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AUD/USD

  • #24,121
  • Oct 7, 2010 2:44am Oct 7, 2010 2:44am
I've said it many times before but I'll say it again.... This thing is out of ****ing control!!!!
  • #24,122
  • Oct 7, 2010 2:53am Oct 7, 2010 2:53am
Quoting usapgapro
I've said it many times before but I'll say it again.... This thing is out of ****ing control!!!!
this Aud is WAY WAY OVERBOUGHT!!!
  • #24,123
  • Oct 7, 2010 2:53am Oct 7, 2010 2:53am
Let's all jump onboard and ride it on the way back down!
  • #24,124
  • Oct 7, 2010 2:55am Oct 7, 2010 2:55am
When NY wakes up Zimbabwe's currency is going to be worth more than the Dollar if this keeps up.
  • #24,125
  • Oct 7, 2010 3:01am Oct 7, 2010 3:01am
  •  damo
  • | Joined Aug 2010 | Status: Chart Pattern & Trend Trader | 217 Posts
Well think of the bright side. Next time some nuclear US carrier pulls into Freos docks, I'm gonna throw them a fist full of Aussie green backs and legally buy the whole ship, planes, sailors and all. Then I'm going to sail it to the Abrohils islands and do some fishing for a few months. I might even sell the yanks a few fish back. I bet I can buy a whole 4 x 2 complete with furnishings and pool with every whiting I catch.
Trade what you see, not what you think.
  • #24,126
  • Oct 7, 2010 3:02am Oct 7, 2010 3:02am
Quoting damo
Well think of the bright side. Next time some nuclear US carrier pulls into Freos docks, I'm gonna throw them a fist full of Aussie green backs and legally buy the whole ship, planes, sailors and all. Then I'm going to sail it to the Abrohils islands and do some fishing for a few months. I might even sell the yanks a few fish back. I bet I can buy a whole 4 x 2 with every whiting I catch
Sounds like a plan
  • #24,127
  • Oct 7, 2010 3:03am Oct 7, 2010 3:03am
Well.... this is really out of control... Aus is way way over bought,can't believe it!!! What is really happening???
  • #24,128
  • Oct 7, 2010 3:27am Oct 7, 2010 3:27am
I'm shorting it at MR1 (.9940) if it gets there.

I'm convinced it needs to retrace to attack parity later this month but then this pair seems to be a law unto itself.
  • #24,129
  • Oct 7, 2010 3:38am Oct 7, 2010 3:38am
  •  damo
  • | Joined Aug 2010 | Status: Chart Pattern & Trend Trader | 217 Posts
And it must be real. After all, my Tradeguider software hasn't detected any market manipulation
Trade what you see, not what you think.
  • #24,130
  • Oct 7, 2010 3:39am Oct 7, 2010 3:39am
Quoting slimtrady
I'm shorting it at MR1 (.9940) if it gets there.

I'm convinced it needs to retrace to attack parity later this month but then this pair seems to be a law unto itself.
I practice PA. Maybe waiting for daily candle close today to decide which is the direction A-U to be heading would be appropriate?

I am more concern now should we change our account fund into AUD? EU?

Any idea?

Cheers
  • #24,131
  • Oct 7, 2010 5:08am Oct 7, 2010 5:08am
Quoting itradefx
Well.... this is really out of control... Aus is way way over bought,can't believe it!!! What is really happening???
Look at weekly. It's a parabolic move up. A bubble. It's bound to blow up soon. I suspect somewhere short of parity. But if we break parity, it will be very brief.
Number #1 in PnL and Pips on Dukascopy Trader Contest since 2011
  • #24,132
  • Oct 7, 2010 5:22am Oct 7, 2010 5:22am
wud some one care to provide expert comment on this chart with long term fib extension. Looks beautiful
thanks
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  • #24,133
  • Oct 7, 2010 5:23am Oct 7, 2010 5:23am
The Aussie is looking a little slow..anyone know what would be the next move..at least predict
a severe down side or reversal...thanks
  • #24,134
  • Oct 7, 2010 5:29am Oct 7, 2010 5:29am
  •  damo
  • | Joined Aug 2010 | Status: Chart Pattern & Trend Trader | 217 Posts
Quoting Pipwanderer
The Aussie is looking a little slow..anyone know what would be the next move..at least predict
a severe down side or reversal...thanks
It's slow because its a slow time in the market. It will pick up again at around 2000. However the Aussie is still looking the most bullish and has the most upside movement out of all the currencies.
Trade what you see, not what you think.
  • #24,135
  • Oct 7, 2010 5:32am Oct 7, 2010 5:32am
Quoting damo
It's slow because its a slow time in the market. It will pick up again at around 2000. However the Aussie is still looking the most bullish and has the most upside movement out of all the currencies.
it has reached on all time high...which is quite critical....a nice retracement and may be and upside...i think
  • #24,136
  • Oct 7, 2010 6:07am Oct 7, 2010 6:07am
  •  damo
  • | Joined Aug 2010 | Status: Chart Pattern & Trend Trader | 217 Posts
Just to give you a heads up. The US session often fades the UK session, and, most of the Aussie price rises have occured during the Aussie/Asian/UK sessions.

So maybe, just maybe we may see a small pulback. But remember, so far everytime this has pulled back, it has rallied hard. So if it pulls back tonight, it may scream up to parity tomorrow.
Trade what you see, not what you think.
  • #24,137
  • Oct 7, 2010 6:37am Oct 7, 2010 6:37am
New high just in .99171.
  • #24,138
  • Oct 7, 2010 6:39am Oct 7, 2010 6:39am
Silly question I realise.
What are your thoughts on the how the aussie may move after the unemployment claims news item coming up in an hour?

If the news is better then expected will the Aussie go up as US market should go up?
If the news is worse then expected will the Aussie go up as the US economy is not well compared to the Aussie economy?

Either way Aussie goes up??
I wonder whether we have one more up surge tonight in an attempt to reach parity?

Also price has consolidated the last 4-5 hours - a sign it is getting ready?

Thoughts appreciated.
  • #24,139
  • Oct 7, 2010 6:55am Oct 7, 2010 6:55am
Quoting timster
Silly question I realise.
What are your thoughts on the how the aussie may move after the unemployment claims news item coming up in an hour?

If the news is better then expected will the Aussie go up as US market should go up?
If the news is worse then expected will the Aussie go up as the US economy is not well compared to the Aussie economy?

Either way Aussie goes up??
I wonder whether we have one more up surge tonight in an attempt to reach parity?

Also price has consolidated the last 4-5 hours - a sign it is getting ready?

Thoughts...

You have got to take into consideration that the reason Aussie is so strong has to do with its economy completely dependent on commodity prices as all Aust. is, is just one big open mine. As long as commodity prices remain high the country as a whole will do well.

Taking into consideration the employment numbers today, if they are good gold being the safe haven that it is should go down because more people will hypothetically have more faith in the US and because of gold going down the Aussie should follow.

Trick is to look at Gold with the Aussie before anything else.
  • #24,140
  • Oct 7, 2010 6:57am Oct 7, 2010 6:57am
  •  damo
  • | Joined Aug 2010 | Status: Chart Pattern & Trend Trader | 217 Posts

  1. I have found that news doesn't impact so much during the US session.

  1. Regardless of news, it often breaks into the direction of the trend, and if it doesn't, the swing does not last long.

  1. The Aussie has already moved beyond its average daily range, (about 165 pips), so a move beyond this is unlikely.

I think that:

 

  1. nothing will happen
  2. the news will trigger price movement in the direction it is already going. (either continue the uptrend to infinty or break down into its regular US pullback).

You pick which one.

Trade what you see, not what you think.
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