I was expecting a possible turnaround here, not looking likely though. I won't be shorting until we drop below the TL.
http://i288.photobucket.com/albums/l...f?t=1294854639
http://i288.photobucket.com/albums/l...f?t=1294854639
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DislikedAll cleared... really, from what I see, there is nothing but blue skies for the next 50-60 pips upwards. Unless I am missing something drastic.Ignored
Disliked"AUD/USD:Our outlook has turned aggressively bearish in this pair following the formation of a bearish reversal week. This now suggests that a major high is in place by 1.0260, with the market looking to potentially carve out a medium-term double top to be confirmed on a break below neckline support at 0.9535. As such, we look for continued declines towards 0.9535 over the coming days. A break below this level will then expose a measured move objective by the 0.8770 platform base from August 2010. In the interim, any intraday rallies should...Ignored
DislikedIn the news on this side of the world, Thursday is suppose to be catastrophic for the floods. A lot of my friends from Brisbane have been evacuated and their homes are meant to be going under today.
The whole of Queensland is on hold, this must be destroying their economy, and their PM Julia Gillard has said the govt is still looking to run a surplus. So it doesn't look like extra government spending will prop up the economy.
So we should see a whole lot more of these floods in the news, which I think, will bring the bears back into the fight....Ignored
Dislikedi wish that aussie traders will not fight each other with words because this is market, bulls and bears can win --> the pips get slaughtered ^^Ignored
DislikedAll PPAs around 0.9910 have been broken.. so it might go all the way to 0.9950 where there's EMA150 in 1H.
My stochastics in 15M and 1H shows overbought so maybe it won't go that far.. I'm staying at the sideline at the moment.. I have bias for short but it looks like it's a long trend...
Any thoughts?
Cheers...
BCIgnored
DislikedI find it curious how this pair has disconneted from equites over the last couple of weeks. Throughout most of Nov. and Dec., A/U pretty closely shadowed equity markets. Not so much now. NY equities closed well off their highs, but A/U remains at the top of big daily candle with almost no recoil.Ignored
Dislikedblackcat2
My Daily chart is showing a bullish engulfing pattern, which means going up.Ignored