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AUD/USD

  • #26,901
  • Jan 10, 2011 3:41am Jan 10, 2011 3:41am
holding long stops @ 0.98789 - added long
  • #26,902
  • Jan 10, 2011 3:50am Jan 10, 2011 3:50am
Quoting redsword11
holding long stops @ 0.98789 - added long
Trying cautious long @ 0.9903
USDX still indecisive
Don't be a hero. Don't have an ego. Always question yourself
  • #26,903
  • Jan 10, 2011 3:55am Jan 10, 2011 3:55am
I must be the contrarian. I went short at 0.9915. I am looking for the trendline/fib break. I figured the setup has a good risk/reward ratio. I may end up being wrong, but if it works out it will be a good earner.
  • #26,904
  • Jan 10, 2011 3:59am Jan 10, 2011 3:59am
Quoting Westy_10.9
I must be the contrarian. I went short at 0.9915. I am looking for the trendline/fib break. I figured the setup has a good risk/reward ratio. I may end up being wrong, but if it works out it will be a good earner.
It could go either way imo, good luck!
Don't be a hero. Don't have an ego. Always question yourself
  • #26,905
  • Jan 10, 2011 4:54am Jan 10, 2011 4:54am
just gone long

targetting 1.0186 !

Put your hands in the air , Give me all your money ! !
  • #26,906
  • Jan 10, 2011 5:16am Jan 10, 2011 5:16am
Quoting Ma Baker
just gone long

targetting 1.0186 !

Good timing Ma
Don't be a hero. Don't have an ego. Always question yourself
  • #26,907
  • Jan 10, 2011 5:17am Jan 10, 2011 5:17am
Just went long as well looked beautiful on the 1 hr chart.
  • #26,908
  • Jan 10, 2011 5:31am Jan 10, 2011 5:31am
Quoting blackcat2
That's my initial thought as well but from news release, it only move down south by 20 pips which looks to me like a normal trading..

Maybe the news doesn't have that much effect or is there something else at play? Any thoughts from veterans, seniors or fundamentalist?

I'm mainly technical trader but lately the fundamental elements have pique my interest. I also have a real acc trade in AUD that's trapped on short position when AUD exploded north and still haven't been able to close it (small position), so I'm waiting for it to go my way so...

Why close it at BE..when its now on the road to 0.8600?
Easy money down to 0.8900/0.9000 atleast, even though 0.8600 looks ripe to be tested.
  • #26,909
  • Jan 10, 2011 5:38am Jan 10, 2011 5:38am
Strong resistance at 0.9910, it is unlikely that Aussie will break it without good news.. but we'll see.
  • #26,910
  • Jan 10, 2011 5:43am Jan 10, 2011 5:43am
Quoting grashid
http://www.forexfactory.com/showpost...ostcount=26794

0.996/0.998 is the gate for this...i am waiting to add my short if she touch as per above link/previous post....

remember.... overall trend confirmed = down and this is just small retracement....

scalping should be good next week until Thursday..then only we able to see a real movement...

good luck
g
  • #26,911
  • Jan 10, 2011 5:56am Jan 10, 2011 5:56am
Quoting grashid
You don't have to yell grashid, besides that, as long as LTL is not broken I do not see a downtrend.....

D1:
Attached Image (click to enlarge)
Click to Enlarge Name: Picture0119.png Size: 33 KB
Don't be a hero. Don't have an ego. Always question yourself
  • #26,912
  • Jan 10, 2011 6:02am Jan 10, 2011 6:02am
Quoting USD-Bear
You don't have to yell grashid, besides that, as long as LTL is not broken I do not see a downtrend.....

D1:
Attachment
mate..i know u so many year....but i am suprice u guys keep looking for long...

today=monday open? any daily close yet? gold? weekly? c-mon guys.....make it simple

anyway good luck to u guys...am done in AUD...look for other pair next...

chow

g
  • #26,913
  • Jan 10, 2011 6:06am Jan 10, 2011 6:06am
people. i would advise all you that went long at 0,9900-10 to reverse position immediately if breaks 0,9880. and the way i see it ...it will. overall trennd is still up but in the shortterm i believe it will keep falling.
  • #26,914
  • Jan 10, 2011 6:16am Jan 10, 2011 6:16am
for me i rather shorting than go long
trend is ur friend, remember that quote...
  • #26,915
  • Jan 10, 2011 6:20am Jan 10, 2011 6:20am
I am also a short

greetings
  • #26,916
  • Jan 10, 2011 6:26am Jan 10, 2011 6:26am
I would rather wait for the news, meanwhile I'm looking forward at another pair.
  • #26,917
  • Jan 10, 2011 6:27am Jan 10, 2011 6:27am
Quoting grashid
mate..i know u so many year....but i am suprice u guys keep looking for long...

today=monday open? any daily close yet? gold? weekly? c-mon guys.....make it simple

anyway good luck to u guys...am done in AUD...look for other pair next...

chow

g
Thanks for the explanation grashid, being not as experienced as you, you're prob. right but what I see:
1. any daily close yet: no not yet but LTL is very near and agree it's a little like trying to catch the falling knife
2. Gold: I agree not helping but there are more factors then Gold alone.
Commodities-bull still roaring very strong
3. 81.50 still a critical level for USDX we need a little time for this...
Don't be a hero. Don't have an ego. Always question yourself
  • #26,918
  • Jan 10, 2011 6:33am Jan 10, 2011 6:33am
Economically, this is now a different story!
Expecting a quick retraction of the Aus$ towards 0.8000.

Target remains 0.8600-0.8900



Flood disaster hits economy hard

The economic cost of the Queensland floods has been estimated at more than $6 billion.

The damage to the economy comes as Queensland's flood-stricken coal industry braces itself for prolonged shut-downs.

London-listed Anglo American, one of the Australia's top-three miners of steel-making coal, said it could take weeks to drain its pits and resume digging.

Anglo has about seven coal mines in Queensland, which accounts for most of Australia's coking-coal exports, which in turn account for two-thirds of global exports.

Anglo's major rivals, Rio Tinto, Xstrata and BHP Billiton, have also been hit by the floods, the worst in at least 50 years.

They have been forced to declare force majeure, which companies can evoke to release them from delivery obligations.

The flooding has begun to recede in some coal fields, but all four major producers continue to face supply disruptions and have yet to say when operations would return to normal.
  • #26,919
  • Jan 10, 2011 6:41am Jan 10, 2011 6:41am
AUD/USD hovers near 3-week low as tepid data weighs
10-01-2011

The Australian dollar remained close to a three week low against its U.S. counterpart on Monday after China, Australia’s largest trading partner, posted a smaller-than-expected trade surplus and after tepid domestic retail sales data.

AUD/USD hit 0.9911 during late Asian trade, the daily low; the pair subsequently consolidated at 0.9922, shedding 0.35%.

The pair was likely to find support at 0.983, the low of December 16 and resistance at 1.0014, last Thursday’s high.
  • #26,920
  • Jan 10, 2011 7:09am Jan 10, 2011 7:09am
Quoting ely
Why close it at BE..when its now on the road to 0.8600?
Easy money down to 0.8900/0.9000 atleast, even though 0.8600 looks ripe to be tested.
Hi Ely,
I don't know how long it's going to take to get down to that level. I don't normally keep my position longer than 1 day, so my analysis normally don't go further than 1 day too.. I have 15M, 1H, 4H and 1D chart.. nothing there to suggest that it might go down easily to 0.9000 level..

I've holding this position since last year and the carry over interest is making me nervous...

Can I ask what is supporting your analysis that AUD will go down to 0.9000? I'm new to the game so I want to learn from as much as I can...

Thanks
BC
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