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AUD/USD

  • #41,641
  • Mar 10, 2012 4:41pm Mar 10, 2012 4:41pm
Quoting Davit
how does this relate to AUD/USD
and should it go up instead?

Can't believe anyone on this forum can't grasp the implications .
If you have an FX account I'd suggest the best course of action is to close it .
  • #41,642
  • Mar 10, 2012 4:59pm Mar 10, 2012 4:59pm
Quoting Balmain Boy
Can't believe anyone on this forum can't grasp the implications .
If you have an FX account I'd suggest the best course of action is to close it .
Yes true I am new to forex however I have been making money .
My question was sincere however I didn't expect to get ego tantrum.
Thanks for not answering properly.
In trading, you have to be defensive and aggressive at the same time
  • #41,643
  • Mar 10, 2012 5:08pm Mar 10, 2012 5:08pm
Quoting Davit
Yes true I am new to forex however I have been making money .
My question was sincere however I didn't expect to get ego tantrum.
Thanks for not answering properly.

Surely you must be aware of the very strong correlation of the AUD
to the massive Chinese economic growth of the last 5 - 8 years ??

This latest Feb trade deficit was over 3 times worse than forecast .
  • #41,644
  • Mar 10, 2012 5:16pm Mar 10, 2012 5:16pm
Quoting Balmain Boy
Can't believe anyone on this forum can't grasp the implications .
If you have an FX account I'd suggest the best course of action is to close it .
Good article to post Balmain Boy.

Davit, Australia is China's biggest trading partner, the implications will tranpire a massive impact to Australian growth. How this impact will hit the market in the short term long term reactions, either way it's negative.

Adding to that recent emplyment and economic data is reflecting the declining scene.
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #41,645
  • Mar 10, 2012 5:19pm Mar 10, 2012 5:19pm
Quoting Balmain Boy
Surely you must be aware of the very strong correlation of the AUD
to the massive Chinese economic growth of the last 5 - 8 years ??

This latest Feb trade deficit was over 3 times worse than forecast .
No I was not aware.Thank you for your input.
In trading, you have to be defensive and aggressive at the same time
  • #41,646
  • Mar 10, 2012 5:22pm Mar 10, 2012 5:22pm
Quoting Bull_Bear
Good article to post Balmain Boy.

Davit, Australia is China's biggest trading partner, the implications will tranpire a massive impact to Australian growth. How this impact will hit the market in the short term long term reactions, either way it's negative.

Adding to that recent emplyment and economic data is reflecting the declining scene.
Thank you I have been trading live 1 week.
I have massive material to cover,Currently reading
B/S trading system and how that effects Price Action.
Obviously I have lot to catch up hence why I sighed up for this forum.
Thanks for your input.
In trading, you have to be defensive and aggressive at the same time
  • #41,647
  • Mar 10, 2012 8:27pm Mar 10, 2012 8:27pm
Hi Davit, Welcome to forex! If I may make a suggestion, keep your trades small until you get the hang of it.
Under my own trading plan, I don't care whether AUD/USD goes up or down, I just hope it moves up and down as much as possible. I am always long, in order to catch the swap and not pay any swap. I am happy when AUD/USD goes down; it is a buying opportunity. I am happy when it goes up; it is a selling opportunity. I don't use stops. I never close a long unless it is in profit. Yes, I know price could drop to 60 cents in 3 months time; but in another 4 months it would be back up to parity. Meanwhile I would be getting rich on the way back up. Don't put much faith in fundamentals. Fundamentally we are trading against the brokers and the banks. They will always push the price against the crowd, in order to shake out the weak hands. Happy trading! http://www.forexfactory.com/images/icons/icon7.gif
  • #41,648
  • Mar 10, 2012 8:40pm Mar 10, 2012 8:40pm
Fitch and Moody's have declared Greece to be in default. The bond holders loose 70% of the face value of their Greek bonds. http://www.forexfactory.com/images/icons/icon8.gif
  • #41,649
  • Edited 10:20pm Mar 10, 2012 9:21pm | Edited 10:20pm
Quoting Balmain Boy
Should gap down on Monday morning after this news out of China ;

http://online.wsj.com/article/SB1000...gle_wsj_gadgv1
Chinese data (in detail) is good for Australia as it's imports rose (last month Au$ fall after good Chinese trade balance due to drop in imports ) .it's hard to predict market move due to European situation


http://www.bloomberg.com/news/2012-0...s-gain-1-.html

Quote
Imports rose 39.6 percent from a year earlier, after a 15.3 percent slump in January, while exports increased 18.4 percent
Quote
Imports of copper by China last month were the second- highest on record
Quote
seasonal adjustments, exports in February rose 4 percent from a year earlier while imports gained 9.4 percent


http://www.customs.gov.cn/publish/po...info360001.htm (translated by Google , accuracy: questionable )

Quote
Customs statistics show that from January to February, China's iron ore imports 120 million tons, an increase of 5.7%
Mohan
  • #41,650
  • Mar 11, 2012 4:59am Mar 11, 2012 4:59am
Quoting mohan76
Chinese data (in detail) is good for Australia as it's imports rose (last month Au$ fall after good Chinese trade balance due to drop in imports ) .it's hard to predict market move due to European situation


http://www.bloomberg.com/news/2012-0...s-gain-1-.html






http://www.customs.gov.cn/publish/po...info360001.htm (translated by Google , accuracy: questionable )
Perhaps China is not able to as easily decouple from the US as previously thought. China has hidden data that grossly underestimates it's debt to gdp.
Before Forex I was tall, and clean shaven. Now I am an Ewok.
  • #41,651
  • Mar 11, 2012 9:53am Mar 11, 2012 9:53am
Quoting Whimtradr
So what just happened? ..or what should happen


Triple Top
is a pattern very similar to the Double Top -- only there are three distinctive tops rather than two. A triple top formation is a distinct chart pattern characterized by a rally to a new high followed by a moderate pullback and a second rally to test the new high. As the stock rallies to make the second peak (top) sellers overwhelm buyers and the stock price falters again This process is repeated a third time but buyers finally submit, support levels are broken and a massive...
1.0615 is broken. Open the flood gates and let it pour........
It's the simple things in life that have the most powerful meaning.
  • #41,652
  • Mar 11, 2012 1:47pm Mar 11, 2012 1:47pm
Frankly, I don't believe my own government data (USA). Even less do I believe China's Communist government data. If China's GDP were actually 8% per year, the Chinese would all be driving BMW's instead of bicycles. Nevertheless, even their lies move our markets; so I do pay attention. http://www.forexfactory.com/images/icons/icon8.gif
  • #41,653
  • Mar 11, 2012 1:57pm Mar 11, 2012 1:57pm
Quoting jerrycollie
Frankly, I don't believe my own government data (USA). Even less do I believe China's Communist government data. If China's GDP were actually 8% per year, the Chinese would all be driving BMW's instead of bicycles. Nevertheless, even their lies move our markets; so I do pay attention. http://www.forexfactory.com/images/icons/icon8.gif

I just wish they would start to tell lies again that makes AUD/USD move up the charts, we have had 2 weeks of lies for the bears, now time to lie for the bulls!!!
100 Pips per day can keep the bosses away.
  • #41,654
  • Mar 11, 2012 2:00pm Mar 11, 2012 2:00pm
Quoting jerrycollie
Frankly, I don't believe my own government data (USA). Even less do I believe China's Communist government data. If China's GDP were actually 8% per year, the Chinese would all be driving BMW's instead of bicycles. Nevertheless, even their lies move our markets; so I do pay attention. http://www.forexfactory.com/images/icons/icon8.gif
This is the beauty of trading by what the charts say. The charts cannot lie. Head fake here and there, but keeping in tune with the chart one does well to take the "fundamentals" with a grain of salt. How many times has "good news" come out only to run the affected currency in the opposite direction that one would have felt made common sense? Manipulation is the game of late. Charts reflect the true movement. News? Yes, knowing when a news event is to occur is necessary for the simple heads up that volatility is about to hit, one way or the other. Uh.... IMO anyways.
It's the simple things in life that have the most powerful meaning.
  • #41,655
  • Mar 11, 2012 2:03pm Mar 11, 2012 2:03pm
Quoting e585009
I just wish they would start to tell lies again that makes AUD/USD move up the charts, we have had 2 weeks of lies for the bears, now time to lie for the bulls!!!
Why not just roll with the direction of the movement? Why torment yourself with keeping with a one direction mindset? Easier to just move with the market at the given moment and pick off a few pips here and there.
It's the simple things in life that have the most powerful meaning.
  • #41,656
  • Mar 11, 2012 2:08pm Mar 11, 2012 2:08pm
Quoting lebleup
Why not just roll with the direction of the movement? Why torment yourself with keeping with a one direction mindset? Easier to just move with the market at the given moment and pick off a few pips here and there.
Positive swap chasing, because I cannot trade at work, so I can't manually put in trades on the fly. So I take long positions, been doing ok, but the last 2 weeks have been slooooooooooooow.
100 Pips per day can keep the bosses away.
  • #41,657
  • Mar 11, 2012 3:13pm Mar 11, 2012 3:13pm
I think we are on our way to parity
  • #41,658
  • Mar 11, 2012 3:33pm Mar 11, 2012 3:33pm
Quoting sidhujag
I think we are on our way to parity





100 Pips per day can keep the bosses away.
  • #41,659
  • Mar 11, 2012 3:59pm Mar 11, 2012 3:59pm
Quoting e585009
U should have been buying when I was barking like a dog to buy... but now im not buying anymore.. im just not selling because of the swap. I prefer to short something else if i am bearish.

U should leave this pair alone for now but ofcourse u won't listen (they never do) and will reload their account to com eback for more
  • #41,660
  • Mar 11, 2012 4:19pm Mar 11, 2012 4:19pm
Quoting sidhujag
U should have been buying when I was barking like a dog to buy... but now im not buying anymore.. im just not selling because of the swap. I prefer to short something else if i am bearish.

U should leave this pair alone for now but ofcourse u won't listen (they never do) and will reload their account to com eback for more
Just waiting to see what Institutions/Banks are going to do now with US Dollar.
100 Pips per day can keep the bosses away.
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