AUD/USD

the suggestion of a second summit already, in my mind says we wont get any big news out of this weekend.

my confidence in shorting this thing is absolutely shot though

seriously testing that daily tl now. im sure regardless of what happens for the rest of the night, next week we are gonna see a big rebound (my moneys on this) or a break north

Looks like aussie might retest 1.05 - 1.08 if break the utl at 1.04..let's see..Good Luck !!

classic BO trade, unfortunately i miss this trade. let the chart do the talking.

Closed my 2 lots from 0175 @ 0340. Still holding 0130. Don't really have a target for that yet.... but a lot higher. Hope to get another dip to buy again. Good trades to all.

Regards,

euro and aus both trying their best to break previous resistance levels

and dow looks likely to have its 4th consecutive winning week. people arent fearing this eu problem at all..

Heard about the Trillion dollar plan to rescue euro ? They gonna be printing money again, so instead of euro's strengthening , I expect to see a gradual weakening. You guys might want to consider portugal's(14%) and greek bonds(70% yld).

This is where if you can withstand the drawdowns, you might be in for really big money....

Investors seems to be creating a big bubble (a lot of people are saying currently that almost all the currencies have high correlations - forced), and it seems linked to the Euro crises.

Once reality sinks in (might be as soon as next week), Euro will drop like a hot potato.

*digging in*

yes...definitely a bubble forming based on unbacked confidence. however with the euro i feel the recent rally to 1.39 will prove to be just a retrace from the drop from 1.45, and it wont be long before we head to 1.30

AUD/USD – Bias (W1): Bullish; Bias (D1): Bullish; Bias (Overall): Bullish

http://lcchong.files.wordpress.com/2...ng?w=837&h=381

http://lcchong.files.wordpress.com/2...ng?w=837&h=382

Hi All, Any thoughts on Aud/Usd for Monday morning. I have a big chunk of short position at @1.02880 and wondering if will it will follow the trend ( resulting in margin call !!) or will go down and make it a winner. Any thoughts would be of great help.

Do you have no stop loss on the order? Also, why risk a trade where such a comparatively small move will result in a margin call on your account?

Here is my view, hope it will help.

Weekly tf:
We had a big rally which ended with long white corpus 2 weeks ago, followed by a hangman this week, which couldn't break the trend line. It it worth to mention, that it formed below 23.6 fibo retracment form bullish movement from May 2010. Also the RSI is still bearish, just getting near it main trend line. Last week was so due to not clear situation in Europe, and expectation concerning euro summits.

Forecast: Neutral, we need to break above 1.0375 to go bullish, or 1.0145, and last year trend line to be again bearish.

Daily tf:
Here situation in kinda simillar. We are moving around 200 EMA, stoped both by resistance at 1.0375 and support at 1.0145. It is a form of consolidation, with some doji candles (not confirmed) and high waves candles. All of this is probably due mentioned before hopes around Euro summit.
The drill is the same here, daily close above 1.0375 will be signal to close your shorts, and get ready for some longs, and opposite, falling under 1.0145, breaking 200 Ema, and short and long term trend line will mean your shorts are save.

Forecast: Neutral, although the dollar was weaken too much last 2 weeks, even though the news from US wasn't bad, and Euro summit will be a failure in my opinion and won't bring anything important to the case, so im slighty bearish here.

And lastly 4 h tf for those who would rather see faster action

No a suprice here, still the same levels of resistance and support. However we can see that last candle broken slighty through bearish trend line. Now, we can see either breaking through 23.6 fibo, and forming a triple top formation, and some bearish actions. Support with bearish scenario would be:
1.0145 (main)
200 Ema
1.0100
1.0000
0.9940
0.9820
0.9765
and lastly 0.9575, which should be followed by falling belove 0.95000

On the other hand, the resistance are:
1.0375 (main)
1.0550
1.0770 which could lead to 1.1

Forecast: Neutral, also slighty bearish, just for fun, waiting for getting out of consolidation

Hope this will help, may the green pips be with you my friend!

TRADING IS SIMPLE:

* Price either goes up or down.
* No one knows what will happen next.
* Keep losses small and let winners run.
* Position size = risk / stop loss
* The reason you entered has no bearing on the outcome of your trade.
* You can control the size of your loss (skill) but you can't control the size of your win (luck).
* You need to know when to pick up your chips and cash them in.

Do not make things complicated.

Last Friday, we had FED discussing/hinting a possible QE3 and it sent USD down the drain, weakening it against all pairs. Even JPY (not so) enjoyed a rally inspite of "fear of BOJ Intervention" (which we all know WILL NOT HAPPEN).

I didnt foresee this event when I took a SHORT AUDUSD @ 1.0300 and I am taking a hit with just 25 pips to my SL come weekstart trading.

EU FinMins are working their butt off trying to come up with a solution to the greece crisis. Everybody is hopeful and this fueled RISK ON Sentiments driving EURUSD up and AUDUSD up as well.

Moreover, AUDUSD has crossed the Downtrend trendline; destroying the bearish bias on the pair.

What to expect then?

Having weight in all these factors, I am BULLISH on this pair come weekstart. I will BUY AUDUSD @ 1.0350 SL 1.0210 with TP of 1.0600. I could blow my account on this trade (you can deduce the leverage i'd be putting on this).

Win some, lose some. It is only money - not life.

im going to be standing by this

My numbers are buy at the bell, stop at 1.0154 and limit at 1.065. Just for spice I will pull 1/2 off at 1.05 and move stop to B/E

AUD/USD @1.0340

Shorts bailed on friday night as hope an agreement was meant to be reached.
As we have seen this all before it failed and tension are now mounting.

http://www.telegraph.co.uk/finance/f...debt-deal.html

Aud off its highs of 1.0379 MDA 200

Watch for more news events to get market jittery.

Good luck

Worlds Greatest Treasurer Swan (Tongue in Cheek) says

http://www.smh.com.au/business/swan-...024-1mf4d.html

The severity I think isnt being respected either that or the market is being artificially held up by who...?

Why would you buy equities when the market is on the brink of a possible major catastrophe?

Each to their own..