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AUD/USD

  • #33,041
  • Sep 7, 2011 4:52am Sep 7, 2011 4:52am
Australia is also one of the extremely few countries that sell Uranium. And China is an addict of Uranium.

AUDUSD will eventually drop below parity. This is a certainty written in hard granite stone. But will it happen before AUDUSD climbed higher than 1.1000? We all do not know.

I am not saying "short AUDUSD is wrong"; I am telling everyone to be cautious.

PS. I also have a mining company selling chrome ore to China. And yes, they pay us in USD. But with the declinng value of USD, we are considering accepting RMB starting next shipment (October).
  • #33,042
  • Sep 7, 2011 5:06am Sep 7, 2011 5:06am
Hmmm...

caution at ~650-670

Anyone sees these levels too?
Use me as a contrarian indicator
  • #33,043
  • Sep 7, 2011 5:27am Sep 7, 2011 5:27am
Quoting BurgerKing
Australia is also one of the extremely few countries that sell Uranium. And China is an addict of Uranium.

AUDUSD will eventually drop below parity. This is a certainty written in hard granite stone. But will it happen before AUDUSD climbed higher than 1.1000? We all do not know.

I am not saying "short AUDUSD is wrong"; I am telling everyone to be cautious.

PS. I also have a mining company selling chrome ore to China. And yes, they pay us in USD. But with the declinng value of USD, we are considering accepting RMB starting next shipment...
Many years ago, before I started trading, the US dollar dropped to a very low level... in fact it was outrageously low. So I swapped all of my money into US Dollars. The logic was that if the US Dollar recovered I would make some money and if it didn't I would go to Florida and live there for a while until I'd spent the dollars. So it was a no-brainer - either a really, really cheap few months having a great time or a big profit. I made the big profit a few months later (over 50%). I called this my "Disneyland strategy".

If I were an Australian citizen with a lump of cash I'd do the same right now and convert all of my cash into US Dollars. And I don't think I'd end up in Disneyland ... but if I did it would still be great value!
  • #33,044
  • Sep 7, 2011 1:37pm Sep 7, 2011 1:37pm
Quoting FX-Petra
Took a 3rd lot @ the 50% fib line of 0490. Aussie GDP later tonight will tell the tale.... at least in the near term. Good trades to all.

Regards,
closed my 0490 and 0520 lots @ 0640. Letting my 0640 run to still target 0770. Hope you all made some good pips!

Regards,
  • #33,045
  • Sep 7, 2011 1:39pm Sep 7, 2011 1:39pm
Quoting FX-Petra
Patience. We need Europe equites not to tank... and then U.S. Equites to have a good day. If these elements can fall into place, we could see the 0650 area by London close tomorrow. 0680 would be nice, but that would mean a 200 pip range day. The market has to come to grips with just how good the Aussies are doing, relative to the rest of the world.

Regards,
Near 0650 as we approach NY close---- as expected. 0680 seemed like a little to much to ask for in one day. But you never know, the triple intrest junkies could still give a push!

Regards
  • #33,046
  • Sep 7, 2011 2:47pm Sep 7, 2011 2:47pm
Nothing much is going to be happening until the Employment Change Report tonight at 9:30 PM EST. Until then, I suspect that it's going to be on a slow climb.

If the Employment Change report and/or unemployment rate is really bad, worse than the central banker's statement last night then the AUD will tank otherwise it's going to continue its slow climb up.
Make your losses in demo. Earn your profits live.
  • #33,047
  • Sep 7, 2011 2:54pm Sep 7, 2011 2:54pm
I figuer your right still holding longs from 491/943 TG 700 and would like to hold on to the other, but also usdx is at neck line so things may change.

GL

Quoting Forexia
Nothing much is going to be happening until the Employment Change Report tonight at 9:30 PM EST. Until then, I suspect that it's going to be on a slow climb.

If the Employment Change report and/or unemployment rate is really bad, worse than the central banker's statement last night then the AUD will tank otherwise it's going to continue its slow climb up.
  • #33,048
  • Sep 7, 2011 5:54pm Sep 7, 2011 5:54pm
AUD/USD 1.0650

Market buoyed by GDP figures and the economists went wild, but let me tell you a little secret.This was mainly from Queensland the place where they had floods and insurance claims. So in my eyes the numbers were distorted- a one off-
But you look around the planet and what else would you buy with a liquid currency and get these juicy yields?

AUD/CHF .9145

First objective .9150 (near enough) reached on this one so lets stand aside for a moment.

Im still bullish AUD crosses though GBP CHF EUR and now perhaps JPY.

RBA's next headache will be capital inflows and watch the media scream when it hits 1.15 from the exporters and the overpriced local tourist operators.
  • #33,049
  • Sep 7, 2011 6:06pm Sep 7, 2011 6:06pm
Quoting Mr.C
SL has been moved to 60 pips. Now targeting the AWR. 210 of floating profit at the moment.
Initial AWR plan faded after todays PA. Had a feeling this might happen. After being 80 hours in a trade was stopped out with my last part of the position for another 60 pips (0.5%) This safe trading and parting the position gave me the 3.3% total profit. RR - 1/3.3.

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  • #33,050
  • Sep 7, 2011 6:08pm Sep 7, 2011 6:08pm
Quoting lasty
AUD/USD 1.0650
RBA's next headache will be capital inflows and watch the media scream when it hits 1.15 from the exporters and the overpriced local tourist operators.
This is why I cancelled my plans for an Australia Vacation this year... It is now 25% overpriced in my estimate.
  • #33,051
  • Sep 7, 2011 6:10pm Sep 7, 2011 6:10pm
Thank Mate! Good luck today may see some more move to the up side I think with good numbers expected on empoyment report in less than a hour and a half. usdx is at a funny place right now though too..

Quoting lasty
AUD/USD 1.0650

Market buoyed by GDP figures and the economists went wild, but let me tell you a little secret.This was mainly from Queensland the place where they had floods and insurance claims. So in my eyes the numbers were distorted- a one off-
But you look around the planet and what else would you buy with a liquid currency and get these juicy yields?

AUD/CHF .9145

First objective .9150 (near enough) reached on this one so lets stand aside for a moment.

Im still bullish AUD crosses though GBP CHF EUR and now perhaps JPY.

RBA's next...
  • #33,052
  • Sep 7, 2011 6:36pm Sep 7, 2011 6:36pm
Quoting BurgerKing
This is why I cancelled my plans for an Australia Vacation this year... It is now 25% overpriced in my estimate.

Even if the AUD/USD was at .50 the local tourist industry would rip ya.
  • #33,053
  • Sep 7, 2011 6:51pm Sep 7, 2011 6:51pm
Preety funny Lasty ! Your about as diplomatic as I feel towards the US..I do here Belisse is nice though

Quoting lasty
Even if the AUD/USD was at .50 the local tourist industry would rip ya.
  • #33,054
  • Sep 7, 2011 8:31pm Sep 7, 2011 8:31pm
Australians loosing jobs just like Americans....
  • #33,055
  • Sep 7, 2011 8:33pm Sep 7, 2011 8:33pm
Quoting lasty
Even if the AUD/USD was at .50 the local tourist industry would rip ya.
Why you say "rip"? You implying Australians are dodgy?
Oh yeah, dodgy forex brokers yes... 2 scammed me in the last 3 years...
  • #33,056
  • Sep 7, 2011 8:39pm Sep 7, 2011 8:39pm
Sumbeach ! That hurt -9.7 didn't see that coming but had tight stops kinda.......
  • #33,057
  • Sep 7, 2011 8:43pm Sep 7, 2011 8:43pm
Yeah, definitely unexpected. Is that the catalyst now for a 1.0500 test again?
  • #33,058
  • Sep 7, 2011 8:45pm Sep 7, 2011 8:45pm
Hi all,

Just wanna say hi, I'm a newbie and facing a steep learning curve ahead. Also just made 50 pips from calling unemployment data correctly a few minutes ago . Hoping for a further fall towards 1.050 tonight from euro and US market .
  • #33,059
  • Sep 7, 2011 8:56pm Sep 7, 2011 8:56pm
Quoting SpartanTrade
Yeah, definitely unexpected. Is that the catalyst now for a 1.0500 test again?
agree with your opinion.
  • #33,060
  • Sep 7, 2011 8:58pm Sep 7, 2011 8:58pm
Quoting SpartanTrade
Yeah, definitely unexpected. Is that the catalyst now for a 1.0500 test again?
The drop isnt as big as the rise yesterday on a better GDP... suggest to me market is very bullish... or at least looking for some victims
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