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AUD/USD

  • #36,121
  • Nov 22, 2011 7:15pm Nov 22, 2011 7:15pm
Quoting Fudomyo
so far the 25% support line has held at 0.9810. if it goes, 95870 is next with the daily LTL sitting pretty under it. (if we do bounce from here, looking for the descending TL touch next above 1.000. no longs for me yet.)
short off the DPP 9847, let's see if the third times a charm. WS1/MS1 sitting at 9700 area under the 9810 support. (9810 my first target as a scalp)
Yesterday's bounce off of demand not convincing, so the daily doji could be continuation versus reversal.
  • #36,122
  • Nov 22, 2011 7:23pm Nov 22, 2011 7:23pm
what's the cause behind this sudden drop in aud and euro...?
  • #36,123
  • Nov 22, 2011 7:32pm Nov 22, 2011 7:32pm
Story doing the rounds that Dexia bailout is in trouble, which would threaten French AAA rating.
Aud would head towards 0.9710 support and Euro would provide a big test of 1.3420 support if it turns out to be the case
  • #36,124
  • Nov 22, 2011 7:34pm Nov 22, 2011 7:34pm
Quoting happytrader
what's the cause behind this sudden drop in aud and euro...?
Not quite sure, but could have been this news one-liner:
"Singapore Dollar Falls Sharply Vs US Dollar"
Expect the unexpected.
  • #36,125
  • Nov 22, 2011 7:37pm Nov 22, 2011 7:37pm
Dexia
  • #36,126
  • Nov 22, 2011 7:42pm Nov 22, 2011 7:42pm
Quoting happytrader
what's the cause behind this sudden drop in aud and euro...?
imo the market is simply following technicals, there is no upward momentum. throughout the day the pair has been trading within a narrow range, but with an overall downward tendency...it's finally giving in to the gravitational pull.
  • #36,127
  • Nov 22, 2011 7:46pm Nov 22, 2011 7:46pm
UPDATE

Dexia Bank in trouble and that could lead to French downgrade.
Risk off folks watch .9800 support beware of false breaks as Asia maybe getting itself short which the ACB and sovereigns love to squeeze !!

More local banks suggesting interest rate cuts in DEC..

Jump onboard take a ride yeah yeah ..
  • #36,128
  • Nov 22, 2011 7:47pm Nov 22, 2011 7:47pm
Quoting fx-rocket
Not quite sure, but could have been this news one-liner:
"Singapore Dollar Falls Sharply Vs US Dollar"
Bollard was talking when this dropped!

Seems like Dexia?
Quote
Belgium Unable To Meet Agreed Dexia Financing, In Talks With France - Report [Dow Jones]

Can we break 0.9800 now?
  • #36,129
  • Nov 22, 2011 7:54pm Nov 22, 2011 7:54pm
Quoting lasty
UPDATE

Dexia Bank in trouble and that could lead to French downgrade.
Risk off folks watch .9800 support beware of false breaks as Asia maybe getting itself short which the ACB and sovereigns love to squeeze !!

More local banks suggesting interest rate cuts in DEC..

Jump onboard take a ride yeah yeah ..
Where are you shorting and stops?
  • #36,130
  • Nov 22, 2011 7:54pm Nov 22, 2011 7:54pm
Watch out for HSBC China flash PMI in 35 minutes. Around 50.5 appears to be the expectation, but always hard to tell with China numbers. Aud is struggling to hold 0.9800 and if its a weak number will pass straight through. 0.9710 is major Fib support
  • #36,131
  • Nov 22, 2011 7:58pm Nov 22, 2011 7:58pm
There she goes!
Good thing I was awake!
  • #36,132
  • Nov 22, 2011 7:59pm Nov 22, 2011 7:59pm
Morning All, seems price is finally dropping as expectated. Will wait for it to retest 9810 since it has been a strong support so far and become the resistance for it to slide down again to 95 regions based on the daily TF. Good luck all and happy trading...
  • #36,133
  • Nov 22, 2011 8:04pm Nov 22, 2011 8:04pm
Quoting radit27
are u sure?....lets see...if try long with SL 35 pip TP 100 pips....u win have alot profit
Morning radit27, i guess my wish to have the price down to 97s came true. I do hope it will reverse back up to minimise your loss and wait for a better entry to short this as Asia sessions leading up to Frankfurt seems to have those bullish run but won't be that strong though. Good Luck!
  • #36,134
  • Nov 22, 2011 8:06pm Nov 22, 2011 8:06pm
That didnt take long . Should head towards 0.9710 Fibo supprt now but Asia is short/ SL need to be at 0.9850. Euro should give 1.3420 a nudge shortly, which will weigh on the Aud, but watch the HSBC data
  • #36,135
  • Nov 22, 2011 8:32pm Nov 22, 2011 8:32pm
Even CHINA is telling us to SELL AUD!

China PMI 32 month low 46.7 Nov vs 51.4 Oct!!
Below 50 means shrinking economy
  • #36,136
  • Nov 22, 2011 8:34pm Nov 22, 2011 8:34pm
Ooo err....AUd doesnt like the China PMI number, 48!
Wont help at all and 0.9710 not so far away SL now 0.9815
  • #36,137
  • Nov 22, 2011 8:41pm Nov 22, 2011 8:41pm
Priced in looking for buys now
  • #36,138
  • Nov 22, 2011 8:49pm Nov 22, 2011 8:49pm
Quoting Ill-b-back
...I thought I would attach the COG....
- thanks, I am playing with it now! Cath
  • #36,139
  • Nov 22, 2011 9:25pm Nov 22, 2011 9:25pm
Quoting domino
Priced in looking for buys now
I agree. I'm long at 0.97687. SL Break even +1. Hoping for 1.0100 by the end of the Holiday Weekend.....we'll see.

(I'm mostly a scalper, so please don't follow my advice. Just sharing what I'm doing.)
  • #36,140
  • Nov 22, 2011 9:33pm Nov 22, 2011 9:33pm
Quoting GBReal
I agree. I'm long at 0.97687. SL Break even +1. Hoping for 1.0100 by the end of the Holiday Weekend.....we'll see.
Same here. I'm thinking short squeeze at some point with US traders closing out short positions for the holiday weekend. My only worry is that we may see another leg down when European traders wake up and see the news.
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