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AUD/USD

  • #42,861
  • Apr 10, 2012 7:47pm Apr 10, 2012 7:47pm
Quoting sidhujag
this time it usually changes direction, somtimes you can catch the high/low of the day here.. in this case a nice short with SL at 1.0280 tp could be way below if it is the high of the day.
I was thinkin of an entry around 280 but then i had a look at the other pairs an it looks like the bulls are getting warm but then i thought this usually happens during asian session an then us session comes out an bottoms it out again so im just confused
  • #42,862
  • Apr 10, 2012 8:24pm Apr 10, 2012 8:24pm
Quoting mrbandwidth
BTW, up to ~305 to build an H&S pattern at 1h?

...and ~307 = 61.8% retracement...
Use me as a contrarian indicator
  • #42,863
  • Apr 10, 2012 9:04pm Apr 10, 2012 9:04pm
Quoting mrbandwidth
...and ~307 = 61.8% retracement...
lol the HS is a bit dodgy at best, but I can see it. Agreed on the fib level. personally Im in favor of a continued bearish trend, just waiting to find the right entry.
  • #42,864
  • Apr 10, 2012 9:12pm Apr 10, 2012 9:12pm
Quoting Noobicle
I was thinkin of an entry around 280 but then i had a look at the other pairs an it looks like the bulls are getting warm but then i thought this usually happens during asian session an then us session comes out an bottoms it out again so im just confused

well gold has been dragging down while AU makes new highs, so something has to give gold is probably a bigger market so it may take precedence once London opens.
  • #42,865
  • Apr 10, 2012 9:21pm Apr 10, 2012 9:21pm
Quoting mrbandwidth
N-O-W


  • #42,866
  • Apr 10, 2012 9:22pm Apr 10, 2012 9:22pm
Quoting sidhujag
well gold has been dragging down while AU makes new highs, so something has to give gold is probably a bigger market so it may take precedence once London opens.
could be due to gold bar demand , don't forgot last night au drop while gold gaining
Mohan
  • #42,867
  • Apr 10, 2012 10:09pm Apr 10, 2012 10:09pm
Quoting monkey@forex
im no economist but err a rate cut wouldnt be bullish for aussie...on one level a rate cut may stimulate greater lending locally and that may improve growth or employment, but that will have an effect couple of months down the line...a rate cut would mean that fx carry trade is more risky as, u could borrow from US at 0.5% and get interest in aussie at 4% but only if the exchange rate holds up...if aussie exchange rate starts dropping as it has then your 4% return means crap all if currency drops in value 10-20%...

and err...the support at 1.0250...
Are you taking into acct that investors are pricing in a rate cut right now? There may be a short spike after the rate cut announcement but unless the statement is ultra dovish, I think it'll start to pick up again. Essentially you Ned to know if u can withstand the roller coaster ride
  • #42,868
  • Apr 10, 2012 10:20pm Apr 10, 2012 10:20pm
1.0312ish could be a good place to short........if it gets there
.
  • #42,869
  • Apr 10, 2012 10:39pm Apr 10, 2012 10:39pm
Aud/Usd 4hr chart...

There are a few things lining up here, is it worth a long....
Attached Image (click to enlarge)
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  • #42,870
  • Apr 10, 2012 10:44pm Apr 10, 2012 10:44pm
are we going to see resistance here?..........a close over line (thin brown) and next resistance 314 ish

.
Attached Image (click to enlarge)
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  • #42,871
  • Apr 10, 2012 10:47pm Apr 10, 2012 10:47pm
I'm a little in two minds, the 4hr is at a 61.8 and the daily is sitting on a 50% retracement...but there are signs it could fall as well.

I suppose the contrarian would go long, because looking at the chart, most traders would short it here...

anyone else have any thoughts?
  • #42,872
  • Apr 10, 2012 11:00pm Apr 10, 2012 11:00pm
Quoting AusPunter79
I'm a little in two minds, the 4hr is at a 61.8 and the daily is sitting on a 50% retracement...but there are signs it could fall as well.

I suppose the contrarian would go long, because looking at the chart, most traders would short it here...

anyone else have any thoughts?
I am going short here short with a SL above the 61% Fib Retracement..
  • #42,873
  • Apr 10, 2012 11:12pm Apr 10, 2012 11:12pm
i've got GBPAUD60 at support
.
Attached Image (click to enlarge)
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  • #42,874
  • Apr 10, 2012 11:55pm Apr 10, 2012 11:55pm
sold
  • #42,875
  • Apr 11, 2012 12:02am Apr 11, 2012 12:02am
think, we'll get to 0315ish.......then resistance!?

.
  • #42,876
  • Apr 11, 2012 12:31am Apr 11, 2012 12:31am
Perhaps you are right sir peter, shouldnt be too far to the top, us session should send this back down hopefully, bottom an top formed in 1 day?
  • #42,877
  • Apr 11, 2012 12:36am Apr 11, 2012 12:36am
perhaps!!..........what do you mean........ (wink)

Quoting Noobicle
Perhaps you are right sir peter, shouldnt be too far to the top, us session should send this back down hopefully, bottom an top formed in 1 day?
  • #42,878
  • Apr 11, 2012 1:00am Apr 11, 2012 1:00am
Quoting PeterE
perhaps!!..........what do you mean........ (wink)
  • #42,879
  • Apr 11, 2012 2:26am Apr 11, 2012 2:26am
Quoting mrbandwidth
BTW, up to ~305 to build an H&S pattern at 1h?

...mumble, mumble...
Use me as a contrarian indicator
  • #42,880
  • Apr 11, 2012 3:21am Apr 11, 2012 3:21am
anyone want to short 0316???
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