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AUD/USD

Quoting Cowboy11
It is good time to go long from now. Just pick a good price around 0.8970
Make 51 pips
Face both Win and Lose bravely
Wait for good opportunity to go long again.
Face both Win and Lose bravely
I agree. I am also waiting.

Quoting Cowboy11
Wait for good opportunity to go long again.
Same here.

Don't see myself shorting this pair in the near future.
looks AUDUSD is ranging now.
More holes burned through my lcd
Annoying Precision
Out to do something, missed the low.
Aud is up from the D1 chart.
Face both Win and Lose bravely
Short as well here now @ 9005 (when we bounced for the third time from that area up here) SL @ 9020 at the moment.
If I am again I will close it for some green pips lol[/quote]

Got similar setup however I missed that point and opened short at 0.8995

Reasons:
- been in a trading range between 0.8860 (38.2 Fibo) and 0.9040 (61.8 Fibo) These Fibo levels are the retracements of latest decline in January on daily chart.
- 4hr chart shows a double top arounds this level with bearish divergence on Stochastic
- last hour's candle was a shooting star firmly showing the rejection of higher levels (8am GMT)
- RBA decision was as expected and even the rate is slightly up, the outlook for worldwide demand of commodities is not too bright:
http://www.bloomberg.com/apps/news?p...d=asCUlkeRDCzc

I believe USD will crash eventually and Oz will come out of the mess as a winner (because of its resources) but this will not happen in the short term.
Quoting sinner-
To make new highs or lows new money must enter the market or old positions must be cashed in to free up capital for new ones.

If everyone is long, there are no buyers left and we are definitely going down.

As long as China keeps showing up on the bid then not "everybody" is long yet.

Until China stops buying export commodities from us, they will not stop showing up on the bid, no matter how low it goes.

Ironically, this "putting a floor under" type effect is the one thing an export economy really cant afford.
Yes I agree. Do you think this is why we have not seen a rally on today's news?

Europe is still not coming to the party, perhaps US will oblige..
Quoting global-case

I believe USD will crash eventually and Oz will come out of the mess as a winner (because of its resources) but this will not happen in the short term.
If the USD crashes there are other major currencies that will crash before that happens.

I am Bullish on the AUD.
you are so wrong. currently there is a correlation, but AUD is such a good currency backed by real productivity and say ' better managed money supply' than other majors.

I think it will just be going higher towards parity
Resources, schmesources. If the US really is toast then so are we. Who do you think buys all of China's crap?

Australia is a one-trick pony whose amazing luck has seen us sail relatively unscathed, all the while patting ourselves on the back for it. I still love my country but we should be under no illusions that we are better than everyone else.
Quoting Squarepants
Resources, schmesources. If the US really is toast then so are we. Who do you think buys all of China's crap?
Other emerging Asian countries perhaps?
Quoting notoSCUM
you are so wrong.
Who's wrong?
my thoughts are, china is investing huge amounts of money, australia are selling commodities to china. If the rest of the world is still struggling people wont be buying what china has made, possibly causing them problems and taking australia with them
Interested, waiting for confirmation.
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It's looking bearish, there, sinner. And I am also seeing a bit of bearish divergence. I think commitment of bulls might be found wanting now the rate hike is over and done with.
Gone to a better place
Can any body explain why the USD has been getting weak in the past hour or so? I have checked all sites looking for some breaking news or something but cant see anything. Anyone kows?
Find a job that you love and you dont have to work again in your life.
Quoting smikester
It's looking bearish, there, sinner. And I am also seeing a bit of bearish divergence. I think commitment of bulls might be found wanting now the rate hike is over and done with.
Nothing seems to fit I dunno.

But EURGBP is in crisis mode.

Oil finally slipped back under 80 today, but Nikkei HSI SPY FTSE DAX all chugging along.
I know what you mean by nothing seems to fit. Yesterday very volatile for a Monday.

Chart:

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This is not a bearish trade call. I just wanted to post this because I noticed it.
Gone to a better place
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