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Aussie Pairs

  • #1,641
  • Dec 17, 2007 8:01pm Dec 17, 2007 8:01pm
Quoting dds_student
some major resistance at 8590...you think it will break it?...
Yes!
  • #1,642
  • Dec 17, 2007 8:09pm Dec 17, 2007 8:09pm
Quoting falcon232
Yes!
it has some good support at 8580 and its been trading betwen 8580 - 8590 for quite some time now....
  • #1,643
  • Dec 17, 2007 8:13pm Dec 17, 2007 8:13pm
Quoting dds_student
it has some good support at 8580 and its been trading betwen 8580 - 8590 for quite some time now....
Agreed. Soon it should start a pretty strong ride back up towards .90
  • #1,644
  • Dec 18, 2007 9:48am Dec 18, 2007 9:48am
Short squeeze up to 8642 and now back down towards 8560 I suppose, I'm short
Patience + Humility + Study = Success
  • #1,645
  • Dec 19, 2007 7:49pm Dec 19, 2007 7:49pm
Once price breaks this trendline, we should be on our way up.......
Attached Image (click to enlarge)
Click to Enlarge Name: audusd.gif Size: 24 KB
  • #1,646
  • Dec 19, 2007 7:50pm Dec 19, 2007 7:50pm
Title: AUD/USD intraday: rebound in sight Summary: Update on supports and resistances. Story: Pivot: 0.8545

Our preference: Long positions above 0.8545 with targets @ 0.8638 & 0.8665 in extension.

Alternative scenario: Below 0.8545 look for further downside with 0.8515 & 0.8501 as targets.

Comment: intraday technical indicators are losing downside momentum.
http://www.tradingcentral.com/chart/...1219214153.GIF
  • #1,647
  • Dec 19, 2007 9:33pm Dec 19, 2007 9:33pm
Quoting DollaBill
Once price breaks this trendline, we should be on our way up.......
Except that descending triangles, like the one you highlighted, are typically bearish continuation patterns. There was a huge one that developed from 11/21 onward until it broke last Friday, the base was 8684. There was yet another formation right before that with a base of 8750, it also failed (or worked, from a pattern standpoint).

Here we are again, where there appears to be a solid floor at 8555, but each day this week, like clockwork, rallies ended at lower and lower highs (mon 8649, tues 8642, today 8638).

I'm bullish on Aussie in general, there are some great trading ranges these past 4 weeks: buying the floor with a stop 20-pips below and a TP 50-100 pips higher. But these are not bullish formations. And we just had two mirror images where a base fell through after 3-4 tests.

This could be the one where it finally turns around, I think the DX is going to hit a brickwall at 78-80. Aussie, kiwi, euro, loonie, all found semi-stable floors for the time being.
  • #1,648
  • Dec 19, 2007 10:52pm Dec 19, 2007 10:52pm
You are correct, it is in a downtrend, notice the red line at the bottom of the screen(Stealth Indicator.) Will be looking for sells, until that turns blue....
  • #1,649
  • Dec 21, 2007 2:07am Dec 21, 2007 2:07am
Quoting Trader KGB
I think the DX is going to hit a brick wall at 78. Aussie, kiwi, euro, loonie, all found semi-stable floors for the time being.
Well we hit that brick wall on the DX and are retreating quickly. Finally Aussie breaking out of its weekly range, although it too hit a brick wall at that famous 8684 level (to the pip!).

I'm surprised that USDJPY has barely budged given this big move up in both the majors and global futures markets. Friday is shaping up to be green across the board, but so far no action on the yen..
  • #1,650
  • Dec 21, 2007 2:40am Dec 21, 2007 2:40am
Quoting Trader KGB
I'm surprised that USDJPY has barely budged given this big move up in both the majors and global futures markets. Friday is shaping up to be green across the board, but so far no action on the yen..
Green as in good for USD? If so, what are you basing this observation on? I would think that with the last couple of days of good earning reports, the Dow should be up significantly, which should generally help AU and AJ... just my take.
  • #1,651
  • Dec 21, 2007 2:51am Dec 21, 2007 2:51am
Quoting Subdude
Green as in good for USD? If so, what are you basing this observation on? I would think that with the last couple of days of good earning reports, the Dow should be up significantly, which should generally help AU and AJ... just my take.
Right, green as in global equity markets up, strength against the dollar, carry crosses up, etc. The latter doesn't appear to be widespread as UJ and GJ are stalled out of the gate.

Keep on guard for any more sharp swings. That wasn't particularly a healthy move up when everything just spiked, it's driven by much thinner FX liquidity (many banks have closed their books for the year).
  • #1,652
  • Dec 21, 2007 4:19am Dec 21, 2007 4:19am
Nice move, coincided with the N/U move up. This could be a short opportunity, looking at the daily..hmmm...
Patience + Humility + Study = Success
  • #1,653
  • Dec 21, 2007 5:21am Dec 21, 2007 5:21am
Can this be right - AU is above all daily pivot points at the moment, including R2? If that's true, this seems like a pretty bullish sign to me.
  • #1,654
  • Dec 21, 2007 5:26am Dec 21, 2007 5:26am
Quoting Subdude
Can this be right - AU is above all daily pivot points at the moment, including R2? If that's true, this seems like a pretty bullish sign to me.

Possibly, but the overall trend doesnt look so bullish on the longer TF charts
Patience + Humility + Study = Success
  • #1,655
  • Dec 21, 2007 1:48pm Dec 21, 2007 1:48pm
Quoting Subdude
Can this be right - AU is above all daily pivot points at the moment, including R2? If that's true, this seems like a pretty bullish sign to me.
Thursday was such a dead range that the pivots came out too tight to really matter in the event of a huge short covering global rally.

Thankfully, the yen finally came out of the gate, CJ +200!
  • #1,656
  • Dec 21, 2007 6:54pm Dec 21, 2007 6:54pm
Australian Treasury forecasts have upgraded inflation expectations for next year much higher.
RBA still seems confident that inflation will moderate.
I don't know.

Here's an article I found in local media, which could just be a beat up.

I'm still bullish on AUD towards 90c, above that will need sub prime issues to settledown.
Few more Fed eases too.
  • #1,657
  • Dec 23, 2007 1:17pm Dec 23, 2007 1:17pm
Hi all!

EUR/AUD following support/resistance very well on Friday, with agressive action right toward the end, perhaps a taste of things to come next week...

Take care.

rudenstein.
Attached Image (click to enlarge)
Click to Enlarge Name: euraud-restistance.jpg Size: 268 KB
  • #1,658
  • Dec 26, 2007 6:53pm Dec 26, 2007 6:53pm
Time for A/J to make that move to 102.00
Patience + Humility + Study = Success
  • #1,659
  • Dec 26, 2007 9:06pm Dec 26, 2007 9:06pm
I think there will be the 101.1-ish area to break through before we hit 102. There was a retrace to this area 14 Nov after the early Nov fall. My thought is a strong move above there and we will see 103.5.
I am just looking at support and resistance levels as i see them. Not convinced by fibbs yet.
Any other thoughts?
  • #1,660
  • Dec 26, 2007 9:15pm Dec 26, 2007 9:15pm
JPY pairs look uncertain, AUDUSD not my cup of tea long right now, either
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