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Aussie Pairs

  • #2,201
  • Apr 27, 2008 7:27pm Apr 27, 2008 7:27pm
Quoting Aad
Interesting way of describing it, he he...
Blame babypips.com, their words not mine although it's a very apt description
Patience + Humility + Study = Success
  • #2,202
  • Apr 27, 2008 7:37pm Apr 27, 2008 7:37pm
Just looks like a partial pin bar to me. If you go to the daily you'll see the tip and where it drops back down to the trendline. The question will be whether the climb back up tops out before .9500. If it does it'll end up as a head&shoulders (see the head and the left shoulder?), otherwise it'll violate the pattern and resume the triangle.

Just remember that one pattern at a higher TF ends up being another pattern at a lower TF.
  • #2,203
  • Apr 29, 2008 4:31pm Apr 29, 2008 4:31pm
Anyone have any thoughts of shorting aud/nzd
  • #2,204
  • Apr 30, 2008 8:07am Apr 30, 2008 8:07am
I am short AUD/NZD, it reached a resistance line on the weekly chart. As long as USD/JPY doesn't fall suddenly we are in for a nice ride towards 1.18 and beyond
"Luxury is one of the basic needs", (c), Don Corleone
  • #2,205
  • May 1, 2008 4:42pm May 1, 2008 4:42pm
Quoting Firstboss
I am short AUD/NZD, it reached a resistance line on the weekly chart. As long as USD/JPY doesn't fall suddenly we are in for a nice ride towards 1.18 and beyond
Looking good so far
  • #2,206
  • May 1, 2008 6:09pm May 1, 2008 6:09pm
Aussie retail sales out in couple hours, think it will continue weak?
  • #2,207
  • May 2, 2008 1:27am May 2, 2008 1:27am
There goes the neckline Dutch! Wow, 20 pips in a blink!
  • #2,208
  • May 2, 2008 3:55am May 2, 2008 3:55am
Quoting Trader KGB
There goes the neckline Dutch! Wow, 20 pips in a blink!

Patience + Humility + Study = Success
  • #2,209
  • May 5, 2008 6:04pm May 5, 2008 6:04pm

Quoting DutchTrader
{Promotion Removed}
  • #2,210
  • May 5, 2008 6:08pm May 5, 2008 6:08pm
Quoting ciscoguy
Patience + Humility + Study = Success
  • #2,211
  • Edited 6:53pm May 5, 2008 6:38pm | Edited 6:53pm
I see an ascending triangle on the daily chart. I am looking for a daily close above 9500 to confirm a breakout to the upside, targeting 9950 (161.8% ext of 8510-9400). However if Aussie fundamentals start to come out worse than anticipated, going short at 9490 with SL set at a close above 9500 would be be nice way to target a BIG fall (of course needs to break 9270 to invalidate bullish triangle first).

Forgot to add that since DJ closed above 13000 last week, stocks are quite bullish and if 12780 (last week's low) remains intact, I see further rallies in high yielding currencies this week.
Attached Image (click to enlarge)
Click to Enlarge Name: AUD daily.jpg Size: 95 KB
  • #2,212
  • May 5, 2008 7:01pm May 5, 2008 7:01pm
I look for a breakout to the upside in AJ as well, to challenge 100.51 the topside target after the fall to the February lows.
Patience + Humility + Study = Success
  • #2,213
  • May 6, 2008 6:49am May 6, 2008 6:49am
does aud/usd seem bearish
  • #2,214
  • May 6, 2008 2:17pm May 6, 2008 2:17pm
A lot is going to depend on how strong the dollar really is. There's no doubt the AU is still strong, the question will be is the dollar weak enough for the Aussie to break out or not? I don't expect the current breakout to hold once the eurusd finishes it's retrace... but I could be wrong there.

If the AU breaks out, the AJ is going to take off like a rocket.
  • #2,215
  • Edited 2:56pm May 6, 2008 2:44pm | Edited 2:56pm
AU at .95 now, i hope it goes past it's alltime high
  • #2,216
  • May 7, 2008 7:23pm May 7, 2008 7:23pm
Thoughts on what the news tonight will do to the AU pair
  • #2,217
  • May 7, 2008 8:09pm May 7, 2008 8:09pm
I feel good AUD data.
  • #2,218
  • May 7, 2008 8:32pm May 7, 2008 8:32pm
Quoting Clouds
I feel good AUD data.
  • #2,219
  • May 7, 2008 11:35pm May 7, 2008 11:35pm
Hi all,

Hope experienced traders will offer their opinions on a simple qneuiry that I have. Thanks in advance.

If I hold a long-term bullish view of AUD against JPY, then logically I should go Long on AUDJPY.

But it seems that AUDJPY's movement is naturally heavily interlinked with movements in USDJPY and AUDUSD - pelase correct me if I am wrong on this point.

Scenario 1:
- USD has bottomed and starts to recover against other currencies.
- Then USDJPY rises, and AUSUSD drops.
- As a result, AUDJPY (being equal to AUDUSD*USDJPY) will rise or drop, depending on the relative strength of rise and drop in AUDUSD and USDJPY.

Scenario 2:
- USD continues to drop against other currencies after this period of correction.
- Then USDJPY drops, and AUSUSD rises.
- As a result, AUDJPY (being equal to AUDUSD*USDJPY) may drop or rise, depending on the relative strength of rise and drop in AUDUSD and USDJPY.

Whether it is scenario 1 or scenario 2, it seems the rise of AUDJPY is limited by the movement of USD. This being the case, does it mean it is quite impossible to go Long on AUDJPY on its own merits?

Once again, thanks for all advice.

Regards.
  • #2,220
  • May 8, 2008 12:01am May 8, 2008 12:01am
Quoting blueskies
Hi all,

Hope experienced traders will offer their opinions on a simple qneuiry that I have. Thanks in advance.

If I hold a long-term bullish view of AUD against JPY, then logically I should go Long on AUDJPY.

But it seems that AUDJPY's movement is naturally heavily interlinked with movements in USDJPY and AUDUSD - pelase correct me if I am wrong on this point.

Scenario 1:
- USD has bottomed and starts to recover against other currencies.
- Then USDJPY rises, and AUSUSD drops.
- As a result, AUDJPY (being equal to AUDUSD*USDJPY) will rise or drop, depending on the relative strength of rise and drop in AUDUSD and USDJPY.

Scenario 2:
- USD continues to drop against other currencies after this period of correction.
- Then USDJPY drops, and AUSUSD rises.
- As a result, AUDJPY (being equal to AUDUSD*USDJPY) may drop or rise, depending on the relative strength of rise and drop in AUDUSD and USDJPY.

Whether it is scenario 1 or scenario 2, it seems the rise of AUDJPY is limited by the movement of USD. This being the case, does it mean it is quite impossible to go Long on AUDJPY on its own merits?

Once again, thanks for all advice.

Regards.
That's over my head. Wow.
Many currencies, GBP, EUR, might be at bottom, if they make a come back, watch out. AU is going to go to parity.
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