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AUD/USD

  • #75,601
  • Apr 1, 2014 7:24am Apr 1, 2014 7:24am
Target of this move is at 0.9140 , take it or leave it.
  • #75,602
  • Apr 1, 2014 7:34am Apr 1, 2014 7:34am
Def could be the start of a bounce but at same time could be the start of a bigger sell off on daily chart. NZD starting to weaken as well.

GBP looks really weak too. Only a matter of time till the EUR joins in.
  • #75,603
  • Apr 1, 2014 7:43am Apr 1, 2014 7:43am
Quoting Ck87
Def could be the start of a bounce but at same time could be the start of a bigger sell off on daily chart. NZD starting to weaken as well. GBP looks really weak too. Only a matter of time till the EUR joins in.
Perhaps it's time for USD and JPY strengthen now.
  • #75,604
  • Apr 1, 2014 7:50am Apr 1, 2014 7:50am
Quoting Ck87
Def could be the start of a bounce but at same time could be the start of a bigger sell off on daily chart. NZD starting to weaken as well. GBP looks really weak too. Only a matter of time till the EUR joins in.
It seems there are no new sellers atm. To me, it seems trends have stalled, approaching 'violated' - but definitely not yet. The trend to me, seems intact. The market conditions just seem such that many are waiting till a more opportune time.
  • #75,605
  • Apr 1, 2014 7:50am Apr 1, 2014 7:50am
A bounced should be expected to retest 9300, but it seems like good resistance for now. I have been burned a lot with AUDUSD, like whackdiddy mentioned the divergences can last longer than an account.
  • #75,606
  • Apr 1, 2014 8:12am Apr 1, 2014 8:12am
Quoting rck66
A bounced should be expected to retest 9300, but it seems like good resistance for now. I have been burned a lot with AUDUSD, like whackdiddy mentioned the divergences can last longer than an account.
Yeah. I reckon (generally speaking) it's not a good time to be trading the markets. Price action is weak and unpredictable, and divergences rife. I feel that the markets will pick up, and for that reason am generally holding off till they do. That's not to say that opportunities don't abound - but only if you seize them swiftly.
  • #75,607
  • Apr 1, 2014 8:49am Apr 1, 2014 8:49am
Quoting KiwiOz
{quote} A double top has formed at the 0.93 target & now a retrace to 0.9170 is in motion. 0.9135 is possible. {image}
Eur/Aud...Best to go long before going short.
Attached Image(s) (click to enlarge)
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Money Makes Money
  • #75,608
  • Apr 1, 2014 9:57am Apr 1, 2014 9:57am
Quoting Didgeridoo
{quote} Yeah. I reckon (generally speaking) it's not a good time to be trading the markets. Price action is weak and unpredictable, and divergences rife. I feel that the markets will pick up, and for that reason am generally holding off till they do. That's not to say that opportunities don't abound - but only if you seize them swiftly.
totally agreed w you
  • #75,609
  • Apr 1, 2014 10:05am Apr 1, 2014 10:05am
Quoting Care forex
{quote} totally agreed w you
Cheers.
  • #75,610
  • Apr 1, 2014 11:03am Apr 1, 2014 11:03am
Quoting Didgeridoo
{quote} Yeah. I reckon (generally speaking) it's not a good time to be trading the markets. Price action is weak and unpredictable, and divergences rife. I feel that the markets will pick up, and for that reason am generally holding off till they do. That's not to say that opportunities don't abound - but only if you seize them swiftly.
Price action week? unpredictable?

April is one of the most volatile months for FX and AUD often rallies (along with NZD) into May. If AUD doesn't pick up within a couple days and breaks lows, I expect mid 80's by end of May.

This is a good time to trade, you just can't be lazy.
  • #75,611
  • Apr 1, 2014 11:40am Apr 1, 2014 11:40am
Quoting slow-trader
{quote} Price action week? unpredictable? April is one of the most volatile months for FX and AUD often rallies (along with NZD) into May. If AUD doesn't pick up within a couple days and breaks lows, I expect mid 80's by end of May. This is a good time to trade, you just can't be lazy.
You astutely raise very good points, Slow-Trader.

I'm just being cautious - admittedly, over-cautious given the nature of fx trading. But, right now (as in, what was the latter part of the UK session and US session) I see nothing I'm comfortable trading on - technically or fundamentally. Perhaps a coward earlier too, by not actioning a BUY signal in EUR/AUD - when AUD/USD was so close to resistance. But will be hunting the rest of the week.
  • #75,612
  • Apr 1, 2014 11:53am Apr 1, 2014 11:53am
Quoting Didgeridoo
{quote} You astutely raise very good points, Slow-Trader. I'm just being cautious - admittedly, over-cautious given the nature of fx trading. But, right now (as in, what was the latter part of the UK session and US session) I see nothing I'm comfortable trading on - technically or fundamentally. Perhaps a coward earlier too, by not actioning a BUY signal in EUR/AUD - when AUD/USD was so close to resistance. But will be hunting the rest of the week.
Really? I got a good signal to sell NZD early this morning (opening London)! in at .8685.

This could have legs ... before upward movement continues ...

But NZD hasn't liked .868x and above the past few days. Short for lower .85xx's (maybe more)
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  • #75,613
  • Apr 1, 2014 11:57am Apr 1, 2014 11:57am
Quoting slow-trader
{quote} Really? I got a good signal to sell NZD early this morning (opening London)! in at .8685. This could have legs ... before upward movement continues ... But NZD hasn't liked .868x and above the past few days. Short for lower .85xx's (maybe more) {image}
Yeah, I should have sold AUD against EUR, for 50 pips or so - bang at 6pm here in Australia.
  • #75,614
  • Apr 1, 2014 11:57am Apr 1, 2014 11:57am
I'll tell ya what's good. Beef Jerky. Man, that's good. Teriyaki, Hickory Smoke, Spicy. Home made, the best! Australians make some good beef jerky!
  • #75,615
  • Apr 1, 2014 12:06pm Apr 1, 2014 12:06pm
Quoting TheTopBloke
I'll tell ya what's good. Beef Jerky. Man, that's good. Teriyaki, Hickory Smoke, Spicy. Home made, the best! Australians make some good beef jerky!
Salivating.

To be honest, I had no idea. I thought we were only good for shrimps and chips. Gotta stop watching the bloody charts and expand my horizons.
  • #75,616
  • Apr 1, 2014 2:40pm Apr 1, 2014 2:40pm
Selling AUD against the CAD is giving me green pipperoonies.
The coincidental success is more dangerous than the expected failure
  • #75,617
  • Apr 1, 2014 2:45pm Apr 1, 2014 2:45pm
Quoting KiwiOz
{quote} A double top has formed at the 0.93 target & now a retrace to 0.9170 is in motion. 0.9135 is possible. {image}
Pure price action analysis, good one!! Am exactly on the same boat, waiting to reach 9150 this week
Winning in forex comes with good habits.
  • #75,618
  • Apr 1, 2014 6:30pm Apr 1, 2014 6:30pm
Quoting Didgeridoo
{quote} Salivating. To be honest, I had no idea. I thought we were only good for shrimps and chips. Gotta stop watching the bloody charts and expand my horizons.
I was recently traveling through a dumpy little airport in 'murica where to my surprise I found an Outback Steakhouse. Sure, the neon Foster's sign was a dead giveaway that this place was not worth my time. But then I saw a Tooheys sign, and thought that odd. I moved around to the other side of the mall (why they put malls in airports these days I don't understand) and I saw a XXXX sign. I was able to ask an employee, who was on break, eating at the nearby Burger King (oh the irony, that's Hungry Jacks to you blokes), and he confirmed they did not in fact sell XXXX. So my perfect record of having never entered the corporate establishment goes unblemished. For if they had in fact served XXXX, I would have had to drink fond memories of a simpler time where all that mattered was drinking and fishing with the banana benders. Oh happy times, happy times. Outback Steakhouse is to Australia what Olive Garden is to Italy. Just pure American corporate shite. Keep 'em fat and happy in the pasture. They'll never know the difference, and never need to travel past the fence to experience the difference.

Anyhow, what were we going on about? Someone's attempt to make ten pips either way today? Resistance or futility of some such?
  • #75,619
  • Apr 1, 2014 7:00pm Apr 1, 2014 7:00pm
Quoting Ken A
Looks like no predictions before the facts {image}
Ok, just for fun. Disappointing building approval numbers, bringing AUD lower, and from the perspective of the month of April, a small correction in a bull run.
  • #75,620
  • Apr 1, 2014 7:25pm Apr 1, 2014 7:25pm
Quoting archun
{quote} Pure price action analysis, good one!! Am exactly on the same boat, waiting to reach 9150 this week
Be careful, it's not actually a double top. It was a higher high yesterday. Just saying.
The trend is not your friend, it's your master.
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