AUD/USD

May 10 2015 at 1:11 PM
Recession? Australia is on the threshold of its greatest-ever era, says Joe Hockey
http://www.afr.com/news/policy/budge...0150510-ggy7of

looks difficult Monday and Tuesday but just using price action.. currently I am long off 7889... targeting 7950 but will let pric action decide if there is problems sooner.

Also short USD CAD at 121.30 but it looks like a mess at the beginning where there will be lots of scalps and profit takes... needs too get through the mess to really drop and if that happens AUD prob will go up based on USD weakness but on the other hand if the scalps and mess prove solid and hold then possible it breaks out then AUD will fall...

Let price happen first is my motto... let the signals develop at support or resistance then sell or buy.. that's usually the easiest thing on a Monday

Rate cuts not boosting economy, survey warns
Updated about 3 hours agoMon 11 May 2015, 11:18am
A closely watched survey out today is casting doubt on whether recent interest rate cuts are helping to boost the economy. The National Australia Bank's monthly business says confidence remains unchanged and that any sustained recovery is reliance on tomorrow's federal budget.
http://www.abc.net.au/news/2015-05-1...-warns/6460604

A also looking 7954/7948 as my long target and short but... it will definite short.. question is is it the final hurdle to take us back too 7626 or is it a step back too 7904 then push higher!!!

If you trade price action then its all the same

NZD has been falling sharply. That is a big minus for AUD The correlation of AUD and NZD is strong. EUR has been selling off greatly. That is also a big minus for AUD as it indicates risk aversion sentiment has been growing in the market.

Australian equity indices wobbled today.
https://au.finance.yahoo.com/q?s=%5EAXJO

BRUSSELS — The International Monetary Fund is working with national authorities in southeastern Europe on contingency plans for a Greek default, a senior fund official said — a rare public admission that regulators are preparing for the potential failure to agree on continued aid for Athens.

looking for gartely completion to long AU @ 0.7730/20.

I'm not short for the time being, but i might be taking quick pips shorting on the way down to my desired price

AUDUSD resuming downtrend.

how is going to resume downtrend if they are talking bullish on budget, all nice things, optimism...?

downtrend do think so .... it almost breaking the resistence

Bounced off lower now from 61.82% retracement. Expecting a swift decline after an ending diagonal wave c.

Is this your final sketch or you are going to make corrections on the go?

if breaks the 61.8fib-0.797 could be more up, alternately come back to 50fib- 0.7935-25 area
we'll see the 4h close ....

Looks like a break through 0.80 on the hourly will be the decider.

Weekly pivot @0.7989 met

Looking at probabilities. That's the best probability I can think of at the moment. And I use stop loss and minimal initial position size in trading.
I'm ready to change my mind for cutting losses.

It should reach .8040 in U.S. session.