AUD/USD

Mortgage rates are creeping up despite the RBA not moving rates because of higher funding costs.
Already the mortgagees are stretched with making ends meet with zero wage growth.
House prices are falling and anyone who wants to get may struggle with a capital loss.

It doesn't bode well at all and this could have a massive negative impact on the Australian economy especially with consumption in retail and discretionary spending.

Lets see how this pans out but will be looking for opportunities to sell more into any rally

The smouldering trade conflict makes the Reserve Bank of Australia’s task more difficult. A trade war between the US and China, Australia’s most important trade partner, would not leave the Australian economy unaffected. The next rate meeting is due tomorrow. But even if the Australian economy was able to grow notable more recently and if inflation seems to approach the target area the RBA had sounded cautious recently as far as possible rate hikes were concerned. The market has now completely priced out the possibility of a rate hike this year and as a result AUD lost considerable ground. I remain optimistic and in view of good fundamental data see scope for a rate hike until year-end. However, in view of increasing protectionist risks the RBA would have to signal that very soon. Tomorrow if possible. Otherwise the downside risks for my RBA and AUD forecast will rise considerably.

The pair could not move further, bullish strength struggle beyond 0.74 level, support can be seen around 0.7360 level and break below would be targeting 0.7320.

Yes, its landed..0.73500

I've sold at 0.7362 and can see resistance at the 0.7335 mark. If it drops past that I can see a sustained drop down to around 0.7200 and I'll be selling again at 0.7320.

If not I'll take a small profit around the 0.7350 mark.
Anybody else bearish??

Up until about an hour before the rate statement comes out later... :-)

AUD and NZD are buddies.

0.7370 is another chance to re-open long position.

i don't like going long on this pair since it has been heavy and the RBA didn't help it exceed 0.74, which is not good for bulls in my opinion

Hello traders.

H1 structure to look for a short opportunity


Happy trading

Australian retail sales will be interesting today if it continues lowers but whats more alarming is the the credit card debt Australians have .. $45 billion is astonishing .

read here ;

http://www.abc.net.au/news/2018-07-0...f-debt/9936826

Not only do Australians have that but also mortgage debt and no wonder families are struggling with no relief of higher wages insight.

Many families are working 3 jobs.

This cant last and soon Australians will have to curb its discretionary spending.

0.7450 looks like a good spot, I just took a Short @ 0.7410 with a 4 pip loss.

exactly 0.7370

you don't trade a short with a 4 Pip Stop on massive Aussie intraday strength and USD intraday weakness.
I traded this Short with a reasonable Stop according to priceaction.
Trade the price, not the lines. Price is king.
I booked profit.

looking to sell from 0.742, stop above 0.745

take profit at 0.73 and below hopefully

Yes it was a mistake to go shortat that level, i interpreted the news data wrong. I didn't have a 4 pip SL; I closed my trade once I new the trade wasn't going to worked. Thx for your 2cents

Monthly, Weekly, Daily & H4 bearish mode.
Rejection on Daily timeframe.
Looking for bearish entry.

Market Analysis: price is ranging, its advisable to wait until a strong trend begin. If price cross upper band levels then it might start a up trend & If price hit lower band levels then it might start a down trend.

Trading charts: M15, M30, H1, H4
Our recommendation: Market is ranging

upper band level 1: 0.7424
upper band level 2: 0.7446
lower band level 1: 0.7331
lower band level 2: 0.7308

Time: July 5, 1:30 AM (UTC+6)

Short Term
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Attached Image (click to enlarge)

My short entry :

I'm in the same boat mate. First entry to the pip then added more on the way down.

Good luck us.