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AUD/USD

  • #27,641
  • Jan 27, 2011 1:40am Jan 27, 2011 1:40am
Australian PM announced a very retail/consumer negative Flood Tax and all it did was dropping AUDUSD by 20-30 pips? And now its heading back up?

Devastating Flood, Heavy reliance on China, Low CPI, Low employment, unfriendly Tax and 30% overvalued currency all could not put AUD down?

Thats gonna be one hell of AUD support in my opinion.
  • #27,642
  • Jan 27, 2011 1:43am Jan 27, 2011 1:43am
Quoting BurgerKing
Australian PM announced a very retail/consumer negative Flood Tax and all it did was dropping AUDUSD by 20-30 pips? And now its heading back up?

Devastating Flood, Heavy reliance on China, Low CPI, Low employment, unfriendly Tax and 30% overvalued currency all could not put AUD down?

Thats gonna be one hell of AUD support in my opinion.
Don't forget tho, this is against the USD
Biggest joker
  • #27,643
  • Jan 27, 2011 1:44am Jan 27, 2011 1:44am
I wonder where Alex went.....
Biggest joker
  • #27,644
  • Jan 27, 2011 1:56am Jan 27, 2011 1:56am
What the HELL happened?

All of a sudden its +++ USD!!!!

Who woke up and bought all the USD in the world?
Or Who died and sold all the other currencies!
  • #27,645
  • Jan 27, 2011 2:02am Jan 27, 2011 2:02am
S&P cut some ratings to Japan, yen got slamered.
  • #27,646
  • Edited 2:08am Jan 27, 2011 2:03am | Edited 2:08am
Hahahaha.... all you need is TA most times...and a bit of luck
ohh, better not forget, and fibbonacci.
Biggest joker
  • #27,647
  • Jan 27, 2011 2:16am Jan 27, 2011 2:16am
Quoting baron193
Hahahaha.... all you need is TA most times...and a bit of luck
ohh, better not forget, and fibbonacci.
Well I guess that for this kind of movement you need a lot of luck! This movement is not chart related is news related.
  • #27,648
  • Jan 27, 2011 2:16am Jan 27, 2011 2:16am
long here
Biggest joker
  • #27,649
  • Jan 27, 2011 2:23am Jan 27, 2011 2:23am
Gold didn't react much, so I'm long @0.9904 [email protected] [email protected].
  • #27,650
  • Jan 27, 2011 2:28am Jan 27, 2011 2:28am
Quoting kandarv
Well I guess that for this kind of movement you need a lot of luck! This movement is not chart related is news related.
You would be amazed at how lucky you can be when picking correct entries!!
Biggest joker
  • #27,651
  • Jan 27, 2011 2:30am Jan 27, 2011 2:30am
Quoting Alki
Thanks to you, i had a look, made my analyze and get long for 100 pips as first target and maybe 230 pips for second target for only one lot. I'll see if i was right or wrong, otherwise, i'll pyramid. If not, i'll get out.
Great thanks Jade to bring attention on UJ. Far from my PC, i close trade for more than 80 pips, even i could expect more, but No greed. UJ needs to be better followed. Again thanks.
Little luck is forex water. Learn all Trading strategies, then forget them.
  • #27,652
  • Jan 27, 2011 2:41am Jan 27, 2011 2:41am
Enough from me, good luck everyone.
Biggest joker
  • #27,653
  • Jan 27, 2011 2:59am Jan 27, 2011 2:59am
Very frustrating when something big happens and I am not in there.

This Japan Rating Downgrade sure caught everyone by surprise... I wonder if THIS is the trigger for AUD downfall. Perhaps not yet.

But I bet it will next week when China goes into a week long Chinese New Year Holiday - and possibly announce a Rate Hike to boot.
  • #27,654
  • Jan 27, 2011 3:11am Jan 27, 2011 3:11am
Attached Image (click to enlarge)
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  • #27,655
  • Jan 27, 2011 3:21am Jan 27, 2011 3:21am
Quoting Alki
Great thanks Jade to bring attention on UJ. Far from my PC, i close trade for more than 80 pips, even i could expect more, but No greed. UJ needs to be better followed. Again thanks.

yw Alki, t'was one rip-snorter example

hope other traders will now know what a bull flag/pennant looks like and what it does

price on UJ has broken out of the bear channel "flag" and should keep tracking north from here for quite some time (weeks?) (proviso the pattern holds true) ...... the day ahead and next week also are looking good for more north
  • #27,656
  • Jan 27, 2011 3:41am Jan 27, 2011 3:41am
btw, the PA on UJ is a very significant development for the whole of market, every last professional trader will know what this chart pattern means (i.e we are likely in for a largish dose of bear traffic on the majors)

take care if going long anything, it's possible that this signals a trend reversal, from bull to bear with USD strength ahead for a time

no guarantees of course, market itself will confirm or not
  • #27,657
  • Jan 27, 2011 4:12am Jan 27, 2011 4:12am
Quoting Jade Gate
yw Alki, t'was one rip-snorter example

hope other traders will now know what a bull flag/pennant looks like and what it does

price on UJ has broken out of the bear channel "flag" and should keep tracking north from here for quite some time (weeks?) (proviso the pattern holds true) ...... the day ahead and next week also are looking good for more north
I did not trade it as flag but as harmonic pattern and opening day technique combined with timing to confirm my calculation.
Little luck is forex water. Learn all Trading strategies, then forget them.
  • #27,658
  • Jan 27, 2011 6:32am Jan 27, 2011 6:32am
Still holding my short AUD, failed to close below the 99 level again but still think the chances of sub 99 are higher than returns above parity. Added small positon on the IB for an average position of 99.55. Will probably look to close the smaller part at 99 area. All posi's at BE now so time will tell.

RT
  • #27,659
  • Jan 27, 2011 7:37am Jan 27, 2011 7:37am
Pathetic US data released... Now, what?
Use me as a contrarian indicator
  • #27,660
  • Jan 27, 2011 7:49am Jan 27, 2011 7:49am
Quoting mrbandwidth
Pathetic US data released... Now, what?
i think that nobody can say before dow opens and us home sales data are released in about an hour. what is obvious is that aud wants to go up, but bad data has hold it down for days now.
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