AUD/USD

Aussie bounced off descending LTL, daily candle is on the path towards a doji and there are some other reversal signals materializing in my system that I really don't want to try to explain . Hold tough, wood is being chopped and a new leg down could be started as soon as tomorrow.

Just curious, I am in McKinney. You anywhere close by in the great State of Texas.

Austin TX baby

Gold is on it's way for a nice 60 min red print if can hold, and it will be on it's way to filling that gap with still a ways to go. We are dancing with my S2 again. I have S3 at .9038, but we are definitely hitting resistance at S2.

Correction on my last post. I got a little excited. We are dancing with S1, and my S2 is .9086. My S3 is .9038. After watching this channeling all night, you can't blame me for hallucinating at this point. Besides if my mind could will it down to S3, we would have already been there.

Gold continues to decline, and we are looking good next stop .9086.

The upward retracements on this are driving me crazy. It almost feels like the market gets held up until Gold shows positive signs of trending up again? I am going back to my hole, and not coming up until we get in the .90500 range again. Good luck everyone.....

short AUDUSD @ 0.9119, SL 9180, it's back to bottom of prev congestion after a downside break of the 3h range

AUD dipped briefly
below 0.9100¢ but this was seen as a good buying opportunity
and the currency quickly recovered to trade at fresh highs through
the 0.9170¢ level. We have since settled back at 0.9120.
For today both AUD and NZD should remain well supported on
dips but note that we get Australian data out

traded higher supported by firmer Asian equity market trade, rising commodity prices and in reaction to
report of improving Australian new home sales. Some Asian equity markets traded at 17 month high. Although
the rally in commodity prices slowed a bit Tuesday platinum traded at its best level since August of 2008.
Australia's November new home sales rose by 0.3%. AUD gains were limited by selling in cross trade to the JPY.
AUD/JPY cross traded about 1% lower with JPY supported by rumors of exporter repatriation. AUD gains were
also limited by a report that China’s PBOC says that Chinese banks need to control the pace of lending. On
Monday, China reported a sharp increase in manufacturing PMI and producers in China have raised prices at the
fastest pace in 17 months. Acceleration of growth in China increases the risk of inflation and Chinese officials
appear to be considering efforts to clamp down on inflation risks. If China takes aggressive action to tighten
lending it could diminish optimism about growth outlook in Asia. The growth outlook in Asia is key to the demand
for commodities and exports from Australia. AUD traded sharply higher Monday with focus shifting from RBA
policy outlook to optimism about global growth. AUD had been experiencing significant selling pressure sparked
by diminished RBA rate hike speculation and concern that recent RBA rate hikes have contributed to weaker than
expected domestic growth in Australia. At the start of December investors were looking for the RBA to hike rates
by 50 bps in February. The trade now looks for the RBA to pause in its tightening cycle because the sustainability
of the economic recovery in Australia is less certain. AUD is supported by improving risk sentiment and positive
outlook for commodity prices.
On January 6th November building approvals would be released expected at 1.5% compared to -0.6% last month.
On January 7th November retail sales and November trade balance will be released. Retail sales are expected to
rise by 0.6% compared to 0.3% last month. The trade balance is expected at -2.5bln compared to -2.3bln last
month.

AUD/USD: Opens Asia At Familiar level After Whippy Session Sydney, January 06: The AUD/USD opens the Asian session not far away from where it opened yesterday (0.9125) after getting pushed and pulled by cross flows. The AUD made decent gains against the European currencies - but was weighed down by some decent AUD/JPY selling from Japanese investors and later on by longs getting stopped out. The AUD/USD fell as low as 0.9092 during the US session when Wall Street fell into the red following much worse than expected US Pending home Sales data, but Wall Street recovered to flat and commodity prices held firm to allow the AUD/USD to drift back towards 0.9120.
The market will keep a close eye on flows out of Tokyo again after that center bought a lot of JPY yesterday against a number of currencies. The USD/JPY might come under pressure again today after US Treasury yields tumbled and this could put some added pressure on the JPY-crosses - including the AUD/JPY. AUD/USD buyers are camped between 0.9060/90 with stops eyed below 0.9050. There is very good selling ahead of 0.9200 that should cap any aggressive attempts higher. Australian November Building Approvals will be released at 00:30 GMT with the market expecting a 3% rise M/M.

AUD/USD intraday: consolidation.


Pivot: 0.9185

Preference: Short positions below 0.9185 with targets @ 0.907 & 0.901 in extension.

Alternative scenario: Above 0.9185 look for further upside with 0.923 & 0.9325 as targets.

Comment: the RSI is capped by a bearish trend line.

Key levels
0.9325
0.923
0.9185
0.912 last
0.907
0.901
0.898

Hey Puks,
here is the link:
http://www.timingcharts.com/index.php
set the COT index for 13 and look for Larg Institute, looking at the current chart you can see the COT was extreme (0) last week and being a contrarian indicator that explains the rebound from the low

The break up through 0.8950 negated the ST bearish count. This revised count needs to have 0.92 level hold otherwise there could be further upside. but it's looking good so far!

I've been trying to see the pic in AUDUSD and it doesnt seem bearish for now, may be the final V leg is waiting to be completed ; I dont mind being wrong as I'm sick of USD weakness

I agree, there is not one bearish thing about the aud that i can see, unless NFP gives it a shove down on friday then i can't see weakness till mid next week at the earliest.

may i know what USD weakness you mean?

my guess is the overall US weakness for the past 9 years

Oh come on. There are obvious reasons to be bearish. LTL resistance, RSI bearish divergence, daily doji. I mean I'm not even getting into the details here. Geez.

I don't use any of those things to trade. I trade what i see it says more up before down, guess we will have to wait and see.