AUD/USD

http://www.dowjoneswebservices.com/chart/view/6526

December 17. / Dow Jones /. Australian dollar downtrend on Tuesday received a fresh impetus after the publication of minutes of the last meeting of the Reserve Bank of Australia / RBA / . It is expected that in 2014 the Australian dollar will suffer new losses .

In 2013, the Australian dollar has undergone a dramatic decline, losing 12% against a basket of major currencies against the U.S. dollar fell to 1.0394 in the early years to the current level of 0.8929 .

But these losses are not satisfied with the RBA , who wants a weaker currency to help national exporters.

In November Managing RBA Governor Glenn Stevens hinted that the central bank is considering direct sales Australian dollar , which will be the first intervention of the global financial crisis .

A December meeting minutes showed that the door for easing monetary policy and new reduced rates is wide open , despite a decision by the RBA this time not to cut rates to historic lows of 2.5%.

The minutes recorded , it is expected that economic growth in 2014 will be lower than average and that a weaker Australian dollar to achieve balanced growth.

But how far it could fall ?

Judging by the chart of the Australian dollar / U.S. dollar, the reaction low at 0.8848 in August 2013 may well be under pressure, and steam could reach the minimum 0.8150 , which is displayed on a logarithmic out the monthly schedule.

http://www.dowjoneswebservices.com/chart/view/6526

With the fall of the pair below 0.9850 in May completed the formation of 22 -month figures pennant , and the peak in October will be a significant 0.9758 lower high on a break below 0.8848 .

Structure of the wave decline from the peak in October .9758 divergent , indicating that space to go down to 0.8650 in the short term .

Next on the way - the middle point of the growth wave 0,6010-1,1083 observed from October 2008 to July 2011 . It is located on the arithmetic chart at 0.8550 . On a logarithmic graph , this corresponds to the level of 0.8150 .

This target is downward projection derived from figures pennant . He can be reached on a break below 0.8550 and then 0.8350 .

8917 sell

I have a feeling given the past occasions that when Glen starts talking Aussie is going to plummet due to his earlier thoughts on australian currency being overvalued

Breaking News
Glenn Stevens farted during an important speech. Therefore, traders began to actively sell Australian Dollar)

or Breaking News
Glenn Stevens - confessed to the whole world that he is gay. so blue traders began to buy the Australian dollar.

http://www.macrobusiness.com.au/2013...ake-us-poorer/

OUCH.....

The perks of being metador, ouch indeed

Thanks for the read buddy.

HITMAN ))

17-Dec-2013 22:35 - RBA GOV STEVENS SAYS A$ STILL UNCOMFORTABLY HIGH
17-Dec-2013 22:35 - RBA'S STEVENS SAYS CHINA IS GROWING AT A SOLID PACE
17-Dec-2013 22:35 - RBA GOV STEVENS SAYS A$ HAS BEHAVED MORE AS EXPECTED RECENTLY
17-Dec-2013 22:36 - RBA GOV STEVENS SAYS HAS OPEN MIND ON WHETHER TO CUT RATES FURTHER
17-Dec-2013 22:36 - RBA'S STEVENS SAYS SEES BELOW TREND GROWTH, SUBDUED GROWTH IN PRIVATE SECTOR DEMAND
17-Dec-2013 22:36 - RBA GOV STEVENS: BUTFEW SERIOUS CLAIMS THAT COST OF BORROWING HOLDING BACK GROWTH
17-Dec-2013 22:36 - RBA'S STEVENS SAYS VERY LARGE RUN UP IN MINING INVESTMENT HAS PEAKED
17-Dec-2013 22:37 - RBA'S STEVENS SAYS DWELLING INVESTMENT SPENDING IS ONLY IN EARLY STAGES OF UPTURN
17-Dec-2013 22:37 - RBA GOV STEVENS: MONETARY POLICY IS SUPPORTING SPENDING
17-Dec-2013 22:37 - RBA'S STEVENS SAYS INFLATION HAS REMAINED CONSISTENT WITH 2-3 PCT TARGET
17-Dec-2013 22:37 - RBA GOV STEVENS: MONETARY POLICTY CANT FORCE SPENDING AND INVESTING, UP TO CONFIDENCE

So we are putting money into a trade because we want to know how the market is going to go ?

sorry kinda confused. isnt this good for shorts? or am i wrong because im seeing a sudden spike up

You shouldn't trust banksters.

First real signs that Stevens Jaw is getting tired.

keeping an open mind about int rates reads to me they are on the turn .

but that's just me .

What I do know is that

-Aud coming into support
-Aud reached it's full extension from the highs
-Aud headline news comes out in a day

I also know that I planned on taking this trade 3 days ago.
I also know that b/c it's not going to be perfect, not the best setup / scenario, so i have to reduce my size
I also know that it's likely traders will reposition before news, which creates slightly more volatility.
I also know I will close out my position before announcement, so this is a intraday opportunity.

most of all... i know my risk, and i'm comfortable with it, risking only 1/3 of my regular tier size.

It's a mediocre play in my book... but worth a shot.

I'm not expecting a V bottom, but merely a retracement, how big... i'll leave it to the market to decide. I have my targets, but if it doesn't get there before i leave office, I will trail my stops accordingly.

Hope that clears any confusion.

GL