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AUD/USD

  • #70,421
  • Dec 10, 2013 6:08am Dec 10, 2013 6:08am
Quoting Danny Maina
With the multiple support touch, a reversal seems likely possible to the upside. Convincing chart patterns above 0.9150 could provide excellent opportunities for some long trade setups. Neutral at the moment. {image} Keeping fingers crossed here
Agree, we are still not in bull's territory yet. We are still resisted by .9130, before talking about .9150. To be on the safe side, will only look at long setup if .9150 is breached.
The true fact is market doesn't care, risk mgt is important.
  • #70,422
  • Dec 10, 2013 6:13am Dec 10, 2013 6:13am
0.9141 major resistance level
  • #70,423
  • Dec 10, 2013 7:12am Dec 10, 2013 7:12am
0.9130 breached
  • #70,424
  • Dec 10, 2013 8:02am Dec 10, 2013 8:02am
Quoting zew
0.9130 breached
Next Resistance .915
The true fact is market doesn't care, risk mgt is important.
  • #70,425
  • Dec 10, 2013 8:25am Dec 10, 2013 8:25am
gold , NZD,CAD AUD rebounce.
  • #70,426
  • Dec 10, 2013 9:10am Dec 10, 2013 9:10am
Dear All,

Next is 0.9168
Let we see if we able reach that today then 0.9202
  • #70,427
  • Dec 10, 2013 9:27am Dec 10, 2013 9:27am
Quoting atria
Dear All, Next is 0.9168 Let we see if we able reach that today then 0.9202
If we reach .9200 then that changes the long term trend of the AUD. I don't think that is going to happen. 0.9174 is my theroretical max for this move up. Now, if I can just not get stopped out by half a pip again.
  • #70,428
  • Dec 10, 2013 12:22pm Dec 10, 2013 12:22pm
AUDUSDDaily
Attached Image (click to enlarge)
Click to Enlarge Name: audusddaily.png Size: 56 KB
THERE IS NO SYSTEM
  • #70,429
  • Dec 10, 2013 12:45pm Dec 10, 2013 12:45pm
smart money is leaving no upside before retail sale news
  • #70,430
  • Dec 10, 2013 8:11pm Dec 10, 2013 8:11pm
a good point for long entry forming now
  • #70,431
  • Dec 10, 2013 8:48pm Dec 10, 2013 8:48pm
Long at market.
The coincidental success is more dangerous than the expected failure
  • #70,432
  • Dec 10, 2013 8:49pm Dec 10, 2013 8:49pm
Quoting Ulterior
a good point for long entry forming now
This chart is ugly looking. Don't be surprised to get bruised and battered long Aussie right now...
Trade what you see, not what you think!
  • #70,433
  • Dec 10, 2013 9:58pm Dec 10, 2013 9:58pm
if that last pin doesnt hold, not a good sign for longing it, will watch it evolve
  • #70,434
  • Dec 10, 2013 11:50pm Dec 10, 2013 11:50pm
Quoting tony95
{quote} If we reach .9200 then that changes the long term trend of the AUD. I don't think that is going to happen. 0.9174 is my theroretical max for this move up. Now, if I can just not get stopped out by half a pip again.
I'm confused. You talk about a long term trend being changed if we reach .9200 but also talk about being stopped out by half a pip. Looking at a daily chart I see the fall from .9750 to .9000 and see large resistance at .92 (seen better on 4 or 5 hr chart). I fail to see how a 200 pip pull back invalitates the 750 pip fall. Others could argue from a weekly or monthly chart that long term trend is up but again price reaching .92 doesn't change those trends.

What do you call long term? If trading long term than I woulnd't have thought your stops would be so small as to get stopped by half a pip.

Personally I see this as a down trend and will add shorts as price goes up to at least .93 (so far I have positions at .91 and .9150 and will be targeting .90 or below.

There was no immediate reaction to news that Holden will cease manufacturing in Australia during 2017 and maybe the effect won't register for several years but make no mistake when up to 50,000 jobs (http://www.theaustralian.com.au/nati...1226780194336#) could be affected (that would be directly and in support industries) this is bad news for employment in Australia, which will eventually weaken the AUD and ironically provide a better environment for manufacturing in Australia.
Hope for the best, prepare for the worst.
  • #70,435
  • Dec 11, 2013 4:44am Dec 11, 2013 4:44am
As with Gold, there may or may not be another leg up for this reatracement. If so I expect to see 0.9235.
Below 0.9075 & a new low can be expected next week.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: audusdh4.png Size: 46 KB
Click to Enlarge Name: audusdweekly.png Size: 44 KB
Money Makes Money
  • #70,436
  • Dec 11, 2013 5:58am Dec 11, 2013 5:58am
I'm long on EURAUD 3 reasons:

1) Too many traders shorted.

2) AUD is still weak

3) My own Pattern is playing on Daily.
$10K Live Account... 3 months investor testing!
  • #70,437
  • Dec 11, 2013 6:36am Dec 11, 2013 6:36am
Where do you see "there are too many traders shorted"?
  • #70,438
  • Dec 11, 2013 7:04am Dec 11, 2013 7:04am
waiting employment news,, nothing much to do....
since the forecast is quite different than the previous, we can expect good movement there.
  • #70,439
  • Dec 11, 2013 7:06am Dec 11, 2013 7:06am
Quoting mladen111
Where do you see "there are too many traders shorted"?
You have to "Quote me" if you want me to answer you.

Here we can check:
http://www.myfxbook.com/community/outlook
http://fxtrade.oanda.co.uk/lang/fr/a...osition-ratios
$10K Live Account... 3 months investor testing!
  • #70,440
  • Dec 11, 2013 7:16am Dec 11, 2013 7:16am
Looks like we are still resisted by .9170 in asian session today and we are slipping down in thin volume.
The true fact is market doesn't care, risk mgt is important.
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