AUD/USD

AUD/USDhttp://www.autochartist.com/ssresearch/images/down.png

Summary

Target Level 0.8892

Target Period 7 days

Stop Level 0.935475

Analysis
Channel Up identified at 13-Sep 02:00 GMT-2. This pattern is still in the process of forming. Possible bearish price movement towards the support 0.889 within the next 7 days.

Supporting Indicators
RSI above 60

Source: AlpariFX

I wonder why on earth investors wait for the news (u know, Aussie doing the stupid/typical going up and down consolidation thing) ?
I mean, it's that it? AUD depends on USD core retail bloody data to move up or down? i believe it's stupid

but you're playing a pair... aud/usd... and usd is affected by US core retail data.. so aud/usd is affected by it..
its not stupid.. its just that the weakness of usd affects aud/usd as much as how the strength of aussie affects it....

But can a whole economy just depend on them? no. China is more important here. I mean, the point maybe I make is that it seems only gambles are in the market...a whole economy (the currency) depends and waits 12 hs until the core retail news is released?

on the other hand, how many times we saw that news had little, quick or no effect on a pair? yes still every one was waiting for the news...not sure if i make my point clearly.

it won't be wrong to say only gamblers are in the market...

think of it as supply and demand, or greed and fear...
the market has a direction, it can be up, down or sideways or whichever... u may know, u may never know, and we read charts to see if we can catch a glimpse of where this direction is..

news just causes reaction or no reaction, amplifies the movement if the news is worthy of a reaction.. or start/change a trend.... market decides...

just my personal view =D

Looking like a short is favoured on the daily

rangy and accumulation for short or long. I am favouring short as it is, but has done nothing yet

Hi
Why? what do you see in that daily chart?

took this on 5mtf. a bit late as I was busy posting a/u charts. 78.6 reject play .monitoring on m1 as metal moves very fast. At the moment only this trade

sorry for late reply . was looking at gold chart. The 200ema was in the way,so I remove it from the chart for gold to go higher and I notice it works.Will put back the 200ema to act as resistence now. Voodoo trading! The daily shows a bearish pattern. I think it's called evening star and the H1 chart was ranging for a no. of hrs. looking more like distribution

sigh... my position is just swinging no where... should i just leave it or cut it before us job news.. =/

I am afraid I can't make decision for you. All I have given are thoughts and insights of myself. And may I add, I don't really get bogged down with news and on many ocassions I even forgot there were news. I recommend trading off your own chart

evening star

yeah, correct

aussie been testing 9250 like a fly hitting a clean windscreen.... will it break it? maybe...i mean since 1050 never got even to 38 fib level...

don't trade it until you see a break lower/higher. My bias at the moment is bearish. Had to use the toilet just awhile ago and when I came back i saw my gold trade stopped out with small gain. Shitty things do happen when you are in the toilet!

Morning, without a HH this will stay bearish.

Although I'm standing by my original predictions, I'll be looking to close all my positions by weds next week. FOMC could be a big problem for all pairs. If they announce a taper, all markets are gonna be ugly.

edit: London already made their LL, expect US to make their own LL today as well

is this breaking down now?

still bearish aud

What'/s your experience guys with Fib? like do you expect the aussie to eventually touch 38 ? i mean ...after such a fall...but anyway...market do what market does