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  • #65,481
  • Sep 16, 2013 7:55pm Sep 16, 2013 7:55pm
the aussie is down against the cad, chf and nzd just to mention a few. I will stay up for another 40 mins or so as I need to get up later for uk data and german data. I still have my e/u shorts
the cautious seldom err....C
  • #65,482
  • Sep 16, 2013 7:56pm Sep 16, 2013 7:56pm
9270 looking to add to long
  • #65,483
  • Sep 16, 2013 7:59pm Sep 16, 2013 7:59pm
Quoting SpartanTrade
{quote} New gov't is focussing on fresh investment. Forget about depressed mining sector. Carbon Tax/Mining tax will be gone. There will be a continuation of the mining boom as we eliminate the policies of an overtaxing & incompetent government which will lead to more jobs, more confidence and more investment.
Markets tend to ignore new government promises or programs. If recent uptrend was only the result of new elections downtrend is more likely in the near term.
  • #65,484
  • Sep 16, 2013 8:03pm Sep 16, 2013 8:03pm
Quoting pips29
{quote} the gap is the bottom for the moment

Perhaps, but as you can see on the 15 minute, it bounced right off that double bottom.

Attached Image (click to enlarge)
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  • #65,485
  • Sep 16, 2013 8:05pm Sep 16, 2013 8:05pm
Quoting SpartanTrade
today's minutes is not about a rate cut or not, and although they may allude to a future cut, it ain't gonna happen
sure thing. It's about the future. thanks for clarifying but nobody knows what is going to happen apart from RBA.
  • #65,486
  • Sep 16, 2013 8:05pm Sep 16, 2013 8:05pm
Quoting pips29
{quote} the gap is the bottom for the moment
Pips29,

What is the T/P of your short?
(Hope you don't mind my question , no need to answer if mind.)
Simple is powerful all the time.
  • #65,487
  • Sep 16, 2013 8:07pm Sep 16, 2013 8:07pm

They can’t cut rates. The property market is overheating due to record low interest rates. The AUD should be higher than it is anyway. The government wants it down so that it can balance the budget, but they must raise interest rates so we don’t have a property bubble burst. That will send the AUD soaring. You’ll have a combination of high interest rates, low unemployment, China and other developing nations buying AU commodities, stable banking sector and re-investment in other sectors apart from mining which in turn will strengthen the economy even more and therefore the AUD even more.

  • #65,488
  • Sep 16, 2013 8:20pm Sep 16, 2013 8:20pm
Looks like we're going to sit around this double bottom until the news comes out.

Then we'll get a strong direction. I've got a very tight stop on my short, so if it fakes upwards, I'll be out quickly.
  • #65,489
  • Sep 16, 2013 8:28pm Sep 16, 2013 8:28pm
Good morning Asia pacific and evening U.S traders!

Surprised to see aussie hasn't pulled back 30pips (my trailing stop) since 0.9383 overnight.

We're trading at 50% of the last up move... which is also around 0.9300 psych

1hr momentum is getting oversold but has another push lower before retracing imo

Let's see how much volatility RBA minutes creates...
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  • #65,490
  • Sep 16, 2013 8:29pm Sep 16, 2013 8:29pm
It seems like we have quite bit of biases for a short play here, but I am sticking to a long position here. Looking at the D1 chart, from just a chartist view I would say this has broken a pretty significant resistance level and now isd pulling back. I am not saying short here is a bad move but the lowest I see this thing going is to simply fill the gap we had on open.
Will look to buy entry setups on smaller time frames whatever I can find to be the best.
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All posts are my personal opinion
  • #65,491
  • Sep 16, 2013 8:31pm Sep 16, 2013 8:31pm
Faked a little short and then headed up.

Ah well. Time to look for another entry.
  • #65,492
  • Sep 16, 2013 8:33pm Sep 16, 2013 8:33pm
Quoting Baggi
Faked a little short and then headed up. Ah well. Time to look for another entry.
  • #65,493
  • Sep 16, 2013 8:34pm Sep 16, 2013 8:34pm
Quote
RBA Minutes show further rate cuts are not off the table, though a cut is not imminent

Quote
RBA Minutes of September 3 policy meeting suggest low rates and the drop in the Australian dollar present 'substantial' policy stimulus

Quote
RBA minutes remark that despite the drop in the exchange rate, the Australian dollar is "still high"

- Dailyfx
  • #65,494
  • Sep 16, 2013 8:36pm Sep 16, 2013 8:36pm
Quoting RBlackburn
{quote} {quote} {quote} - Dailyfx
Lending rates had declined to historically low levels as a result, which, together with the lower – though still high – exchange rate, were continuing to provide a substantial degree of policy stimulus to the economy. This was most evident in the housing market, with the lags in the effect of policy meaning that earlier actions were still likely to take some time to have their full effect on demand more generally. These conditions would, over time, help the economy negotiate the prospective downshift in resources investment via a switch to other sources of demand.

Some further decline in the exchange rate would be helpful in achieving such an outcome.
Given the substantial degree of policy stimulus in place, the Board judged that it was appropriate to retain the current setting of interest rates. Members agreed that the Bank should again neither close off the possibility of reducing rates further nor signal an imminent intention to reduce them. The Board would continue to examine the data over the months ahead to assess whether monetary policy was appropriately configured.
  • #65,495
  • Sep 16, 2013 8:40pm Sep 16, 2013 8:40pm
Good morning all,
chanced a small long prior to news, looking to test overnight top.
I'll be wary of another attempt down to below 9300 and always expect the unexpected

cheers & green pips to all
Attached Image (click to enlarge)
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  • #65,496
  • Sep 16, 2013 8:40pm Sep 16, 2013 8:40pm
And it still went up rather than down. What does that tell you. This thing is going up and anything negative will be a speed bump to slow down and buy up!
  • #65,497
  • Sep 16, 2013 8:44pm Sep 16, 2013 8:44pm
no big deal...it is going down imo. checking out now
the cautious seldom err....C
  • #65,498
  • Sep 16, 2013 8:49pm Sep 16, 2013 8:49pm
Quoting SpartanTrade
And it still went up rather than down. What does that tell you. This thing is going up and anything negative will be a speed bump to slow down and buy up!
This ain't going up man.
  • #65,499
  • Sep 16, 2013 8:52pm Sep 16, 2013 8:52pm
Finally, it chose to go downside by itself!
Simple is powerful all the time.
  • #65,500
  • Sep 16, 2013 8:53pm Sep 16, 2013 8:53pm
Quoting pips29
no big deal...it is going down imo. checking out now

We are always in the same team...lol

South all the way!!!!
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