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AUD/USD

  • #62,581
  • Aug 20, 2013 8:03pm Aug 20, 2013 8:03pm
Quoting edindzeko
{quote} Right, just make money. No emotion. USD index is sitting at the bottom if its long-term trendline. Is tomorrow the catalyst to break the trendline or resume the trend?? Personally I think it will hold the TL, but in the next 3 months we could see the dollar in a world of hurt when a taper gets pushed back indefinitely. 10yr cant handle a taper...

I think the dollar will sell off tomorrow in the event that the FOMC will preach the same ol' "the economy is growing at a slow, but moderate, pace"

A taper has to happen. I think the longer they push it off, the weaker the dollar will become.
When the facts change I change my mind, what do you do sir
  • #62,582
  • Aug 20, 2013 8:04pm Aug 20, 2013 8:04pm
This is the USD after the minutes...


http://www.businessinsider.com/insan...rd-rail-2013-8
The coincidental success is more dangerous than the expected failure
  • #62,583
  • Aug 20, 2013 8:05pm Aug 20, 2013 8:05pm
Quoting Neqrotik
This is the USD after the minutes... http://www.businessinsider.com/insan...rd-rail-2013-8
I think so too. May trade up until then. Unfortunately I have to work, but a good thing there is mobile trading lol
When the facts change I change my mind, what do you do sir
  • #62,584
  • Aug 20, 2013 8:47pm Aug 20, 2013 8:47pm
Quoting Pip Anon
{quote} I think the dollar will sell off tomorrow in the event that the FOMC will preach the same ol' "the economy is growing at a slow, but moderate, pace" A taper has to happen. I think the longer they push it off, the weaker the dollar will become.
Exactly!

The Dollar ran up on the premise of a taper, looking back to May.

Now that a taper doesn't happen, it has to unwind this recent gain.
  • #62,585
  • Aug 20, 2013 8:53pm Aug 20, 2013 8:53pm
Quoting edindzeko
{quote} Exactly! The Dollar ran up on the premise of a taper, looking back to May. Now that a taper doesn't happen, it has to unwind this recent gain.
I think Bernanke backed himself in a corner by tying QE to forecasts because if he tapers without meeting those marks, it is possible the market will no longer trust him.
When the facts change I change my mind, what do you do sir
  • #62,586
  • Aug 20, 2013 11:42pm Aug 20, 2013 11:42pm
Hi


I think wave c going to start to upside

cheers
  • #62,587
  • Edited 11:58pm Aug 20, 2013 11:47pm | Edited 11:58pm
Looks like we have a possible head and shoulders on the weekly

Forming the right shoulder as we speak (if 9000 holds as support)
Be hopeful in a winning position, and fearful in a losing position.
  • #62,588
  • Aug 21, 2013 12:05am Aug 21, 2013 12:05am
A beautiful reverse head & shoulder pattern can be seen in AUD/USD weekly chart provided it manages to sustain above 0.90 today
Attached Image (click to enlarge)
Click to Enlarge Name: audusdmdaily.png Size: 21 KB
  • #62,589
  • Aug 21, 2013 12:08am Aug 21, 2013 12:08am
Quoting Forexgain
A beautiful reverse head & shoulder pattern can be seen in AUD/USD weekly chart provided it manages to sustain above 0.90 today {image}
is that weekly or daily???
  • #62,590
  • Aug 21, 2013 12:12am Aug 21, 2013 12:12am
Quoting Forexgain
A beautiful reverse head & shoulder pattern can be seen in AUD/USD weekly chart provided it manages to sustain above 0.90 today {image}
this chart was posted on 15th (sydney time),
we did break the neckline but was false breakout..

http://www.forexfactory.com/attachme...4&d=1376544248
  • #62,591
  • Aug 21, 2013 12:17am Aug 21, 2013 12:17am
Quoting HelloOz
{quote} is that weekly or daily???

It's weekly


Quoting HelloOz
{quote} this chart was posted on 15th (sydney time), we did break the neckline but was false breakout.. http://www.forexfactory.com/attachme...4&d=1376544248
I think it's yet to break neckline in weekly charts. I am expecting a sharp rebound post FOMC but who knows what's really gonna happen. Eagerly waiting
  • #62,592
  • Aug 21, 2013 12:19am Aug 21, 2013 12:19am
Quoting Forexgain
A beautiful reverse head & shoulder pattern can be seen in AUD/USD weekly chart provided it manages to sustain above 0.90 today {image}
lol..

yes

i think we all notice it at the same time


ignore the daily.. this is weekly chart
Attached Image
Be hopeful in a winning position, and fearful in a losing position.
  • #62,593
  • Aug 21, 2013 12:20am Aug 21, 2013 12:20am
Quoting Pip Anon
{quote} I think Bernanke backed himself in a corner by tying QE to forecasts because if he tapers without meeting those marks, it is possible the market will no longer trust him.
I still think its possible we see a taper, but it will be small, very small.

So small that the market will have likely priced most of it in already and it will be a non-event.. or relatively small event
Be hopeful in a winning position, and fearful in a losing position.
  • #62,594
  • Aug 21, 2013 12:30am Aug 21, 2013 12:30am
Quoting Forexgain
A beautiful reverse head & shoulder pattern can be seen in AUD/USD weekly chart provided it manages to sustain above 0.90 today {image}
Head and Shoulders: http://www.top-forex-systems.com/str...head-shoulders
  • #62,595
  • Aug 21, 2013 12:42am Aug 21, 2013 12:42am
Quoting Trade2Day
{quote} Head and Shoulders: http://www.top-forex-systems.com/str...head-shoulders
You don't know that they work for both sides of the market?
Be hopeful in a winning position, and fearful in a losing position.
  • #62,596
  • Aug 21, 2013 12:50am Aug 21, 2013 12:50am
Quoting Rag2RichesFX
{quote} You don't know that they work for both sides of the market?
You mean inverted head and shoulders?

I wasn't disputing the actual description of "head and shoulders" in anyone's post. Inverted or not, it's the same thing. I was just providing an illustration of what the setup looks like in general for the rookies who may be unfamiliar with them.
  • #62,597
  • Aug 21, 2013 12:54am Aug 21, 2013 12:54am
Quoting Rag2RichesFX
{quote} You don't know that they work for both sides of the market?

it works for my hair too
  • #62,598
  • Aug 21, 2013 12:55am Aug 21, 2013 12:55am
Quoting Gwan
{quote} it works for my hair too
  • #62,599
  • Aug 21, 2013 3:05am Aug 21, 2013 3:05am
Attached Image
  • #62,600
  • Aug 21, 2013 4:09am Aug 21, 2013 4:09am
this H&S spotted on H1
http://www.top-forex-systems.com/_/r...26s%20down.bmp
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