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AUD/USD

  • #15,741
  • Feb 8, 2010 11:24pm Feb 8, 2010 11:24pm
I'm out of my long @0.8685 and taking a short
  • #15,742
  • Feb 9, 2010 12:00am Feb 9, 2010 12:00am
Quoting Daytrader74
I'm out of my long @0.8685 and taking a short
  • #15,743
  • Feb 9, 2010 12:09am Feb 9, 2010 12:09am
Quoting Clouds
Maybe I'm wrong but i still see higher yet before the next down leg starts.
  • #15,744
  • Feb 9, 2010 12:19am Feb 9, 2010 12:19am
Ive gone long @.8690 Stop @.8550 and Limit @.8950

I think the .8650 Is a strong enough resistance level for a bounce, The RSI is over bought and there are candle patterns indicating a reversal. I think it could go up as high as .90 before hitting resistance, or break thought and continue on its previous up trend.
  • #15,745
  • Feb 9, 2010 12:25am Feb 9, 2010 12:25am
Quoting amyc
Maybe I'm wrong but i still see higher yet before the next down leg starts.
i wonder the same thing, but could be just consolidation a few days before down
  • #15,746
  • Feb 9, 2010 12:29am Feb 9, 2010 12:29am
Quoting Clouds
i wonder the same thing, but could be just consolidation a few days before down
Yeah, thats a possibility. I don't have a specific number in mind for the aud at the moment but i will know it when i see it. But what i do know is that the dollar should go lower and the euro higher before the next swing down.
  • #15,747
  • Feb 9, 2010 12:34am Feb 9, 2010 12:34am
Non of my limit orders were hit except Dow. Should have closed it with 100 pips but slept in this morning. Cant really tell what AUD is doing. Charts are not decisive. The only thing I can think of is that the market could be waiting for news to point the direction.
Besides that I expect a big fall on Dow on MOnday15th Feb.
Find a job that you love and you dont have to work again in your life.
  • #15,748
  • Feb 9, 2010 1:04am Feb 9, 2010 1:04am
Looks like we are in an uptrend in the 1M chart ?!?
  • #15,749
  • Feb 9, 2010 1:13am Feb 9, 2010 1:13am
if it can break 87.10 88.00 will come
  • #15,750
  • Feb 9, 2010 1:23am Feb 9, 2010 1:23am
If 8710 breaks I have my eye on the 8760-70 area for a short down to 8554.
  • #15,751
  • Feb 9, 2010 1:31am Feb 9, 2010 1:31am
anyone still holding their short?
  • #15,752
  • Feb 9, 2010 1:59am Feb 9, 2010 1:59am
sold it @ 8695 and still hold.
Never sell @ lower upward channel unless breacked and vise versa .
  • #15,753
  • Feb 9, 2010 2:01am Feb 9, 2010 2:01am
I have taken a short off the weekly pp 0.8727, will add more if it heads higher.
  • #15,754
  • Feb 9, 2010 2:03am Feb 9, 2010 2:03am
Quoting bernardwong
anyone still holding their short?
Yes, short from 0.8697, stop at 0.8727. I expect I'll be out soon, in which case I'll look for another short at around 0.8780.
  • #15,755
  • Feb 9, 2010 2:08am Feb 9, 2010 2:08am
Quoting bernardwong
anyone still holding their short?
nope
  • #15,756
  • Feb 9, 2010 3:23am Feb 9, 2010 3:23am
Here is an extract from Westpac's bulletin:

In mid December, the Australian dollar was sitting at around 90.5˘. Since that time the AUD has moved in the 93˘ to 86˘ range. We are now sitting at the extreme lowpoint of that area after a run of negative sentiment accumulated in the early part of February. Indeed, the AUD is at its lowest ebb in some time.

We now suspect that the Q1 upsurge we had anticipated exhausted itself around 93˘ rather than at our 96˘ target. The nervous trading in global markets in the year to date is a sign that we are now moving into that “risk aversion” period that we anticipated would result in a 5˘ to 10˘ swing in the currency around mid-year.

As a consequence we have reorganised our near-term forecasts to incorporate a soft AUD through to mid year (June target 85˘), before a rally back to the mid 90˘ area in the second half of the year.

Find a job that you love and you dont have to work again in your life.
  • #15,757
  • Feb 9, 2010 3:27am Feb 9, 2010 3:27am
Placed a limit short .8743, SL 8760, TP .8655
Find a job that you love and you dont have to work again in your life.
  • #15,758
  • Feb 9, 2010 3:33am Feb 9, 2010 3:33am
Quoting Daytrader74
nope
I am holding my short and probably will support it around 8756-60 with another one! My weekly chart shows me aud.usd should fall to 82-83 zone once it breaks 8670!
  • #15,759
  • Feb 9, 2010 3:37am Feb 9, 2010 3:37am
8730 former resistance
  • #15,760
  • Feb 9, 2010 4:12am Feb 9, 2010 4:12am
I sense a drop coming shortly...
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