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AUD/USD

  • #57,121
  • Dec 12, 2012 8:24am Dec 12, 2012 8:24am
Quoting DaEdge
Damn FOMC has everyone in wait & see mode.
Falling Off My Chair
  • #57,122
  • Dec 12, 2012 8:25am Dec 12, 2012 8:25am
Quoting Ken A
Falling Off My Chair
Nice little pop in these yen crosses tho. Happy something is moving.
It works till it doesn't
  • #57,123
  • Dec 12, 2012 8:56am Dec 12, 2012 8:56am
i choose to short it before the FOMC meeting .
Attached Image (click to enlarge)
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A chart helps those who can read it.
  • #57,124
  • Dec 12, 2012 10:12am Dec 12, 2012 10:12am
Yep me too. -30 pips

I'm also thinking why oh why did I not add to my eurjpy longs when it broke resis.
  • #57,125
  • Dec 12, 2012 2:17pm Dec 12, 2012 2:17pm
Quoting Iro
Yep me too. -30 pips

I'm also thinking why oh why did I not add to my eurjpy longs when it broke resis.
will we see parity??
  • #57,126
  • Dec 12, 2012 2:18pm Dec 12, 2012 2:18pm
Quoting Ken A
Falling Off My Chair
Falling Onto My Coffin
  • #57,127
  • Dec 12, 2012 2:20pm Dec 12, 2012 2:20pm
Quoting HelloOz
Falling Onto My Coffin
I am sure you are fine.
  • #57,128
  • Dec 12, 2012 2:26pm Dec 12, 2012 2:26pm
Quoting Ken A
I am sure you are fine.
I am fine.
thanks.
  • #57,129
  • Dec 12, 2012 7:49pm Dec 12, 2012 7:49pm
Thought this is worth a read for Australia's longer term prospects:

http://www.businessspectator.com.au/...iebsen&src=msp
Hope for the best, prepare for the worst.
  • #57,130
  • Dec 12, 2012 9:47pm Dec 12, 2012 9:47pm
Heh so basically the guy says its all the union's fault.

Which is totally bullshit imo, its BECAUSE OF the unions that we have benefited so much from the mining boom. Without them people would be getting those shitty third world wages like in the US. The only people who'd benefit would be shareholders of those foreign owned companies like BHP and Rio. But because of our unions and high taxes, people have great pay, and the government receives lots of money to spend on important things like universal health care and other stuff like the $2000 to every Australian stimulus package that bailed Australia out of the financial crisis.

If that bozo commentator had their way, we'd be stuck with individual bargaining agreements like "work choices". We'd be working our butts off like slaves for next to nothing while the rich CEOs get all profits from the mining boom. And probably stash all the money in the Cayman Islands to boot.
  • #57,131
  • Dec 12, 2012 9:56pm Dec 12, 2012 9:56pm
Quoting Iro
Heh so basically the guy says its all the union's fault.

Which is totally bullshit imo, its BECAUSE OF the unions that we have benefited so much from the mining boom. Without them people would be getting those shitty third world wages like in the US. The only people who'd benefit would be shareholders of those foreign owned companies like BHP and Rio. But because of our unions and high taxes, people have great pay, and the government receives lots of money to spend on important things like universal health care and other stuff like the $2000 to...
unfortunately, unions dont give a damn during difficult times.
take a look at Qantas, business is tough and union demand pay rise.
  • #57,132
  • Dec 12, 2012 10:19pm Dec 12, 2012 10:19pm
Quoting Iro
Heh so basically the guy says its all the union's fault.

Which is totally bullshit imo, its BECAUSE OF the unions that we have benefited so much from the mining boom. Without them people would be getting those shitty third world wages like in the US. The only people who'd benefit would be shareholders of those foreign owned companies like BHP and Rio. But because of our unions and high taxes, people have great pay, and the government receives lots of money to spend on important things like universal health care and other stuff like the $2000...
Australia has the biggest mining boom in history,ends up with a govt debt of $250 billion and nothing to show for it.
  • #57,133
  • Dec 12, 2012 11:19pm Dec 12, 2012 11:19pm
Quoting Iro
Heh so basically the guy says its all the union's fault.

Which is totally bullshit imo, its BECAUSE OF the unions that we have benefited so much from the mining boom. Without them people would be getting those shitty third world wages like in the US. The only people who'd benefit would be shareholders of those foreign owned companies like BHP and Rio. But because of our unions and high taxes, people have great pay, and the government receives lots of money to spend on important things like universal health care and other stuff like the $2000...
I thought he also targeted the government & opposition as being shortsighted, not just having a swipe at unions. Anyway my point in sharing the link was more about some of the problems facing Australia. I'm not a big fan of unions personally, but I don't blame them. We all need to consider those around us a bit more rather than just looking after our own interests if we want the world to be a better place. Unfortunately those who do consider others sometimes get taken advantage of.
Hope for the best, prepare for the worst.
  • #57,134
  • Dec 12, 2012 11:32pm Dec 12, 2012 11:32pm
http://www.businessspectator.com.au/...20121212-2WQ48

funny that reserve banks buying aud suggest to to RBA to intervene and drop value of AUD ?!?!

real message here is that AUD is fundamentally UNDERVALUED, like it or not.
  • #57,135
  • Edited 1:49am Dec 13, 2012 12:20am | Edited 1:49am
Quoting lasty
Australia has the biggest mining boom in history,ends up with a govt debt of $250 billion and nothing to show for it.
For someone living in Australia I beg to differ. My parents bought a 3 story house and 2 investment properties in the 90's that have basically trippled in value, with no sign of dropping any time soon. My brother has been able work as a truck driver where he gets 150k to sit in air conditioned mining trucks all day. My collective bargaining agreement allows me to have paid vacations twice a year, overtime bonuses and 20% of my income tax free going straight into my super. When I compare the conditions my American peers have with mine, I consider myself very damn lucky. And its all thanks to China and successive uber taxing governments.

Even if the cash rate is 3.0%, you can still open savings accounts with ubank which gives a deposit rate of nearly 5% risk free. Compare that to the 0% financial oppression savers in the US have to go through. Plus the rising income inequality, polluted water due to fracking, crazy murderers with guns, religious busy bodies, republicans and democrats at each other's throats all the time....

Its no comparison. Some people might consider the current conditions "tough" in Australia but hell that's only because they've had it good for so long they've got no perspective. Which is why smart foreign investors are flocking into aud assets even though the domestic investors seem to be running away. When the global economy picks up again, it'll be people who are already invested that will benefit most.

Remember when everyone on this thread was going like China was about to explode, posting these ridiculous articles about China's electricity output has dropped more than 50% and how AUD was going to drop to 90c 80c at year end like those stupid bankers at Goldman, Westpac and Nab said it would? Me Ken A, 100pips and a few other bulls just ignored them and picked up aussies on the cheap. Just watch 5 years from now when the aussie will be well above 1.10 I'll be thanking all these sillly AUD/China bears all the way to bank.
  • #57,136
  • Edited 12:51am Dec 13, 2012 12:41am | Edited 12:51am
http://www.bankfotek.pl/image/1377393.jpegnice
  • #57,137
  • Edited 1:25am Dec 13, 2012 1:08am | Edited 1:25am
Hi all,

My very first post, but I pretty much only trade the AUDUSD - being an ozzie myself - so I thought I'd say "Hi". I've been trading for just over a year now and have lurked around this thread for a bit - thanks for the interesting discussion/information folks!

Cheers!
  • #57,138
  • Dec 13, 2012 1:14am Dec 13, 2012 1:14am
australia is derivative of derivative of global growth. thats why aud is sooo interesting. '12 was dry profit wise, and AUD trades made 90 % of my profits.

I am quite confident '13 will heat up and provide lots more opportunities. '12 looks like compression. Everyone crying bad year including me when comparing to '11.

however, i will not stick to AUD long story. It worked which does not mean it will continue so... I will not consider selling it until after new year. There could be nasty RBA intervention brewing...
  • #57,139
  • Dec 13, 2012 1:23am Dec 13, 2012 1:23am
BUY
If the price breaks through the level 1.05896 bullish movement will start. Targets of the bullish movement: 1.06201, 1.06506.
SELL
If the price breaks through the level 1.05286 bearish movement will start. Targets of the bearish movement: 1.04980, 1.04675.
  • #57,140
  • Dec 13, 2012 4:49pm Dec 13, 2012 4:49pm
looks possible
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