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AUD/USD

AUD is definitely losing some momentum

I'll be looking for a short entry point in the 0,78 - 0,80 area
Have not been around for a while since some wanka made some comments but I have been following you and doing well for a new trader. I have made a few dollars USD and now an worried about keeping it. I believe you are correct and will go short when you tell 95ford to go short.

My wife bought a new Honda Civic last week tough times but thank to you..
  • Post #1,383
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  • Edited May 23, 2009 6:27am May 22, 2009 9:14pm | Edited May 23, 2009 6:27am
Quoting 95ford
Have not been around for a while since some wanka made some comments but I have been following you and doing well for a new trader. I have made a few dollars USD and now an worried about keeping it. I believe you are correct and will go short when you tell 95ford to go short.

My wife bought a new Honda Civic last week tough times but thank to you..

too good too good from you, I am just trying to learn from everyone and share ideas on this forum

yesterday I went short with a first lot at 0,7855.
I believe from here to 0,8 is a good chance to build a short position, and one should be rewarded on June - July.

Technically speaking now AUD is fighting in the 0,785 - 0,787 area.
On the upside, next level to watch is 0,7930 followed by 0,7996. On these levels I would add more shorts and protect them with a stop above 0,8.

The bullish tone is still on as long as 0,77 / 0,7713 holds.

In case of further uptrend above 0,8, we could go long with a target of 0,818.

Last but not least, I suggest to be anyway careful playing shorts on this market and use tight stops cause I suspect there could be a last strong upmove to trap shorts, so trade safely even if this is the kind of market where stop losses are easy to be hit....
It seems clear though that Aussie is not acting as a faster Euro anymore, and once optimism fades away, could be one of the best shorts to play.Moreover, AUD is very exposed to equities and commodities, that might have another last rally before taking a pause...
Quoting fammira
too good too good from you, I am just trying to learn from everyone and share ideas on this forum

.Moreover, AUD is very exposed to equities and commodities, that might have another last rally before taking a pause...

Makes sense to me that the AUD will continue to outperform to the upside given the dollar has seen its day, besides the commodities market will fuel higher gains and that Australia is tied to the hip to China, which should come out of the recession before anyone is a feather in Australia cap. Certainly there will be a correction but all indicators are up unless of course this pair is tied to the S&P like the AUD.JPY then it will get hit, but I suspect it is not.
Potential Head & Shoulders in both 1H and 4H chart.
Attached Image
closed my shorts from 0,7852 to 0,7778 where I have reversed to long....
Quoting MackS10
Potential Head & Shoulders in both 1H and 4H chart.
It reached it's .618 fib projection level and stopped dead making the bearish RSI divergence on daily.Plus, I got a signal from 1hr chart. Us session is open tomorrow and I think Dow is a short term bearish and will visit 8110 level both being daily 50ema, previous resistance and 1.0 fib extension; which should gain some strenght in dolla.
Attached Image (click to enlarge)
Click to Enlarge Name: 1111.jpg Size: 144 KB
took profit from 0,7778 to 0,788

I am expecting a pullback around 0,777 - 0.781 where I'd like to cover and go long again
is it going to 0.95?
Quoting ben10
is it going to 0.95?
Waiting for the push. Lets go to the moon...
Great Bodies are Engineered not Born
Quoting ben10
is it going to 0.95?
don't think so, 0,83 - 0,84 is my final target for the upmove started in March from 0,62
Quoting RichLadyFX
Waiting for the push. Lets go to the moon...
the bull is rolling and the buyers push the price higher and higher, it's remind me of credit expansion and the crash of 2008 analogy but ... me think the opposite trade is more attractive
Quoting fammira
don't think so, 0,83 - 0,84 is my final target for the upmove started in March from 0,62
limit short all the way up to 0.89
Quoting ben10
limit short all the way up to 0.89
don't think we'll see those quotes before late 2009
Quoting ben10
the bull is rolling and the buyers push the price higher and higher, it's remind me of credit expansion and the crash of 2008 analogy but ... me think the opposite trade is more attractive
Is it so? I think the buy is still strong. The trend is still bullish but of course there will be retracement. Just play along.
Great Bodies are Engineered not Born
yeah, the buy is strong. but we are closer and closer to important resistances, so my strategy is to go long and take profits, then long again on pullbacks until AUD will have reached 0,80 - 0,83
It seems that the pair has found resistance in this area? Do you think the upcoming news will make a difference? Is it time to short?
Quoting geribosi
It seems that the pair has found resistance in this area? Do you think the upcoming news will make a difference? Is it time to short?
not yet I think
uptrend is still solid, as I just wrote, I think the best way is to play longs on dip and take profit on the upward spikes

sometimes we could even try some shorts but carefully

I believe that there will be a better short opportunity above 0,80...
limit short in the black so far but 0.79 is not taken, its seem the support and resistance round number is 0.78
watch recent highs at 0,7890
next targets of a possible break are 0,793 and 0,8

first support area is 0,781 /20 and 0,775 below (buy the dip still makes most sense to me)

tone is still positive as long as 0,767 - 0,77 holds
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