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AUD/USD

  • #101,721
  • Jul 11, 2017 11:19am Jul 11, 2017 11:19am
Quoting ArslanHyder
{quote} Next target ... 7696 hopefully...
or maybe 7320
  • #101,722
  • Jul 11, 2017 11:20am Jul 11, 2017 11:20am
Quoting arya.aryaee
{quote} i am waiting a down move! maybe i was wrong
No trades for me yet since there wasn't a breakdown of the flag. (I do have some shorts triggered at higher prices)
  • #101,723
  • Jul 11, 2017 12:52pm Jul 11, 2017 12:52pm
aaaand as expected, still going up, not a single sign of a short
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  • #101,724
  • Jul 11, 2017 12:56pm Jul 11, 2017 12:56pm
Quoting arya.aryaee
{quote} or maybe 7320
it's 7696
Markets are Irrational
  • #101,725
  • Jul 11, 2017 1:00pm Jul 11, 2017 1:00pm
Quoting arya.aryaee
{quote} or maybe 7320
Looking forward to Westpac Consumer Sentiment...
Markets are Irrational
  • #101,726
  • Jul 11, 2017 1:18pm Jul 11, 2017 1:18pm
Quoting ArslanHyder
{quote} Looking forward to Westpac Consumer Sentiment...
as i told it is so probably that i was wrong. but i think if it couldnot break 7680 then it will turn back to 7320
  • #101,727
  • Jul 11, 2017 1:20pm Jul 11, 2017 1:20pm
Quoting arya.aryaee
{quote} as i told it is so probably that i was wrong. but i think if it couldnot break 7680 then it will turn back to 7320
Let's see from asian to European session tomorrow... Fingers Crossed...
Markets are Irrational
  • #101,728
  • Jul 11, 2017 1:26pm Jul 11, 2017 1:26pm
Quoting ArslanHyder
{quote} Let's see from asian to European session tomorrow... Fingers Crossed...
anyway 7670-7680 is a very critical area
  • #101,729
  • Jul 11, 2017 9:20pm Jul 11, 2017 9:20pm
Potential 2618 trade.
61.8% at around .7660.
Monitor PA around that price region.
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  • #101,730
  • Jul 11, 2017 9:24pm Jul 11, 2017 9:24pm
as expected north move...
Markets are Irrational
  • #101,731
  • Jul 11, 2017 9:35pm Jul 11, 2017 9:35pm
first target 7696 then 7747 then 7796 then 7958 if the price clears all of them one by one....
Markets are Irrational
  • #101,732
  • Jul 11, 2017 9:54pm Jul 11, 2017 9:54pm
Quoting ArslanHyder
first target 7696 then 7747 then 7796 then 7958 if the price clears all of them one by one....

Do be cautious as price may turn down from 61.8% level. Just a note, i may be wrong.

Cheers
  • #101,733
  • Jul 11, 2017 10:09pm Jul 11, 2017 10:09pm
Quoting SkyrEk
{quote} Do be cautious as price may turn down from 61.8% level. Just a note, i may be wrong. Cheers
Cautiously and anxiously waiting for a north move stay green bro...
Markets are Irrational
  • #101,734
  • Jul 11, 2017 10:16pm Jul 11, 2017 10:16pm
Quoting SkyrEk
Potential 2618 trade. 61.8% at around .7660. Monitor PA around that price region. {image}
Short AU at 61.8%. I will be out if prices go up to .7670.

TP: Open.

*Not trade advice, do your due diligence if you are going to take on this trade.
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  • #101,735
  • Jul 11, 2017 11:17pm Jul 11, 2017 11:17pm
The bearish outlook on the Aussie makes perfect sense, fundamentally speaking. We are still not in a position to increase the interest rates, whilst the US is expected to raise it several times in the future. Interest rate differentials is a strong variable when it comes to fundamental outlook.

That said, the US dollar has been very bearish recently, which probably explains the recent rally in the Aussie. You can monitor the US dollar index, and as shown in the image attached, it still has just a little bit further to go (I think it will form a double bottom). Tonight is also a big night with Yellen testifying, which will shed on more light on how she expects things to go economy and interest rates wise.

Putting all of that in perspective, I believe that the Aussie will move up in the European session, alongside the dollar index which might fall to 95.49. Yellen will then probably come out saying positive about the US dollar and the dollar index will bounce back strongly (forming a double bottom). We should then be able to see a good slide in the Aussie. The USD has taken a good beating recently, so I am expecting a huge bounce back to the stronger side.

shorts at 61.8% should work, but I also feel we might get opportunities to short at the 78.6% level (around 0.7681) which offers pretty strong resistance.
I have missed the 61.8% window to take a short, and I am a bit skeptical to short it right now. So will wait over the next few hours to see if I can find any opportunities to short.

Ofcourse, all this could turn out to be rubbish and the aussie can rocket upwards.

Happy trading folks!
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  • #101,736
  • Jul 11, 2017 11:33pm Jul 11, 2017 11:33pm
Quoting wisemonk
The bearish outlook on the Aussie makes perfect sense, fundamentally speaking. We are still not in a position to increase the interest rates, whilst the US is expected to raise it several times in the future. Interest rate differentials is a strong variable when it comes to fundamental outlook. That said, the US dollar has been very bearish recently, which probably explains the recent rally in the Aussie. You can monitor the US dollar index, and as shown in the image attached, it still has just a little bit further to go (I think it will form a...
wise words from wisemonk.
But then again, markets will do whatever they want and we just have to follow the trend.
I'm still on short bias but i won't rule out on this pair rocketing upwards. The bears ain't taking the bait this year.
  • #101,737
  • Jul 12, 2017 12:36am Jul 12, 2017 12:36am
Quoting SkyrEk
{quote} wise words from wisemonk. But then again, markets will do whatever they want and we just have to follow the trend. I'm still on short bias but i won't rule out on this pair rocketing upwards. The bears ain't taking the bait this year.

Thanks mate. I definitely agree with your bearish projection.
  • #101,738
  • Jul 12, 2017 1:55am Jul 12, 2017 1:55am
Quoting SkyrEk
{quote} Short AU at 61.8%. I will be out if prices go up to .7670. TP: Open. *Not trade advice, do your due diligence if you are going to take on this trade. {image}
Looking good so far, SL at BE level currently. Risk free trade from now on.
TP: Open.
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  • #101,739
  • Jul 12, 2017 4:02am Jul 12, 2017 4:02am
Quoting SkyrEk
{quote} Looking good so far, SL at BE level currently. Risk free trade from now on. TP: Open. {image}
Nice one mate. Looks like I will sit this one out and watch.
  • #101,740
  • Jul 12, 2017 6:07am Jul 12, 2017 6:07am
Waiting for Yellen to speak out the magical words
Markets are Irrational
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