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AUD/USD

  • #22,741
  • Aug 27, 2010 7:58am Aug 27, 2010 7:58am
Hedge funds buying aud/usd last 89.05
  • #22,742
  • Aug 27, 2010 8:35am Aug 27, 2010 8:35am
I would say this is interesting sell area for few pips...

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  • #22,743
  • Aug 27, 2010 10:55am Aug 27, 2010 10:55am
Clear break above this trendline, anyone think the 50 fib will hold this thing down, also could it end up being some kind of double top at ~92?

Heard an interesting fact about the 2nd to last trading day in Aug. apparently only once in the past 13 years has it been a positive day for US equities, I say this b/c a turn in the markets on Monday should mean this pair may give back its gains.

I was a little caught off guard today, I really thought it was going to be a down day, GDP numbers weren't as bad as I thought they were going to be.
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This is what awesome feels like
  • #22,744
  • Aug 27, 2010 11:31am Aug 27, 2010 11:31am
On M5, M15, M30, H1 timeframe rsi is overbought, i think it should cool down a little bit, so i expect a retracement.
  • #22,745
  • Aug 27, 2010 1:12pm Aug 27, 2010 1:12pm
I took A/U last night also before the breakout.
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  • #22,746
  • Aug 27, 2010 5:12pm Aug 27, 2010 5:12pm
A/U

This is how I see things...plus a little H&S on S&P 500
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When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #22,747
  • Aug 27, 2010 6:14pm Aug 27, 2010 6:14pm
Quoting tomasz
I just collected 26pips and waitting to see what is next.
+115 pips and trusting only day charts & longer
  • #22,748
  • Aug 27, 2010 8:14pm Aug 27, 2010 8:14pm
Aussie might retrache back up to 0.91 level (might be wrong) due to what BB said on friday. I hope this will be the last retrachement, so have a nice week end!


Good Trading Mate
Logics do not apply in FOREX
  • #22,749
  • Aug 29, 2010 11:02pm Aug 29, 2010 11:02pm
Quoting kandarv
I'll love to buy the aussie, but...
http://cdn.forexfactory.com/attachme...1&d=1282792339
Apparently, there was a buy signal. The better than expected U.S. GDP helped a lot on risk appetite, driving the pair up all U.S. friday session.

Now I'm waiting for a return to the .8880's level.
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  • #22,750
  • Aug 29, 2010 11:37pm Aug 29, 2010 11:37pm
Quoting kandarv
Apparently, there was a buy signal. The better than expected U.S. GDP helped a lot on risk appetite, driving the pair up all U.S. friday session.

Now I'm waiting for a return to the .8880's level.
What are the red levels on your last chart, please?
  • #22,751
  • Aug 30, 2010 7:50am Aug 30, 2010 7:50am
Quoting kandarv
Apparently, there was a buy signal. The better than expected U.S. GDP helped a lot on risk appetite, driving the pair up all U.S. friday session.

Now I'm waiting for a return to the .8880's level.
Donot buy it. Just look at monthly chart.
Doesnot it look like a top?

It is possible that you will make a little profit, only to become a loss when you wake up the next morning.
  • #22,752
  • Aug 30, 2010 9:31am Aug 30, 2010 9:31am
Quoting ikdenk
What are the red levels on your last chart, please?
Just previous levels of S&R. Nothing fancy, drawn by hand.
  • #22,753
  • Aug 30, 2010 9:41am Aug 30, 2010 9:41am
Quoting mry2001
Donot buy it. Just look at monthly chart.
Doesnot it look like a top?

It is possible that you will make a little profit, only to become a loss when you wake up the next morning.
I'm not buying this pair. Looking at the monthly, I really can't see anything, it is not clear to me but fundamentally, this pair is going down to my believe.
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  • #22,754
  • Aug 30, 2010 3:32pm Aug 30, 2010 3:32pm
Here's my 1H Elliot Wave Count for the pair. I've been long this pair at around these levels for a week or so as this count has unfolded. 0.8770 is the 38.2% retracement off of the 0.8080 low to the 0.9220 high. 0.8770 is also an exact 50% retracement of Wave 3 of that move, so a little bit of confluence going on there. Ultimately, I think this pair will turn south as the macro outlook is poor for risk overall for a long, long time, but not before a new mid-term high is achieved (93.00???). At least this is what my EW count is telling me. Thoughts? Criticisms? Insults?
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"If it was good enough for Gann, it's good enough for me..."
  • #22,755
  • Aug 30, 2010 3:36pm Aug 30, 2010 3:36pm
I do have an alternate count that suggests that this isn't an ABC correction but a WXY(Z) correction, which would take much longer to complete and a lot more complex. I am so hoping this isn't the case.
"If it was good enough for Gann, it's good enough for me..."
  • #22,756
  • Aug 30, 2010 3:41pm Aug 30, 2010 3:41pm
Quoting FFBrian13
Here's my 1H Elliot Wave Count for the pair....
I'm sorry but I can't see your chart very clear, it's very blurry. On the other hand, I also think that the aussie is heading south, not sure about a mid-term high, we already got it @~0.9050.
  • #22,757
  • Aug 30, 2010 8:42pm Aug 30, 2010 8:42pm
Nice looking data, I'm thinking this could take us back to a test of 90
  • #22,758
  • Aug 30, 2010 9:37pm Aug 30, 2010 9:37pm
Quoting Gar
Nice looking data, I'm thinking this could take us back to a test of 90
Doesn't look enough to retest .90
  • #22,759
  • Aug 30, 2010 10:51pm Aug 30, 2010 10:51pm
Quoting FFBrian13
Here's my 1H Elliot Wave Count for the pair. I've been long this pair at around these levels for a week or so as this count has unfolded. 0.8770 is the 38.2% retracement off of the 0.8080 low to the 0.9220 high. 0.8770 is also an exact 50% retracement of Wave 3 of that move, so a little bit of confluence going on there. Ultimately, I think this pair will turn south as the macro outlook is poor for risk overall for a long, long time, but not before a new mid-term high is achieved (93.00???). At least this is what my EW count is telling me. Thoughts?...
From a macro-economic point your correct. Investor sentiment is being tested on a regular basis and while it will take a lot to turn that sentiment positive, it will take very little to turn it further negative. Even buying and holding for a mid-term high is risky as this week's economic news has the potential to show further weakness in the economy. Buying dollars and holding for the long term may not be a bad idea until things start to look a little clearer with the economy. The safe haven currencies should definitely get a boost in the comming weeks unless something drastic happens that can change the current negative sentiment in the marketplace
  • #22,760
  • Aug 31, 2010 4:46am Aug 31, 2010 4:46am
I think a major test of 87's is on the cards now.
Just entered again at 88.90
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