AUDUSD for informed traders

LOL. The aussie is rallying, who would have ever thought.... I've been kind of at a rock and a hard place with this currency. I have wanted to start a swing trade long for a few weeks now, but it always seems like it is too 'high'. Wonder how high it will be by next week. lol. Missed my opportunity on the last two down days... oh well.

hmmm..... all the fundamentals are pushed aside, looks like all the aussie data aint helping at all.... bad up, good up too?! what the heck is going on! bloomberg, target that AU might reach 0500... what the duck?

Been like this for a better part of a year now. Even the bad news gets a knee jerk reaction down, only to be completely engulfed and headed back up.

AUD went up after the Home Loans m/m fell to -5.6% yesterday (while forecast was -2.6%). Today, CAD Ivey PMI is positive as 73.2. I thought that means AUD/CAD is going to fall. However, it is actually going up.

I am a newbie and scratching my head trying to understand the reasons behind it but couldn't figure it out. Could anyone please shed some lights on this? Thank you!

Interest rates + rumor of rate hike tomorrow.

Hi Guys, I'm a newbie too. Just wondering if AUD/USD really can go up to 1.05? Will unemployment change trigger it up again?
Anyone can give suggestion? Because the rally really doesn't make sense at all...

Already hold from 1.0200....(Very much depressed!!)

I'd say its more the US government shutdown pushing down the $: http://money.cnn.com/2011/04/06/news...oogle_business

..bad times for USD

I want to go back and see how our hypothetical aggressive carry trader with say $4,000 (or $400 or $40,000) in his account would have handled this rally. On 3/13 the AUD/USD starts down, 3/14 down some more, on 3/15 a big drop with a big stop-gunning spike. The trader thinks this is the bottom; but waits for conformation. 3/16 another big drop with a bigger stop-gunning spike. Surely this is bottom; but he waits for conformation. 3/17 is an up day. The trader takes a 1 mini position ($1.00 per pip) with no stop loss (no sense giving his broker a stop-gunning point). There is enough money left to hold his position down to 60 cents. 3/18 is a big up day. Trader sets a stop loss on his first mini at break even and buys another mini with no stop loss. 3/20 a small up day. 3/21 a big up day. Trader sets a stop loss on his second mini at break even. He buys a 3rd mini with no stop loss. 3/22 an up day. Trader sets stop loss on 3rd mini at break even and buys 4th mini. 3/23 an up day. Trader sets stop loss on 4th mini at break even and buys 5th mini. 3/24 an up day. Trader sets stop loss on 5th mini at break even and buys 6th mini. 3/25 an up day. Trader sets stop loss on 6th mini at break even and buys 7th mini. 3/27 and 3/28 sideways. 3/29 an up day. Trader sets stop loss on 7th mini at break even and buys 8th mini. 3/30 and 3/31 sideways. 4/1 an up day. trader sets stop loss on 8th mini at break even and buys 9th mini. 4/3, 4/4, 4/5 down days. Mini #8 is stopped out at BE, but collects swap for 3 days. Mini #9 is holding with no stop loss set. Trader is watching for breakdown and is ready to close all trades; but 4/6 is an up day. Trader sets stop loss on mini 9 at break even and buys mini #10.
Note that except for the possibility of an opening gap breakdown on Sundays, the trader is only risking one mini at any time.

Where will this trend go? Is AUD/USD heading for 1.05? With Obama's Fed printing money like Zimbabwe, the sky's the limit! http://www.forexfactory.com/images/icons/icon7.gif

I am still Stay on sideline.
UnEmployment rate surprisingly drop to 4.9% (after the flood recovery)
Employment surplus 37800.
Aussie trade @ 1.0475 now.

Offer seen ahead @ 1.0500.
Market move - Support @ 1.042.

Good luck to all traders.

HERE WE GO BOYS!! JUST LIKE THE CAD in 2007 it went to 1.10 in one week from 1.02.....OHH YAAA its happening as i type!!

I like to study the daily chart. I believe the smaller time frames are just noise created by the day traders. By the end of the day, the day traders are flat. At the closing I can then try to understand which way the market is actually heading. http://www.forexfactory.com/images/icons/icon7.gif

Hi all,
I suggest selling @ 1.0471 TP 1.0400 SL 50pips
We have horizontal resistance @ 1.4071 plus demand channel resistance around the same region. The 2-bar reversal pattern (inside bar) further strengthens my decision to sell.
Lets get a 3rd test of the demand trend line (thick white line) on 1hr tf before buying back with in anticipation of the BIG short @ 1.0524
Find chart attached.
Happy trading!
Meshach.

1.0500 reached...

Had a short order @ 1.0500 that triggered.... 2 lots. Stops @ 1.0560. TP doubled @ 1.0380. We are in uncharted territory here. This is a pure momentum exhaustion play, so my reasoning is pretty thin. Good trades to all....

Regards,

Possible Scenario

Short going well so far.... Just had a big, fast drop below below 1.0460.... to fast for my taste. Took a $500 binary option call @ 0456. Strikes at 11:30 est. We'll see if she pays out!!!

Regards,

7.4 quake hit japan again...

AUD/USD looks like it hit a brick wall!

Hi all, please exit this short @ 1.0420 then buy (actual support is 1.0415) till 1.0560 SL 70pips. Very typical of Thursdays- breakouts! Please we would no longer sell (exit our long) frm 1.052x the new level for going short would be about 10-20pips higher than 1.0560 Enjoy the ride. Meshach

how about......ummmm NO