AUD/USD | Page 398 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

AUD/USD

Similar Threads

EUR/GBP, EUR/USD, GBP/USD, AUD/USD, CAD, NZD, JPY, and more... 15 replies

EUR/USD, AUD/USD, and CAD/USD ready to move up 2 replies

Anyone here trading AUD/USD or USD/AUD tonight regarding AUS Home Loan Report? 1 reply

The AUD/USD 1.00 EUR/AUD 1.60 GBP/AUD 2.00 Thread! 0 replies

AUD Trade Balance and AUD Retail sales 6 replies

Attachments: AUD/USD
Exit Attachments

AUD/USD

  • #7,941
  • Oct 29, 2009 5:32am Oct 29, 2009 5:32am
Quoting cannarek
AUDUSD second half closed (from 0.9195) by hand, buy limit waiting at 0.9010
if AU goes down from 9050 I will remove my buy limit
  • #7,942
  • Oct 29, 2009 5:35am Oct 29, 2009 5:35am
Quoting dongsky
get real! you mean forex don't need to use brains to trade? just pick tops and bottoms will be enough?
Quite the opposite. Like I posted yesterday just after it started to fall its been a one way trade all year. Carry/risk trade. Shes overcrowded time for a wash out of those that don't think.

You one of them?
  • #7,943
  • Oct 29, 2009 5:39am Oct 29, 2009 5:39am
If the news later negative to Aussie, will it drop to around 0.8950?
  • #7,944
  • Oct 29, 2009 5:40am Oct 29, 2009 5:40am
Quoting dongsky
got it! i think from now on i need to see and compare figures from historical highs and lows and i will monitor gold and equity market from time to time.

Can you explain to me why spot gold and aussie dollar are relatively the same movement?

WEll the fact that Australia is the 3rd largest producer of GOLD in the world alone makes good sense why it would move along with GOLD. More demand of GOLD is good for Australia! Canadian $ (CAD is very closely corelated with OIL) and Aussie $ are the two most commodity based currencies in the forex market!
  • #7,945
  • Oct 29, 2009 5:50am Oct 29, 2009 5:50am
Quoting cannarek
if AU goes down from 9050 I will remove my buy limit
Just a thought, but, the US GDP numbers may already be "baked in".
  • #7,946
  • Oct 29, 2009 6:01am Oct 29, 2009 6:01am
hey guys, from what i read in this thread, if tonight US GDP is +ve, AUD/USD will go UP.

But per my understanding, if GDP +ve, that means dollar will be strong, then we suppose to see AUD/USD pair going down right?

sorry for asking this stupid question. still learning. thanks.
  • #7,947
  • Oct 29, 2009 6:09am Oct 29, 2009 6:09am
Quoting Trembling
Quite the opposite. Like I posted yesterday just after it started to fall its been a one way trade all year. Carry/risk trade. Shes overcrowded time for a wash out of those that don't think.

You one of them?
I dunno i'm just new in trading and still learning. I lost big time yesterday though
Success consists of going from failure to failure without loss of enthusiam
  • #7,948
  • Oct 29, 2009 6:12am Oct 29, 2009 6:12am
Quoting Pak Tiger
WEll the fact that Australia is the 3rd largest producer of GOLD in the world alone makes good sense why it would move along with GOLD. More demand of GOLD is good for Australia! Canadian $ (CAD is very closely corelated with OIL) and Aussie $ are the two most commodity based currencies in the forex market!
Thanks a lot pak, you have enlightened me with those issues... it does make a lot of sense to me now, and guess what i believe I will be a little bit better next time.

one more hour and i hope i can capture few pips i'm going to liquidate my position now... Cheers mate!
Success consists of going from failure to failure without loss of enthusiam
  • #7,949
  • Oct 29, 2009 6:15am Oct 29, 2009 6:15am
Quoting Pak Tiger
WEll the fact that Australia is the 3rd largest producer of GOLD in the world alone makes good sense why it would move along with GOLD. More demand of GOLD is good for Australia! Canadian $ (CAD is very closely corelated with OIL) and Aussie $ are the two most commodity based currencies in the forex market!
Just on that AUD correlated to Gold line.

Its actually not as strong as other commodities. For this year the correlation is at 0.74

While Oil is to AUD correlation is running at 0.84

Even more closely linked to the AUD is the Aussie equities market (XJO) its running at a nearly perfect correlation of 0.95

On a daily basis. Gold not Australia's biggest export product, Energy is in its various forms.

http://www.dfat.gov.au/aib/images/trade2.jpg
  • #7,950
  • Oct 29, 2009 6:16am Oct 29, 2009 6:16am
Quoting dongsky
I dunno i'm just new in trading and still learning. I lost big time yesterday though
That shouldn't put you off dongsky!! I also got some heavy losses in the last few days. Last week was a dream week for me and this week so far has been quite the opposite But never mind, its all part and parcel of this business! Lets focus on the current trade/trades and try to make the most out of it!!
  • #7,951
  • Oct 29, 2009 6:19am Oct 29, 2009 6:19am
Quoting Trembling
Just on that AUD correlated to Gold line.

Its actually not as strong as other commodities. For this year the correlation is at 0.74

While Oil is to AUD correlation is running at 0.84

Even more closely linked to the AUD is the Aussie equities market (XJO) its running at a nearly perfect correlation of 0.95

On a daily basis. Gold not Australia's biggest export product, Energy is in its various forms.

http://www.dfat.gov.au/aib/images/trade2.jpg...

Thanks for the info Trembling!! The corelation between GOLD and AUS $ was 0.84 from 1999-2008 so yes it might have dropped a bit this year but it still remains very closely corelated. And you are right about the other commodities which are very closely related to the Aussie as well!!!
  • #7,952
  • Oct 29, 2009 6:23am Oct 29, 2009 6:23am
Quoting Pak Tiger
Thanks for the info Trembling!! The corelation between GOLD and AUS $ was 0.84 from 1999-2008 so yes it might have dropped a bit this year but it still remains very closely corelated. And you are right about the other commodities which are very closely related to the Aussie as well!!!
Yeah its a Commodity/risk currency is the bottom line.
  • #7,953
  • Oct 29, 2009 6:26am Oct 29, 2009 6:26am
Quoting Trembling
Yeah its a Commodity/risk currency is the bottom line.

Absolutely!!

So who is taking positions before the MAJOR US GDP news? Are you guyz trading this news? Are Bulls outweighing the Bears here for this upcoming news?
  • #7,954
  • Oct 29, 2009 6:41am Oct 29, 2009 6:41am
Hi guys, I'd prefer to wait for the news then take a position following that. Otherwise it's either an educated guess or worst still, a gamble..
  • #7,955
  • Oct 29, 2009 6:48am Oct 29, 2009 6:48am
Quoting Pak Tiger
Absolutely!!

So who is taking positions before the MAJOR US GDP news? Are you guyz trading this news? Are Bulls outweighing the Bears here for this upcoming news?
I'm patiently waiting, I got burned with the British GDP when I bet bullish on it before the release, but I think the GDP will turn out to be good for bulls.

FYI the aud/cad has already recovered 50% of losses this week right now
  • #7,956
  • Oct 29, 2009 6:50am Oct 29, 2009 6:50am
Quoting Pak Tiger
Absolutely!!

So who is taking positions before the MAJOR US GDP news? Are you guyz trading this news? Are Bulls outweighing the Bears here for this upcoming news?
i'm going long
Success consists of going from failure to failure without loss of enthusiam
  • #7,957
  • Oct 29, 2009 6:52am Oct 29, 2009 6:52am
Well one of my trade EUR/USD is covered with SL=BE but thats a minor trade (with small lot size). THe bigger one is with AUS/USD where i'm short at 9037. I'm just waiting for the price to move down by some 20 pips so that i can put my SL = BE and then i can safely enter the news !!! Lets c if it allows me to do that
  • #7,958
  • Oct 29, 2009 6:53am Oct 29, 2009 6:53am
in a worst scenario, AUD/USD might go down as far as 8930...
Success consists of going from failure to failure without loss of enthusiam
  • #7,959
  • Oct 29, 2009 7:28am Oct 29, 2009 7:28am
Quoting Pak Tiger
That shouldn't put you off dongsky!! I also got some heavy losses in the last few days. Last week was a dream week for me and this week so far has been quite the opposite But never mind, its all part and parcel of this business! Lets focus on the current trade/trades and try to make the most out of it!!

Gee thanks you're righ my friend i always study my losses every week end but no matter what i do, what happened yesterday was beyond any logic could find. Well, it's about time to say next trade please!

Cheers mate!
Success consists of going from failure to failure without loss of enthusiam
  • #7,960
  • Oct 29, 2009 7:29am Oct 29, 2009 7:29am
  •  G_Man
  • | Joined Aug 2009 | Status: getting ready for the next Battle | 781 Posts
ok, you ready ....

very quickly ...

first reaction: drop ... then i dont know ...

so you decide if you want to go long after the drop or short ...
40 traders viewing now