AUD/USD

try a 0.02 lots short at 1.0293, s/l at 1.0353, let's see if 15 mins MACD will confirm a divergent to 20EMA for further drop

World economic turmoil should scare living daylights out of us: Westpac

 

1. by: Sue Neales and Scott Murdoch
2. From: The Australian
3. December 01, 2011 12:00AM

THE economic turmoil in Europe and the US is nearing "catastrophic" proportions, one of the nation's leading banks warned yesterday, as it predicted a plunge in the dollar to less than US80c and three interest rate cuts next year.

James Shugg, Westpac's London-based senior economist, said the bank was preparing to slash its global growth forecasts from 3.2 per cent to 2.5 per cent for next year, to adjust to the deepening financial chaos in Europe.




http://www.theaustralian.com.au/nati...-1226210704376

i see, it would be interesting to see AUD/USD drop to 0.80 area... if it could drop to 0.6XXX, should be a good place for people to go long for swap interest rates at long-term.

looks like 15 mins MACD is confirmed, i move s/l be and let it run, will close half if it could reach 1.0213

By the way, for any patient trader, i recommend you could try a long on EUR/AUD around 1.3100 level at set s/l at 1.2900 and t/p to 3900.
if you are uncomfortable with this 200 pips s/l, you can reduce your trading size as 1/5 or 1/10.. which means this is only 40 pips or 20 pips s/l in terms the money. There are lot chances to add more positions on its way to 1.3900 and the reward in terms of money is not bad.
I have three reasons:
1st, EUR/AUD is fairly ranged between 1.2900 to 1.4200 level for a while and it is unlikely to break for cross pair.
2nd: the drop for EUR/AUD is more likely the aggressively up by AUD. The currency usually have a correlation if this pair up faster than the other pair, it will not continue to grow faster forever, it will grow slowly later. on the other hand when they drop, it will also drop faster just as the higher your raise the brick, the stronger you can hit your enemy.
3rd: Euro crisis also have big impact on AUD and it may drop even faster than Euro when people realize it.
This is just my suggestion and anyone who is interested in that please start with a small size.. i will also update my process for EUR/AUD daily until i got s/l or t/p
Good luck everyone and trade safe

brilliance, patience is key.

5 lots AUD/USD @ 1.0883 Closed @ 1.02788 S. (175 pips)

happy trading folks.

To get to .60 would require a while , at least a few years, we have to wait for the feds to raise interest or aud central bank to lower rates by a significant amount or both events happening. Furthermore it's hard to reach that level again as USA has already done QE1 QE2 and considering QE3 next.

Even the swap lines the FED opened is a sort of mini QE as they will be printing money for the ECB, it's positive news for euro (and aud) today because of 3 things:

1) USA is printing money - no brainer -> lower usd value

2) governments are finally doing something significant to help out rather than bitch about useless things -> If politicians are mostly stupid , then at least central bankers are smarter , this indicates they are 70% serious!!

3) if , and if euro ever does anything useful to save its ass, it would be some sort of money printing -> good for commodity exporters like brazil, australia, indonesia

Bloody hell,
790 pips bagged while sleeping, love that 280 pip 1 hr bull candle. Will be watching very closely, think I am done for the week

No dip offered. Looks like I will be holding these 2 for a while. Positive swap is great!

Regards,

scalps

sold it

! What happend, waking up too this massive burst ?

Closed my long here @ 1.0270 for 255 pips!

OK, now I understand:

The Australian dollar is the top performing currency for the third consecutive day with an advance of more than 2.4% against a weaker greenback at noon in New York. Headlines this morning sparked a massive rally in risk after the Chinese central bank cut reserve requirements by 50 basis points for its first move at easing policy measures in three years. Adding fuel to the rally was a coordinated effort by the world’s largest central bank to boost liquidity by cutting swap rates by 50 basis points. The Fed, ECB, BoE, BoC, BoJ, and the SNB agreed on the measure in an effort to combat a looming liquidity crunch which continues to threaten global finance in the face of the European sovereign debt crisis. Equity markets surged on the news with the US stocks advancing 3.4-3.6% across the board as debt concerns subsided. In the long run however, the move is unlikely to thwart off further contagion fears as the issue at hand continues to be one of solvency, NOT liquidity.

AUD/USD @ 1.0275

Looks like the northern hemisphere swallowed viagra by the truck load as everything is up up up.

The bulls are back in force.... we are saved...

This reminds me of a dodgey painter who painted over some peeling paint without prep work.. cracks will soon appear.

Today its going to be narky with China PMI and retail sales ..

Range 1.0195 - 1.0369

Happy hunting dudes... its all about the .. dont forget to bank it..

OK SHOW OF HANDS: Who here is waiting to scalp SHORT with a tight stop loss after we close the double swap rate cutoff period.

This guy!

Alternatively how many of you already scalped/long and are waiting to get out after you receive your swap money?? I wanna know.......I hope you can wait until I get my shorts in.....

Good work Rolo, awesome day today. I am wondering where you got that parabolic indicator, looks like it could be a good trendline confirming signal?

in long again @ 1.0279, sl 1.0239

I entered my long-term EUR/AUD trading today, it was triggered at 1.30998, 0.01 lot, my s/l is 1.2900 and tp is 1.3900. I am not going to add any more positions when i am losing, will wait to see how market will react that.

again, tg lower demand around 1.02550

My bias is to the upside as it is clearly:
#1. Down trend channel broken to the upward
#2. Daily Indicators are obviously bullish
#3. Market forces are bullish. Ask the central banks

However, volatility is too much, going long and this drops 300 pips. Account wipeout! Going short and it rises 300 pips. Account wipeout.

Be careful!