table. +101 pips not bad

This is why I just closed my shorts (and opened a small short with 25 pip stop on USD/CHF):
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Quoting chairul
I think AUD still down until 21 August 2010
thank
21st you mean cuz of the elections?
I have no enemy; I make Incautiousness my Enemy.
(Japan, JPY) Govt to survey firms about effect of rising yen
Japan's government will conduct an urgent survey to determine how the rising yen is affecting Japanese companies.

Industry minister Masayuki Naoshima told reporters on Wednesday that the yen appreciation could have a huge impact on Japan's economy.

On the Tokyo foreign exchange market on Wednesday, the dollar at one point fell below 85 yen, a new low for this year.

Naoshima says the nationwide survey will cover about 200 companies, including large manufacturers and non-manufacturers, as well as small and mid-sized firms.

The survey will be used to examine the impact of a higher yen on corporate management and possible measures to be taken.

The government plans to report the results of the survey this month.

Naoshima says the government wants to take measures to stabilize the currency market in cooperation with the Bank of Japan.
2010/08/11 22:47(JST)
nhk.or.jp/daily/english/11_31.html
I have no enemy; I make Incautiousness my Enemy.
Hi. I think we completed the corrective ABC I talked in my last post (ending wave 2) and might have started the major wave 3 down.

Momentum almost negative (last time it turned negative prices fell around 12%). This time I think we might get a bigger wave because normaly wave 3 is the biggest one.

Almost shorting it for the mid term.

Cheers

PS: Feel free to see my blog for the trades.

MarketInvestor
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  • Post #22,611
  • Quote
  • Edited Aug 12, 2010 2:39am Aug 11, 2010 1:26pm | Edited Aug 12, 2010 2:39am
  •  Oz4x
  • | Joined Oct 2009 | Status: "Everybody Wants Some!" - Roth | 76 Posts
http://www.abc.net.au/tv/bigideas/st...10/2977548.htm

Don't post that often due to other committments but been here for a little while.. this is Prof Joseph Stiglitz's speech at the University of Queensland....

Visiting Nobel Laureate and global economist, Professor Joseph Stiglitz, believes Australia's good fortune in being sheltered from the worst of the GFC means we may not fully comprehend its impact internationally.

Just watched this speech on TV whilst watching with interest the AUD decline this week..

oh and btw still short from Friday @0.92117 and have added a couple more as marked.. taking partial TPs at marked S/R's.. taken 1/3 and stops now at B/E.

Good trading all.. - Oz
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Quoting chairul
I think AUD still down until 21 August 2010
thank
That's right.
we have 61%fib @8900 (9430H:8070L)

which almost matches a break low at 8895 (23JUL10)
100dma at 8852.

JPY weakening with news of possible Govt intervention which supports AUD and NZD.

Time to cut my shorts.
I have no enemy; I make Incautiousness my Enemy.
Quoting learntowin
Maybe its time to consider Selling AUD / USD for ST Pull Back


Try 1 Short @ 0.9135

Booked profit @ 0.8955 for 180 pips

Stay out and wait to Sell on Rally again
Quoting XTrade
Looking for test of .9300

Then re-assess goals.

No one in this camp?
Near to your Target
Nice call for the Top Sir
  •  Oz4x
  • | Joined Oct 2009 | Status: "Everybody Wants Some!" - Roth | 76 Posts
Quoting learntowin
Booked profit @ 0.8955 for 180 pips

Stay out and wait to Sell on Rally again


closed 3rd lot @ .8950.. moved last 1/4 stops to just above 0.9000, the market will do what it wants and I'll look for more opportunities tomorrow - 12.45am here.

Nice ride since Friday (0.92117), got burnt for most of last week.. lesson learnt.

Live to fight another day.. happy days.

Good luck all.
gone short at .8954 with tight SL (probably shouldn't because its friday, but do have the tight SL just incase):
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  •  Oz4x
  • | Joined Oct 2009 | Status: "Everybody Wants Some!" - Roth | 76 Posts
Quoting Phonetic
gone short at .8954 with tight SL (probably shouldn't because its friday, but do have the tight SL just incase):
Your .8954 was spot on with my break..

Tight stops were the order of the day though.. had mine just above 90 again..
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usd is getting weaker, long aussie might be good long term trade.
Quoting Geelong_Cats
usd is getting weaker, long aussie might be good long term trade.
Well don't know if this can be called weak my friend.
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