AUD/USD

it is truly expensive to sell AU$ against US$
i want to hold either bid or offer for a week i hate scalping cuz i i have to pay 5 pips comission each time i open position. each time i open position i get -8 pips directly (5 pips comission and 3 spread)

just book my profits at 98.80 few hours ago seems like this pair can not go to my expected range 99.20/60 and i'm worried about the effect of flood disaster at Queensland

demand zone tested several times - still holding prices north

Yes i agree there mate!...that rollover charge per 1 Aud/Usd stands at £1.75 with my broker! It did hurt initially...until i started collecting the profits

As of last week, its paid its way, for the holding that i have until end June/July...especially what i cashed last night
Still closed them positions about 50 pips on average between them...TOO EARLY!

Technically its ripe for a "Massive Correction", which is why the probabilities are stacked against the longs.
Fundamentally, its already factored in the commod's, interest, jobs etc..infact they forgot that God always has the last say...and the flooding now in Australia was NOT on the cards...hence the economic effect will last far too long in todays global austerity trading arena...China tighteneing etc..

Its also been noted..the big boys have left the party at parity and above!

For those reasons...regardless of the yield on long...imo, those holding will be in for a shock as the tide turns in a huge price corrective manner!
Remember some of these rallies have been nothing more then Christmas rally..New Years Rally....since when have these periods been known as fundamental!!!!!!!

Expecting 0.8600-0.8900 without any doubt...watch out for the drip below 0.9750-0.9700 area, where lurks a huge hole straight down to 0.9350-0.9400!...this will trigger retests of 0.9000 and below.

Just my penny's worth...as this is my opinion..based on my calculations with a Scientific Panasonic Calculator

Its a lonely place trading..especially when the tide is turning and we choose to ignore.
As they say, all for their own!
All the best

Good Post Petra...nobody can predict the time frame...but we all have a "gut feeling". Sometimes you know....sometimes you can feel you know....sometimes you ignore the feeling and wish you hadn't...

Like i stated earlier regarding the strength of the A$...mentioned re England supporters visiting from the US having to pay $10 for 10 peices of chicken nuggets!!....effects on tourism....in a country now devastated by the floods which is partly calculated to cost as much as £13 Billion!..and counting...

bearish flagpole @ intraday demand zone, if it holds true, dollar weakens now through to next session



still holding aud north

ely take a look at this clock also.
http://www.forexfactory.com/showthread.php?t=109305

Cheers Peter

Wander if anyone knows if there is any multiple world clocks that stay on the task bar..that would suit me fine.

Hi Ely,

I use this multi world clock. I like it because it has a forex profile for Sydney, London, Tokyo and New York

In which case, your broker is robbing you blind. Go to Oanda, very low spreads, no commission and they pay you interest daily on your AUD account balance whether in a trade or not. Oanda have the lion's share of retail traders, for good reason.

http://fxtrade.oanda.com/

AU 15M ascending wedge, reasonably reliable as patterns go.... price should break out above the horiztonal yellow line, but may need to wait till housing data @ 8.30pm. Any pullback may be worth looking at a nice long entry.

Thanks StaticX

A big dog entered the market... pushing it down!

Anyone know why it just dropped 20pips in the last minute?

A big dog entered the market

Or maybe some big bull just exited taking its profit!

In such a case would you expect it to bounce back pretty quickly?

You are a bull? c'mon how can you still believe this thing will go up again?!


You should have learned already: The cake is a lie!

http://sarcasticgamer.com/wp/wp-cont...e-is-a-lie.png

stupid me shorted the wrong pair ...
been shorted EUR/USD instead of AUD/USD... would be
easy $$$...Soon or later they would factor in the flood

There's nothing in the news, but what did happen was 5pm US ET which is when many brokers pay out their interest rate swaps.... sometimes price can hold up until this point then drop before recovering (or not). This could be the cause of the spike, in the absence of any news.

Looks like that Big Dog just set the price for entering short. We should be breaking the weekly support today so im looking at around 9730 area for price to head