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  • #20,161
  • Mar 29, 2010 3:16am Mar 29, 2010 3:16am
Quoting George C
Well, the 4H candle just closed with no immediate reversal indications. I agree that we're now at a major resistance level - if it shoots through that, there doesn't seem to be anything to stop it before 0.9200.

EDIT: Though I suppose if you go by the downward trendline, there could be a resistance at approximately 0.9160 as the trend attempts to reassert itself.
The only thing I got between here an 92 is ~91631. But that is a minor S/R. We'll see what 91365 brings though.
  • #20,162
  • Mar 29, 2010 3:22am Mar 29, 2010 3:22am
well , this rally is very confussing but ,, what makes me think it ll reverse down later is the Dollar index ,,, it looks like it still has some upside to go ,, its very common on this chart to find side ways trades on mondays and if u take a look at this DIX , i suspect we gonna have a bullish happer by the end of the day to provoke some more dollar gains to the end of the week , today if it holds and form the hummer it ll shape the trend in the rest of the week
  • #20,163
  • Mar 29, 2010 3:28am Mar 29, 2010 3:28am
Quoting Jesus4748
well , this rally is very confussing but ,, what makes me think it ll reverse down later is the Dollar index ,,, it looks like it still has some upside to go ,, its very common on this chart to find side ways trades on mondays and if u take a look at this DIX , i suspect we gonna have a bullish happer by the end of the day to provoke some more dollar gains to the end of the week , today if it holds and form the hummer it ll shape the trend in the rest of the week

Hummer???
  • #20,164
  • Mar 29, 2010 3:32am Mar 29, 2010 3:32am
What a rally! If you look at the channel it's been in for the last 2 weeks then there is something of a ceiling at 9150. It 'should' consolidate closer to 9100 before resuming upwards, assuming it's a new trend. If not then the big cycle kicks in again and we are on the way to 8300

Today the RBA warned Aussie citizens about our obscene levels of private debt and the market completely ignored them!
  • #20,165
  • Mar 29, 2010 3:33am Mar 29, 2010 3:33am
Quoting Saxon
The only thing I got between here an 92 is ~91631. But that is a minor S/R. We'll see what 91365 brings though.
I live in Geneva, through I travelled to Zurich on business quite a few times. Our dear ACM friends are just a few floors up from the gym I go!

At the risk of jinxing it, seems like the move has run out of steam; now, do the bears have what it takes to bring the bugger back down where it belongs, or is it just a calm before the resumption of the storm?
  • #20,166
  • Mar 29, 2010 3:35am Mar 29, 2010 3:35am
Quoting Saxon
The only thing I got between here an 92 is ~91631. But that is a minor S/R. We'll see what 91365 brings though.
has it been answered? i think 9150 next
  • #20,167
  • Mar 29, 2010 3:35am Mar 29, 2010 3:35am
Oh bugger - just as I posted it, the pair seems to have taken off again.
  • #20,168
  • Mar 29, 2010 3:36am Mar 29, 2010 3:36am
Quoting George C
Oh bugger - just as I posted it, the pair seems to have taken off again.
ya haha, approaching the upper TL actually it did touch
  • #20,169
  • Mar 29, 2010 3:37am Mar 29, 2010 3:37am
Quoting jrushing
Hummer???
Did you just say 'enlighten us' to Jesus?

Sorry, Monday morning, ahem.
Anyone even paying any attention to the bullish divergence I mentioned? No? OK then, carry on...
  • #20,170
  • Mar 29, 2010 3:37am Mar 29, 2010 3:37am
Quoting tradoholic
I think fundamentally one of the reasons that it went up as much as it did was the Gold upside move, which was sparked due to the Korean Warship tension. Once that settles, Gold will find its way back down and so will the AUD, just my 2Cents.....

Stevens had some interesting comments:

http://www.theaustralian.com.au/busi...-1225846756851
  • #20,171
  • Mar 29, 2010 3:41am Mar 29, 2010 3:41am
It's interesting that NZD is going the other way

Oh ya, I read that article. King mind-games himself, Mr. Stevens.
  • #20,172
  • Mar 29, 2010 3:43am Mar 29, 2010 3:43am
Worth looking at last week's cot reports. Aussie was being bought by large traders and yen was sold. This happened while Aussie stalled.
This week could see Aussie catch up with the moves of Sterling.

Curiously, Sterling short positions were increased last week by large traders.
  • #20,173
  • Mar 29, 2010 3:46am Mar 29, 2010 3:46am
Quoting Saxon
Oh ya, I read that article. King mind-games himself, Mr. Stevens.
Totally! I think he is talking tough to try and curb borrowing without having to wreck our economy with extra rate rises. Another hike next month would be surprising.
  • #20,174
  • Mar 29, 2010 3:49am Mar 29, 2010 3:49am
Quoting ukdaytrader
Worth looking at last week's cot reports. Aussie was being bought by large traders and yen was sold. This happened while Aussie stalled.
This week could see Aussie catch up with the moves of Sterling.

Curiously, Sterling short positions were increased last week by large traders.
Check out COT Large and Commercial. Something's gotta move.
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  • #20,175
  • Mar 29, 2010 3:49am Mar 29, 2010 3:49am
Quoting ukdaytrader
Did you just say 'enlighten us' to Jesus?

Sorry, Monday morning, ahem.
Anyone even paying any attention to the bullish divergence I mentioned? No? OK then, carry on...
hummer !!! ,. its a bullish candlestick formation , signaling a bullish move up on the way after a support holds the trend
it might form on the Dix today ,, end of the day if we found some pullback in the risk by the end of the day
  • #20,176
  • Mar 29, 2010 3:49am Mar 29, 2010 3:49am
Quoting ukdaytrader
Did you just say 'enlighten us' to Jesus?

Sorry, Monday morning, ahem.
Anyone even paying any attention to the bullish divergence I mentioned? No? OK then, carry on...

yes I did, I have not seen a hummer and would like to know what it looks like, i saw the divergence on the Daily , but there is just not enough push to make this a bull rally, the USD has too much support at this time and MM are just taking what they can get at this point. But interesting developement. we will see here shortly if the pips are up or down.
  • #20,177
  • Mar 29, 2010 3:51am Mar 29, 2010 3:51am
Quoting Jesus4748
hummer !!! ,. its a bullish candlestick formation , signaling a bullish move up on the way after a support holds the trend
it might form on the Dix today ,, end of the day if we found some pullback in the risk by the end of the day
from my prospective 9150 is the key for upside , if it breaks it then we gonna see this trend over 92 and more push up might follow , i have a feeling it ll start pulling back now till the end of the day
  • #20,178
  • Mar 29, 2010 3:52am Mar 29, 2010 3:52am
is it the roof right there?
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  • #20,179
  • Mar 29, 2010 3:52am Mar 29, 2010 3:52am
Quoting Squarepants
Totally! I think he is talking tough to try and curb borrowing without having to wreck our economy with extra rate rises. Another hike next month would be surprising.
Ya, next month will be interesting.
  • #20,180
  • Mar 29, 2010 3:54am Mar 29, 2010 3:54am
Quoting George C
Another possible resistance will be the touch of the downward trendline - draw it on the 4H charts and see for yourselves. If nothing else, I'd expect the price to stall there as the market decides whether the bearish trend will resume.
Ya, i think that might be the roof that George was looking at OvT.
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