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AUD/USD

  • #66,841
  • Oct 1, 2013 2:01am Oct 1, 2013 2:01am
wew, i underestimate the upward movement, double top now possible
  • #66,842
  • Oct 1, 2013 2:06am Oct 1, 2013 2:06am
price likely to retrace lower from 0.9420 towards . r t s 0.9402. breach then R T S daily on 0.9355 area for potential long position.

this is only valid if current 0.9421 area is not over lap by further bull momentum.

identified a possible range 0.9420-0.9280, only a bear pa from here can validate this showing offers. Current momentum across all pairs on break out mode.

eu just pierce as well. gu monthly fat marabuzo.
  • #66,843
  • Oct 1, 2013 2:08am Oct 1, 2013 2:08am
Quoting kumaramy
{quote} AUDUSD: Here is your answer....
Thank you ...nice set up...I missed it ...because of staring in lower TF
The Market pays you to be disciplined
  • #66,844
  • Oct 1, 2013 2:34am Oct 1, 2013 2:34am
Rate is now @lowest Gray soft resistance. Very Short term traders, be careful at that level. Ref : Post #66837
-milkeyway
  • #66,845
  • Oct 1, 2013 3:17am Oct 1, 2013 3:17am
Quoting SpartanTrade
Im bullish as ever but I agree with fxtyrant that once US funding shit gets sorted there will be a heavy albeit temporary decline realistically 9200 is not out of the short term picture yet
I thought you were long?
I have no clue what I'm talking about.
  • #66,846
  • Oct 1, 2013 3:40am Oct 1, 2013 3:40am
Quoting iNSIELD
AUD/NZD looks promising
promising for long?
  • #66,847
  • Oct 1, 2013 3:46am Oct 1, 2013 3:46am
Quoting kumaramy
{quote} This is what we call correct analysis with stupid patience. {image}
Those who say it cannot be done should not interrupt those who are doing it
  • #66,848
  • Oct 1, 2013 4:17am Oct 1, 2013 4:17am
Quoting Boy Wonder
{quote} I thought you were long?
I am long. Have 80% of my positions long with 20% short.
I'm holding all my current longs until 9650 min with end target of 1.03 and tp's along the way. That has been and still is my mid-long term view of where this pair is going. I'm not glued to my positions or my strategy. Something as big as the funding issue needs to be taken into account. A resolution could see this pair take a brief dive and ideally I want be able to cash in my shorts, add to my longs and look at cashing in again on my longs.
  • #66,849
  • Oct 1, 2013 4:22am Oct 1, 2013 4:22am
Quoting SpartanTrade
{quote} I am long. Have 80% of my positions long with 20% short. I'm holding all my current longs until 9650 min with end target of 1.03 and tp's along the way. That has been and still is my mid-long term view of where this pair is going. I'm not glued to my positions or my strategy. Something as big as the funding issue needs to be taken into account. A resolution could see this pair take a brief dive and ideally I want be able to cash in my shorts, add to my longs and look at cashing in again on my longs.
Whilst I certainly agree the Aussie has a very strong potential of reaching 96xx zone, I fail to see the logic (or your analysis... apologies if you posted it earlier) supporting a rebound to 1.03

Care to elaborate? I am genuinely interested in your view here.
Those who say it cannot be done should not interrupt those who are doing it
  • #66,850
  • Oct 1, 2013 4:25am Oct 1, 2013 4:25am
gone vertical. its in the stratosphere. no pullbacks, its headed for 95 zone.
  • #66,851
  • Oct 1, 2013 4:28am Oct 1, 2013 4:28am
Quoting PipTrapper
{quote} Whilst I certainly agree the Aussie has a very strong potential of reaching 96xx zone, I fail to see the logic (or your analysis... apologies if you posted it earlier) supporting a rebound to 1.03 Care to elaborate? I am genuinely interested in your view here.
Hi Piptrapper,

Heres my logic from previous post
Cheers


Hi thewriter30,


Well As much as I am confident that Aussie is headed higher, anything can happen. People laughed at my 0.98, parity and then 1.03 scenario months ago but look where we are. Not too far off. At the end of the day the market is the only thing that's always right. Here is what I previously posted on why I think we are headed higher. I could very well be wrong and I'm the first to acknowledge that. Here it is anyways






I really don't understand why so many think that the aussie fundamentally belongs where it is let alone sub 88-85.


1. China is not collapsing in terms of its manufacturing

2. Resources boom has not ended and will not end in the next decade

3. Everyone has been bearish already pricing in lower rates/poor growth etc for quite some time

4. Acceptable GDP this year will bounce to somewhere around 4.5-5% next year

5. New gov't = less taxation = increased investment = increased employment etc etc


Fundamentally as much as it hurts our export markets AUD DOES NOT belong below parity. Exporters should have hedged and continue to hedge to protect themselves. IMO, we are headed to parity and beyond not the sub 85's people are talking about.

  • #66,852
  • Oct 1, 2013 4:35am Oct 1, 2013 4:35am
Quoting KickAss
{quote} promising for long?
yup already in nice profit so far hope it continues
  • #66,853
  • Oct 1, 2013 4:57am Oct 1, 2013 4:57am
Quoting SpartanTrade
{quote} I am long. Have 80% of my positions long with 20% short. I'm holding all my current longs until 9650 min with end target of 1.03 and tp's along the way. That has been and still is my mid-long term view of where this pair is going. I'm not glued to my positions or my strategy. Something as big as the funding issue needs to be taken into account. A resolution could see this pair take a brief dive and ideally I want be able to cash in my shorts, add to my longs and look at cashing in again on my longs.
Yep fair enough.
I have no clue what I'm talking about.
  • #66,854
  • Oct 1, 2013 4:58am Oct 1, 2013 4:58am
Quoting SpartanTrade
{quote} Hi Piptrapper, Heres my logic from previous post Cheers Hi thewriter30, Well As much as I am confident that Aussie is headed higher, anything can happen. People laughed at my 0.98, parity and then 1.03 scenario months ago but look where we are. Not too far off. At the end of the day the market is the only thing that's always right. Here is what I previously posted on why I think we are headed higher. I could very well be wrong and I'm the first to acknowledge that. Here it is anyways I really...
You're an Aussie then mate?
I have no clue what I'm talking about.
  • #66,855
  • Oct 1, 2013 5:01am Oct 1, 2013 5:01am
Quoting Boy Wonder
{quote} You're an Aussie then mate?
sure am
  • #66,856
  • Oct 1, 2013 5:20am Oct 1, 2013 5:20am
Quoting SpartanTrade
{quote} sure am
OK then.
I have no clue what I'm talking about.
  • #66,857
  • Oct 1, 2013 5:31am Oct 1, 2013 5:31am
up and up it goes... without me.. =/
  • #66,858
  • Oct 1, 2013 5:51am Oct 1, 2013 5:51am
Quoting 5percent
{quote} Last week support level 0.9338/40. main level of test for support turns resistance, clear will move up higher. 0.9320/25 may provide some temporary resistance, europe/us session support area. Lower hi -> 0.9368 and 0.9375, then 0.9402. Crossing 2 level of lower hi, primarily above 0.9402 will put aud on bullish view higher of pullback completion. Anything above 0.9402 will validate that previous resistance zone of 0.9280-0.9320 may channel into a resistance turns support channel to re-test 0.95 or higher. Today is monthly close, pivot for...
Quoting 5percent
{quote} based on. i know many people may disagree with me, but i trade what i see. and react accordingly. losses are part of the game, there's bull and bear opportunities. the daily close, weekly and monthly close will decide. i have further buy stops above 0.9402 also, to catch pull back completion and after it destroy 2 levels lower hi for retracement higher. {image}

as mentioned. being fair to price = opportunities, likely to be in the flow of trend. which also gives ample chance to use trading management.
  • #66,859
  • Oct 1, 2013 7:12am Oct 1, 2013 7:12am
Looks like a good oppportunity to get short for ~50 pips. Watching USD news in 2 hours (ISM manufacturing) for a catalyst...
  • #66,860
  • Oct 1, 2013 7:28am Oct 1, 2013 7:28am
A 50% retracement of today's move is the least to be expected.........http://www.dailyfx.com/forex_forum/i...ilies/cool.png
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