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AUD/USD

  • #16,721
  • Feb 17, 2010 7:16am Feb 17, 2010 7:16am
I draw a channel In a daily chart and I think this level back down (0.8861) will be reached in the next 5 trading days


I agree is hard for the AUD to break 0.9040 so I decided to sell

bollinger bands are already touched in the upper part of the trend the retracement shows as low as 0.8825 so I aim for a bit higher

By the way this is my first post
  • #16,722
  • Feb 17, 2010 7:17am Feb 17, 2010 7:17am
Quoting forexer101
that's too bad. my MT does not have any of the CAD cable. would you mind posting your chart here?
Here

Attached Image
  • #16,723
  • Feb 17, 2010 7:19am Feb 17, 2010 7:19am
Quoting forexer101
it shows 0.9050. Getting confused here, lol.. anyway the weekly candle shows it's at the peak right now, almost completely bullish with volume much less than last week.. hmm..
The average weekly range for the last 52 weeks has been 282 pips. We've done 187 pips so far this week (low of 0.8848 and high of 0.9035). I think the Fed minutes this evening will decide which way we go for the rest of the week - 100 pips up or 300 pips down. Place your bets
Nothing worth having is easy.
  • #16,724
  • Feb 17, 2010 7:20am Feb 17, 2010 7:20am
i feel glad, some of you thinking to take a short transaction, so i'm not alone again, ha3. btw the US economic news is in a good number yesterday for the TIC long time purchase. but for AUD/USD pair, this news have a reverse effect, today there will be a US building permit news. so let see if this gonna good or bad, and the effect will be a reverse or not. really confusing for me.
  • #16,725
  • Feb 17, 2010 7:24am Feb 17, 2010 7:24am
Quoting Clouds
Here

Attachment
Interesting.. thx Clouds

it seems that AU is starting it's slide now
  • #16,726
  • Feb 17, 2010 7:24am Feb 17, 2010 7:24am
Quoting yeri
i feel glad, some of you thinking to take a short transaction, so i'm not alone again, ha3. btw the US economic news is in a good number yesterday for the TIC long time purchase. but for AUD/USD pair, this news have a reverse effect, today there will be a US building permit news. so let see if this gonna good or bad, and the effect will be a reverse or not. really confusing for me.
i'm mainly just long dollar,

I think aud is in denial

anyway, the monthly momentum is down
  • #16,727
  • Feb 17, 2010 7:26am Feb 17, 2010 7:26am
4 minutes, to big news. I can't believe I'm awake
  • #16,728
  • Feb 17, 2010 7:32am Feb 17, 2010 7:32am
Need below .90 to really get party started
  • #16,729
  • Feb 17, 2010 7:33am Feb 17, 2010 7:33am
Quoting Clouds
Need below .90 to really get party started
My party is already started lol I still got my shorts and will be riding this baby all the way down
  • #16,730
  • Feb 17, 2010 7:38am Feb 17, 2010 7:38am
Quoting Daytrader74
My party is already started lol I still got my shorts and will be riding this baby all the way down
Possibily .9016, for break of bear flag
  • #16,731
  • Feb 17, 2010 7:38am Feb 17, 2010 7:38am
Euro has been pretty good to me but for some reason DOW is not moving! Very strange. I thought with the news it will atleast drop 50 points
Find a job that you love and you dont have to work again in your life.
  • #16,732
  • Feb 17, 2010 7:38am Feb 17, 2010 7:38am
Why are you guys bearish on AUD/USD on higher TF?

I see traders are saying they are targetting 0.82 but why?

Aud economy is on growth path and there is going to be rate hike next month- so why traders are bearish on AUD/USD on higher TF?
  • #16,733
  • Feb 17, 2010 7:39am Feb 17, 2010 7:39am
Quoting Patience
The average weekly range for the last 52 weeks has been 282 pips. We've done 187 pips so far this week (low of 0.8848 and high of 0.9035). I think the Fed minutes this evening will decide which way we go for the rest of the week - 100 pips up or 300 pips down. Place your bets
Down please.
  • #16,734
  • Feb 17, 2010 7:43am Feb 17, 2010 7:43am
Quoting kingfisher
Why are you guys bearish on AUD/USD on higher TF?

I see traders are saying they are targetting 0.82 but why?

Aud economy is on growth path and there is going to be rate hike next month- so why traders are bearish on AUD/USD on higher TF?
Momentum is down, and longer time frame looks toppish - Even shorter time frame, it's just rallied, so I'm not sure there's many buyer up here

Attached Image
  • #16,735
  • Feb 17, 2010 7:43am Feb 17, 2010 7:43am
Quote
its 20 hour, simple moving average
also, i was just doing some research with eur/aud, and it seems it's at the bottom of it's channel at 1.52, (If i were to buy eur/aud, i'd go for 300-400 pips, but i'm already in position) which suggests down for aud/usd

You are right. EUR/AUD is kissing bottom.

I am still waiting for trend reversal in AUD/USD. I will see price action at 0.91 to decide the course of action.
  • #16,736
  • Feb 17, 2010 7:43am Feb 17, 2010 7:43am
Quoting davidmaria1
Down please.
Shall I ask Bernanke to drop the words "extended period" for you? I can't see that there will be much change since he reiterated last week about keeping interest rates low blah, blah, blah. I don't feel like shorting that weekly candle yet though.
Nothing worth having is easy.
  • #16,737
  • Feb 17, 2010 7:48am Feb 17, 2010 7:48am
Quoting kingfisher
You are right. EUR/AUD is kissing bottom.

I am still waiting for trend reversal in AUD/USD. I will see price action at 0.91 to decide the course of action.
If we get there, cause usd/cad is at the famous 1.04 and has bounced
  • #16,738
  • Feb 17, 2010 7:50am Feb 17, 2010 7:50am
good/bad news from the US seems to have the opposite effect sometimes... from what i understand good news could create risk appetite... and, given the favourable interest rate differential on the AUDUSD, and with Australias economy doing relatively well, and with a foreseeable hike in interest rates for the AUD... it could favour a bullish bias...

on the other hand if the news from the US is bad it could create a demand for USD due to risk aversion... and hence a bearish bias on AUDUSD

could be entirely wrong on this maybe others with a bit more experience can explain it better.
  • #16,739
  • Feb 17, 2010 7:51am Feb 17, 2010 7:51am
Quoting Geppyg
Hope these help
Although we might have broken the TL we still have not closed above it....
I am still waiting for a short entry...dont think we seen the end of the upmove...

Shorting area for me according to my charts is the 9055-65 zone untill then...will wait it out....

9017 becomes an important break point as it is a new 2 hour TL.....

Good Luck
Let Price determine your future!
  • #16,740
  • Feb 17, 2010 7:51am Feb 17, 2010 7:51am
what happened to your longs?

Quoting Daytrader74
My party is already started lol I still got my shorts and will be riding this baby all the way down
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