AUD/USD

Wow, I posted this last night, drew my long term trend line from Nov 08 lows until now, and the line passes right at about .976.

I have my trade locked in for profit, but I didn't expect to be soo spot on, it hit .976 and boom, instant demand comes in and drives it up 50 pips in 5 minutes! That's a lot of demand... Does anyone know what 50 pips translates into in Aussie or USD domination buying power? 10 billion?

ANyway, this could merely be a bounce in the long run. Or it could be major support, and a continuation of the 2 year trend, at this point, I'm not sure what I'd bet on lol. I'm going to look to lock in my 80+ of profit, or maybe just take half off the table....... Attached Thumbnails http://www.forexfactory.com/attachme...1&d=1300301164 http://www.forexfactory.com/attachme...1&d=1300301403

A nice little earner lolygav
Good call on that chart...but to be honest, the weakness has been self evident of late.


"A fresh wave of sell off continues to confirm our bearish outlook on AUDUSD, which has been under pressure since turning off the 1.0201 level, its Feb 27’2011 high. Further bear pressure now looks to target the 0.9756 level with a violation of there pushing it towards the 0.9672 level, its daily 200 ema and next the 0.9536 level, its Dec 01’2010 low. Its daily RSI is bearish and pointing lower supporting this view."

http://twurl.nl/d4z3cy

Entered more shorts at 9932 which i exited 9827, 9845 is previous major monthly high and is S/R price might chop around it another short from here without breaking 9850ish (within the immediate PA) could see us at 9730-9700.
My cut loose points of longs are below 9670 and 9600...

Now that its broken 0.9800 what was supposed to be a major support area..we're now trading in weak supports heading towards 0.9400, before the the drip down towards 0.9000

Hope it helps
Sanks

Did you see it hit 9781 to 9699 in a flash!!!..and back up!
WOW...this baby's ready to be taken to the cleaners pdq!...at this rate, there is not much support, at all till circa 9200

Sanks

I suppose the 0.9200-0.9500 target is transparent the way its behaving.
Hope its helping....Sanks.


AUD/USD Can Go To 0.9550 Below 0.98
March 16, 2011

http://twurl.nl/f8d3br

Yesterday one of my wool mate said aud will bounce back from 9960, So bad, I listened him.
lucky balanced off a bit from euro

Like the Usd/Jpy...the Aud/Usd broke its support lines with ease, setting lows which show there is little in the way below 9800. Its due to retest the 9700 yesterdays low again.

Return to Sender
17 March 2011

For those traders who were able to get in and profit from the strong move in the USDJPY, congratulations! Capturing a strong move like that can be very rewarding. If you missed the move earlier today, the market may be setting up another opportunity to sell the pair.

Support/Resistance Trading 101 tells us that when a support zone is broken in a down trend, it tends to act like new resistance in the future. Like a thief returning to the scene of the crime, many times, prices return to that point of breakout. The point of breakout on the USDJPY is in the 80.00-80.60 zone. This partial upward retracement offers traders another opportunity to trade the trend.

http://twurl.nl/m6j6q0

hmmm.... now is very interesting.... above 9850....... interesting... up moves now... or just a partial retracements....

Im interested to know too. You have any bias at the moment?

still up and down, but seems to be a rebound.....still on the sideline.

bullish divergence, breakout of unsustainable downtrend, I'm going long, exact entry, sl and tp will post soon.

look if it will drop to 9800 level, thats the level i would consider to long... but will have to re-check when we hit that level.... that level can be long or short..... so my billion dollar advice.... now, stay sideline

You will see how weak this pair is at present. The movements are self explanatory.
Keep a tab of a retest towards 9700.

Hope it helps
Sanks

hi everyone, i'm new.

currently placing a short order on my 500gbp live account, @ 0.98223, shortterm target which i will hold for maximum 12 hours is 0.9765 SL at BE

by the way i really admire how ely make his calls n his trading style. Good job ely, keep up with your posting

Thank you Roger..welcome and good luck with your trading
Just remember Roger, keep it small & steady, so when it moves or spikes against you, you have spare capacity to redeploy another fighter. This will help your position
settle closer to the TOP or BOTTOM, depending if your long or short, and MAXIMISE profits

For the record, i have well more than that in my account in order to play the game & strategy my way. The plan has a "very high" success rate, of which, there is no
point mentioning here, as it seems, most people for whatever reason either, Take Offence..or, a case of Sour Grapes
The only time i have lost on my strategy is, when i deviated from my plan!..and that was totally down to losing my PATIENCE!...& if i may add, it was on
the Eur/Usd...i took a hit of £1000 and had i stayed on my strategy, it would of netted me £10.000!!
That is when i realised, that even though the plan may be good, the reason for entry may be good, the subsequent deployment of soldiers may be good and account
management is also good.....BUT, if you DEVIATE FROM THAT PLAN and lose PATIENCE to see that plan through...then its all rubbish!!!

Remember, you can make money going long aswell as short. My overall bias is to the short side. I see this pair currently trying to shake up & down movements to confuse
the trader..before a genuine "price correction" down towards 0.8600-0.8900 area. As it gets itself ready, the spike down will be swift..i.e, before one realises, it will have already corrected itself!!

Either way, if it goes higher, i am here to oblige Mrs Market


AUD/USD holds bearish tone, looking for new range
17/3/2011

Current price still hold a soft tone slighty below 0.9800. With the Aussie having fallen over 400 pips this week alone, "general consensus seems to be that we will find a new 400 pip trading
range which we will slip into for an extended period, similar to the .9800/1.0200 previous range for Jan/Mar" explains Sean Lee at Forexlive.

Short term view, Valeria Bednarik, Chief Analyst at FXstreet.com said: "Recovering above 0.9800, hourly indicators are still weak in the AUD/USD while price is capped below 20 SMA, suggesting
the upside will remain pretty much limited, probably by the 0.9880 static resistance zone. 4 hours chart shows 20 SMA with a strong bearish slope, while price action also supports a bearish
continuation for the upcoming hours, putting 0.9660 strong static midterm support at sight".

Support levels: 0.9800 0.9760 0.9710, Resistance levels: 0.9840 0.9880 0.9920

[quote=ely;4481178]Thank you Roger..welcome and good luck with your trading
Just remember Roger, keep it small & steady, so when it moves or spikes against you, you have spare capacity to redeploy another fighter. This will help your position
settle closer to the TOP or BOTTOM, depending if your long or short, and MAXIMISE profits
Eli, That sounds great. I hope you don't mind me asking, but do you have anything written that teaches or tells in detail on how the plan works? Would love to learn something like that.
Have a good day/night,

fxst

cant tell you my system its a secret

Be careful with his calls. He only trades in one direction and he is well known as a good contrarian indicator for AUDUSD.

Can't do nothing about these interventions! If they play the game properly, then we all know where this pair was headed!
Looks likely to breach parity again...may wait till above 1.0120 for my next intervention


G7 agrees to joint currency intervention to help Japan
Thu Mar 17, 2011 11:38pm

The Group of Seven industrial nations agreed on Friday to jointly intervene in the currency market.
Bank of Japan Governor Masaaki Shirakawa said on Friday he expected joint G7 intervention will help stabilize the currency market.

"The BOJ expects cooperation with other countries will help stabilize the currency market," Shirakawa told reporter following a teleconference among the Group of Seven finance chiefs.
Shirakawa also said the central bank will continue its powerful monetary easing and ample fund supplies to stabilize financial markets.
At the meeting, the G7 countries agreed to jointly intervene in the currency market

The euro jumped 3.5 percent to 114.60 yen, boosted in part by comments from Japanese Finance Minister Yoshihiko Noda that the European Central Bank may intervene in euro/yen.
Commodity currencies, such as the Australian dollar, performed even better and recovered a bit from their recent hammering.