AUD/USD

AUD/USD: Unable To Bounce As CTAs Sell Rallies Sydney, December 22: The AUD/USD is having trouble regaining the 0.8800 level after investment banks and CTAs sold earlier today to knock out a 0.8800 barrier and trigger stops below. Traders say that funds are still getting out of AUD longs that built up over the last nine months of 2009.
The move lower in the AUD/USD was apparently helped along by an article in the Herald Sun noting the massive exposure NAB has to Italian government debt. The article coincides with an FT article highlighting that the biggest concern for risk managers at major banks is sovereign debt. While the headlines about NAB may have been used as an excuse to trigger AUD/USD stops below 0.8800 - it is likely to fade very quickly as a factor. While there isn"t much in the way of support this side of 0.8650 - there is talk of decent buying interest around 0.8750.

Strategy:[email protected] The bounce on Friday was reversed overnight and the move extended to 0.8785 very early in Asia, as the downward momentum continues. Our strategy is to sell a sustained break or a topside failure. The price action leaves the daily studies heading south, with room to extend, while the hourlies show mixed signals.

Really no buying interest until 80.. In which we may get to play around in the 80's for a while until it breaks lower.

thnaks for false break phaggot, got wait for euro to break 1.4250's it seems

Oh yeah shake that money tree for Dady

The dollar index is holding things up at the moment, its stuck at 78.5 resistance, same resistance that stalled the move on Friday. If it can break it the euro should be down to 1.4140 fairly quickly and hopefully aud will follow.

That's right bro... keep it shakin!

I believe it will break that level too, euro is getting stronger although amidst a very thin market be safe.

aud/usd is bound for retracement... i'm looking at 50% fib... we'll see. just keep holding your shorts. it's a very interesting week we have... just tighten your stop loss.

whatever you do, be safe! we cannot rely on signals this time of year...

Oh yeah come give Dady some , keep it coming shake it shake it , oh there's more money in that tree mmmmmm

DX looks very bearish on hourly at that resistance, does anyone find the DX to help with a 'lead' on the AUD or find the Euro & Gold to be good leads?

always use dx, there's no point going long the aud or euro until dx is also in position to go down as well. the timing of the trade will be all wrong and you'll probably get stopped out on a few false starts until the move gets going.

generally dx leads the aud and euro by 5-10 minutes i have found.

Amyc...where do you find your DX charts?

i get data from the exchange via interactive brokers and make them in fibonacci trader

its a futures type contract, i get mine on Broco mt4

Thanks... I did look at that the last time you suggested, i may have to look deeper and see all that is has to offer

any thoughts on it? I am not real familier with it

Gold and DX together work... The correlation between USD purchasing power and Spot Gold is usually always inverse, there are some odd times when we de-correlate. that can be seen, Aussie seems to follow the affects of both, yet does not always seem to agree. World Spot Gold (not FX gold) Held 1100 for a bit while Aussie lost last week. DXY is not composed of Aussie. Aussie is also dubbed a "Commodity Currency" due to it's following of Commodities like GOLD! which Australia produces a LOT of.!

BTW Fellas you can get FREE DXY @ Netdania. Chartstation and Netstation as well as various other FOREX charting / Commods / Some Equities.
(No affiliation, not promoting, just passing along, some of my tools.)

The LINK IS HERE
I find price spot to be always right between multiple brokerz bid ask.... Where it should be, hopefully!

I use Kitco for my Non FX gold. And Pop into Market Watch for News and always that little DXY chart I posted in color below.


nothing is ever 100% correlated. Use both In my opinion.
Now may be a nice buy in for some physical gold. Don't spend the farm though!

I really enjoyed that streak of Aussie UP!

http://www.kitco.com/images/live/gold.gif

GOLD SPOT / DXY & GOLD SPOT AUSSIE/USD

Very helpful!

Now we need to make some PIPS!

BUT, the volume is low... Many have TP and will not trade,
at least what I hear about the "big boys" banks, hedge funds, etc. Until the New year. I am sure some swing trades are left open. Yet it seems almost obvious that the liquidity is gone, holiday season is here, profits Booked,
clients smiling, Green...

Some of these moves are not justified on the news alone. In my opinion.
Many in the US are still unemployed, we keep printing dollars and adding to the national debt. Gold Keeps rising and still has held on to substantial gains.

Australia, is said to be the only if not the least affected by the global recession...

If at all interested in buying physical gold for investment / hedge. Now may be a good time. DYODD. If you like a dealer recommendation PM me.

I decided to take the profit on my remaining aud shorts from this week. still holding 2 long term shorts plus my euros but the path of least resistance is up at the moment and that is the path that europe always chooses to take lately.