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AUD/USD

  • #42,241
  • Mar 23, 2012 3:48am Mar 23, 2012 3:48am
Quoting jerrycollie
Oh forex gods, why hast thou forsaken thy faithful bulls? We dreamed of green pastures full of dollar bills. Now we are told to eat swap while the bears dine on milk and honey, and drink fine wines. http://www.forexfactory.com/images/icons/icon8.gif
  • #42,242
  • Mar 23, 2012 5:08am Mar 23, 2012 5:08am
Quoting egkid
I [email protected]
Strong R on daily
Will close [email protected]
I don't have time for this pair too much correction e/u is more trending and more money flow.
  • #42,243
  • Mar 23, 2012 7:05am Mar 23, 2012 7:05am
Quoting mima
Well AUDUSD dropped 260 pips or so in 3 days...Why is that not profitable? 260 pips is non-existent movement?
My comment was about AU's yesterday's movement. For the days before yesterday, I was trading in AU. But to answer your question: I trade intraday so No, a 200-pip actually, not 260-pip movement over several days is not what I would consider movement, especially when that "movement" included this ONE dip of 80 pips. Taking away of this ONE dip, you are only left with 120 pips to trade with. That's not enough but I still try to get some pips out of it so I can put food on the table at the end of the day.

Good day and good trading to all!
Make your losses in demo. Earn your profits live.
  • #42,244
  • Mar 23, 2012 7:06am Mar 23, 2012 7:06am
Quoting egkid
Will close [email protected]
I don't have time for this pair too much correction e/u is more trending and more money flow.
My sentiments exactly.
Make your losses in demo. Earn your profits live.
  • #42,245
  • Mar 23, 2012 7:07am Mar 23, 2012 7:07am
aud and sp falling. eur up. both not running the same lane.
  • #42,246
  • Mar 23, 2012 8:20am Mar 23, 2012 8:20am
Quoting Leunammj
aud and sp falling. eur up. both not running the same lane.
Its Friday so crazy movements r normal.
AUD made nice move up in the last hour.
  • #42,247
  • Mar 23, 2012 10:33am Mar 23, 2012 10:33am
I placed a buy AUDUSD at 1.04371 I will hold it over the weekend.
  • #42,248
  • Mar 23, 2012 10:42am Mar 23, 2012 10:42am
Quoting jerrycollie
I think forexia is right. There is a world-wide currency war going on with each country trying to lower the value of its currency in order to increase exports. Up until last week or so, I thought the United States with its high-speed printing presses was winning this war. Maybe the Chinese cut off Bernanke's supply of green ink? http://www.forexfactory.com/images/icons/dollar.gif
Oh really.
  • #42,249
  • Mar 23, 2012 10:44am Mar 23, 2012 10:44am
Quoting mima
Well AUDUSD dropped 260 pips or so in 3 days...Why is that not profitable? 260 pips is non-existent movement?
AUDUSD is one of the best currencies to trade. Has some of the strongest movements of any pair with plenty of opportunity to make money.
  • #42,250
  • Mar 23, 2012 11:05am Mar 23, 2012 11:05am
Quoting jerrycollie
I think forexia is right. There is a world-wide currency war going on with each country trying to lower the value of its currency in order to increase exports. Up until last week or so, I thought the United States with its high-speed printing presses was winning this war. Maybe the Chinese cut off Bernanke's supply of green ink? http://www.forexfactory.com/images/icons/dollar.gif
What a stupid comment.. go read a book. Didn't you just read the minutes where they said they have no reason to devalue? As soon as you do that you lose credibility. It's not like AUD is up in ranks with BOJ/FED. Ppl have been buying AUD for months and if you weren't so lazy you would look up a daily chart and see that. Just because you are long like the rest of the noobs you are just too late to catch that last trend. It will suffocate all of the noobs before continuing up because there is a correlation between S&P and AU that will come back sooner or later. Maybe parity maybe 95ish.

If you really want to learn something read my comments about when they WOULD consider devaluing because it would hurt their economy too much.
  • #42,251
  • Mar 23, 2012 11:12am Mar 23, 2012 11:12am
Possible ending diagonal at 3min...
Use me as a contrarian indicator
  • #42,252
  • Mar 23, 2012 12:14pm Mar 23, 2012 12:14pm
Quoting sidhujag
What a stupid comment.. go read a book. Didn't you just read the minutes where they said they have no reason to devalue? As soon as you do that you lose credibility. It's not like AUD is up in ranks with BOJ/FED. Ppl have been buying AUD for months and if you weren't so lazy you would look up a daily chart and see that. Just because you are long like the rest of the noobs you are just too late to catch that last trend. It will suffocate all of the noobs before continuing up because there is a correlation between S&P and AU that will come back sooner...
Do you really believe everything that the government publishes?? Does the government tells you everything that it does?

AUD is an exporting country. For any exporting countries, a cheaper local currency would always benefit them. Especially when what they are exporting is commodities, natural resources material which they have no say in its commodities' prices. They would only be able to sell more if the price when converted into the buyer's currency is cheaper and the way to do that is with a cheaper currency. Say China is looking for 100 tons of iron ore, when the New Zealand dollar is cheaper than Australian dollar, when iron from New Zealand is exactly the same as the ones from Australia and the price of the iron ore itself is the same, guess which country China is going to buy the iron from when New Zealand is right next to Australia when transportation is concerned? Australia might have more leeway on transporation-dependant goods but otherwise, they are quite sensitive to their currency exchange rates.

And this is quite a common phenomenon among resource-based countries like Canada, Brazil, Venezuela, Chili and etc. And that is why you see countries like Brazil, Chili intervene all the time in the currency market.
Make your losses in demo. Earn your profits live.
  • #42,253
  • Mar 23, 2012 2:58pm Mar 23, 2012 2:58pm
AUD touch down, possibly
Attached Image (click to enlarge)
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  • #42,254
  • Mar 23, 2012 10:14pm Mar 23, 2012 10:14pm
I just did an analysis of trading opportunities on AUD and EURO for the week just finished. I used the same entry/exit criteria for both (it does not matter what the criteria were as long as they are the same for both pairs).
This is what I came up with:
AUD Asian session 300 available pips
AUD London session 256 available pips
AUD NY open session 100 available pips
AUD Late session* 77 available pips
TOTAL AVAILABLE PIPS 733

EURO Asian session 41 available pips
EURO London session 343 available pips
EURO NY open 200 available pips
EURO Late session* 38 available pips
TOTAL AVAILABLE PIPS 622

* I define the late session as times when I would be sleeping (I live in Australia).
So you can see that AUD trades best during Asian and London sessions and EURO trades best during London and NY sessions.
This is probably no surprise.
I hope this helps somebody plan their trading.
Cheers, Harry The hardest way to make easy money.
  • #42,255
  • Mar 23, 2012 10:17pm Mar 23, 2012 10:17pm
Quoting HarryJ
I just did an analysis of trading opportunities on AUD and EURO for the week just finished. I used the same entry/exit criteria for both (it does not matter what the criteria were as long as they are the same for both pairs).
This is what I came up with:
AUD Asian session 300 available pips
AUD London session 256 available pips
AUD NY open session 100 available pips
AUD Late session* 77 available pips
TOTAL AVAILABLE PIPS 733

EURO Asian session 41 available pips
EURO London session 343 available pips
EURO NY open 200 available pips
EURO...

nice work ,buddy
  • #42,256
  • Mar 23, 2012 11:06pm Mar 23, 2012 11:06pm
Quoting Forexia
Do you really believe everything that the government publishes?? Does the government tells you everything that it does?

AUD is an exporting country. For any exporting countries, a cheaper local currency would always benefit them. Especially when what they are exporting is commodities, natural resources material which they have no say in its commodities' prices. They would only be able to sell more if the price when converted into the buyer's currency is cheaper and the way to do that is with a cheaper currency. Say China is looking for...
agree to look between the lines but not everyone subscribes to hockey pockey economics like some other cbs and when they stop intervening what then? Market will gladly carry on like nothing happened??? No

yes they want cheap dollar but also at one point it was attractive to have a stronger dollar
  • #42,257
  • Mar 23, 2012 11:13pm Mar 23, 2012 11:13pm
ive said 1.2 is breaking point below that its just a slowdown. Govt womt sacrifice credibility unless it has to like snb or boj which are at much more critical levels of instabilty due to their currency. Hey usd never looked cheaper
  • #42,258
  • Mar 24, 2012 1:14am Mar 24, 2012 1:14am
Quoting sidhujag
What a stupid comment.. go read a book. Didn't you just read the minutes where they said they have no reason to devalue? As soon as you do that you lose credibility. It's not like AUD is up in ranks with BOJ/FED. Ppl have been buying AUD for months and if you weren't so lazy you would look up a daily chart and see that. Just because you are long like the rest of the noobs you are just too late to catch that last trend. It will suffocate all of the noobs before continuing up because there is a correlation between S&P and AU that will come back sooner...
Do u mean longing it for a few months in its current state right now? Why would u do that? Its obviously better to wait for the pullbacks unless it magicly breaks a few resistance levels. There wont be much in the longs but its worth an attempt if your a day trader
  • #42,259
  • Mar 24, 2012 7:44am Mar 24, 2012 7:44am
Do you see it going higher than 1.47 next week?

Quoting Noobicle
AUD touch down, possibly
  • #42,260
  • Mar 24, 2012 10:26am Mar 24, 2012 10:26am
Quoting Noobicle
Do u mean longing it for a few months in its current state right now? Why would u do that? Its obviously better to wait for the pullbacks unless it magicly breaks a few resistance levels. There wont be much in the longs but its worth an attempt if your a day trader
exact opposite
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