just saw an interesting price level for bull rescuers, 1.02043-1.02096 looks to be a very good pullback level for LONG entry. This would be the final defence line for bulls to survive in this down thrust. Price should respect this area with sufficient pullback for stops to move to BE
How do ya make a bear smile? Short the Aussie
Came home from work to find 50 pips waiting for me. Got one final short running targeting 1.01
Certainly been a learning curve for me the last couple of months. there are a few things I must not do in my future trading efforts
1 is not to hold shorts that go against me, swaps expensive with the aussie
Came home from work to find 50 pips waiting for me. Got one final short running targeting 1.01
Certainly been a learning curve for me the last couple of months. there are a few things I must not do in my future trading efforts
1 is not to hold shorts that go against me, swaps expensive with the aussie
"You know what needs to be addressed , completely completely reverse that".
- #42,707
- Edited 7:40am Apr 4, 2012 7:27am | Edited 7:40am
- | Joined Feb 2010 | Status: Trader | 1,085 Posts
Use me as a contrarian indicator 
- #42,708
- Apr 4, 2012 8:42am Apr 4, 2012 8:42am
This is a game of trickery. The estimate for the AUD trade balance was 1.2Billion. Who in their right mind actually, honestly, put this number in as a benchmark? 
They already knew 1.2B was way way way to high. I guess in Australia they are trying to run the currency value down for the time being in order to booster their export economy and start the cycle all over again. i predict that China really did not slow down, but they told Australia that they want to pay a cheaper cost for their goods, and when the Aussie is at the level China want's, then all of a sudden, it will be boom town again with trade between China and Australia. 
They already knew 1.2B was way way way to high. I guess in Australia they are trying to run the currency value down for the time being in order to booster their export economy and start the cycle all over again. i predict that China really did not slow down, but they told Australia that they want to pay a cheaper cost for their goods, and when the Aussie is at the level China want's, then all of a sudden, it will be boom town again with trade between China and Australia. 100 Pips per day can keep the bosses away. 
This is a game of trickery. The estimate for the AUD trade balance was 1.2Billion. Who in their right mind actually, honestly, put this number in as a benchmark?
yes i tend to agree with your analysis.the CNY CPI figures will be important and if the figure drops it may give PBOC the headroom to relax the RRR for banks.
on the other hand if the inflation remains high then RBA will have to devalue currency to increase exports.
china is in commanding position but bottom line for them is how much the outlook deteriorates in the foreseeable future for them before they can start the new monetary loosening
- #42,714
- Apr 4, 2012 5:04pm Apr 4, 2012 5:04pm
Have we just hit the bottom?
100 Pips per day can keep the bosses away.
- #42,715
- Apr 4, 2012 5:22pm Apr 4, 2012 5:22pm
I'm sure the start of the Japan session will go lower....at least that's what I have been seeing. OK.. FED did not say "yes" to QE3 and China's PMI showed us 2 reports of them "slowing-down"...The beat-down to 1.0200 area has taken a month...can we please go up .. JeeeeZ
- #42,716
- Apr 4, 2012 5:32pm Apr 4, 2012 5:32pm
Yeah im not sure how correct i am with this but diddnt we see bad data out of AUD in the japan sessions? I dont really see much that could push this down more today
, so you can figure how bad my trade looks... It might be Obama wanting to fake a good economy so he can win again.
100 Pips per day can keep the bosses away.
- #42,717
- Apr 4, 2012 5:50pm Apr 4, 2012 5:50pm
I got caught in a whipsaw... in March ...
^_^
- #42,718
- Apr 4, 2012 5:56pm Apr 4, 2012 5:56pm
There also seems to be alot of 'fears' about the '2nd' largest economy in the world going down, and also 'cheating tho, hmm..
^_^
... my AUD/USD needs China to stand so my longs can close...
100 Pips per day can keep the bosses away.
China has to stand, because USA needs them to keep buying T-Bills, and USA has to stand because China needs us to buy their lead based products
That really brought a smile to my face.If 100-101 can hold within the next week or two, I think Aussie will be strong till summer (my guesstimate only).
- #42,720
- Apr 4, 2012 6:05pm Apr 4, 2012 6:05pm
China has to stand, because USA needs them to keep buying T-Bills, and USA has to stand because China needs us to buy their lead based products
Im long anyway, will see where she goes an play with this trend i suppose untill we get some more positive from china an what not