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AUD/USD

  • #90,621
  • Jun 5, 2015 9:26am Jun 5, 2015 9:26am
Quoting Vorex
{quote} It will get quickly bought if it reaches 0.7600, me included, I've already it bought it at 0.7633, I'm sure it will go up if not today, next week.
It got quickly bought when it reached 0.7600 and went up to 07650, a good 50 pips profit!
  • #90,622
  • Jun 5, 2015 10:52am Jun 5, 2015 10:52am
Quoting Vorex
{quote} It got quickly bought when it reached 0.7600 and went up to 07650, a good 50 pips profit!
Hi vorex and mates, i am looking to sell aud next week..now we have weekly power play candle for short...also will be shorting audnzd which i think is the best trade for next week..Have a nice weekend all and lastly i am currently awaiting the result of my usoil short trade outcome...good luck!
  • #90,623
  • Jun 5, 2015 7:26pm Jun 5, 2015 7:26pm
Quoting acit
{quote} Hi vorex and mates, i am looking to sell aud next week..now we have weekly power play candle for short...also will be shorting audnzd which i think is the best trade for next week..Have a nice weekend all and lastly i am currently awaiting the result of my usoil short trade outcome...good luck!
I don't know but there is strong buyers at 0.7600, even at 0.7650 it will be bought once Australian market open on Monday, I will hold my longs through the week and see what happens, Good luck.

Edit: Monday is a public holiday in Australia.
  • #90,624
  • Jun 6, 2015 3:37am Jun 6, 2015 3:37am
quite a busy week for aussie data releases, have to probably wait till tuesday. but there is china data release on monday, i suppose that will trigger higher or lower. besides, no big data for US next week, i think there is a high chance that people will sell and take profit, so is 50-50 chance.

Quoting Vorex
{quote} I don't know but there is strong buyers at 0.7600, even at 0.7650 it will be bought once Australian market open on Monday, I will hold my longs through the week and see what happens, Good luck. Edit: Monday is a public holiday in Australia.
  • #90,625
  • Jun 6, 2015 5:19am Jun 6, 2015 5:19am
Ok, this is a bit of a rant. I don't think I am intelligent or in any means a seasoned trader. I will start by saying my dad is a trader and has never introduced me to the business until now. I always wondered how he made his money (retired at 25)?? I have been trading aud/usd futures for 4 months now with my own trading plan I designed with him. I started with 3400usd not a big risk for me as I work for a mining company as well. My account is now 36550. My position vary from 10 minutes to 1 day (I am a scalper). Does anyone scalp like me? I am on this forum because I think I have beginners luck or my trading plan is just well thought out. Is there other people like me and my dad? I am hooked on trading aud/usd very forgiving contract. By the way I am short at 7705 to 7555 at the moment 3 contracts
  • #90,626
  • Jun 6, 2015 6:24am Jun 6, 2015 6:24am
Despite the Aussie bearishness, other currencies suggest that the dollar correction that began around mid April may not yet be over. Those signs are the EUR strength, the USD/CAD's position (got stopped out of a long last week and it looks like now it may have formed a reversal pattern on the daily), the broader picture of the U/CAD which looks to me like it may begin a second major leg down. If this were the case, then AUD/USD should be about to begin a major leg up.

Usually you have at least 2 legs up following a breakout from a major trendline. It is difficult for me to see two meaningful legs up for the AUD after its bullish breakout in mid-April. To me, it seems clearer to suggest that mid-April to mid-May was only the 1st leg up, and now we are in a correction which is testing the breakout level, after which should follow the 2nd leg up.

Next week could be a bullish reversal week for the AUD, and buying at the open may prove to be the best option in hindsight, but I will wait to see further price action before entering. A risky long at the open, with a SL just 20pips below the low of last week might prove a huge winner, as last week may reveal itself to be a bear trap! But with Australia offline on Monday, I will wait for the bears or bulls to show more of their hand next week, before entering
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  • #90,627
  • Jun 6, 2015 9:18am Jun 6, 2015 9:18am
Price broke the 0.7670 key support level which was essential for an upside move before the NFP data release . Now with that support broken,there is a change in polarity and therefore, I'm bearish from here.
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  • #90,628
  • Jun 6, 2015 9:57pm Jun 6, 2015 9:57pm
We are currently on a major support line which has defended the pair once in march, twice in april and once this month which was the 50 pip bounce mentioned by someone above. The daily chart also has formed a head and shoulders of which we are right on the neckline. In addition to this, the weekly chart has just formed a double bottom, again on the proven support line. Also on the monthly chart, the drop from 95 is over extended. I wouldn't be surprised to see this pair completely engulf last weeks losses and take out last months open of circa 79. The question is at what point will it bounce. I know the pair is in a downtrend, but who would be selling the aud at this major support line ? The RSI is also oversold on major time frames and showing signs of rising above 30. Its going to take some catastrophic news next week to push this pair any lower and i don't see that happening. In my view the aud for all the above reasons can only be a buy, its just a question of when to get in.
  • #90,629
  • Jun 7, 2015 4:35am Jun 7, 2015 4:35am
Quoting GrowthHack
{quote} still that 7860 not happened i too added buy after aud GDP positive report but i lost 150 pips i noticed that you deleted your post when you entered 2nd buy position
Mate, im totally lost..?

My first post you quoted saying did i mean that I agree .7760?? You must read and use your little brain where it says 'IF' price gets there then I would be looking for short 'AGREEING' with 'Acit'... Not sure where I said it would definitely get to this price, and, not to mention I was actually talking to fellow trader of mine. But thank you for taking the time to read my posts, small chip on shoulder about something maybe?

The next post you quoted me where you seem to get quite ignorant, I'm not buying AUD/usd I had been selling EUR/aud most of last week where I could, so you may need to jog my memory where I posted my first buy on AUD/usd... and I probably removed a post that I had posted by mistake on wrong currency pair, and yes we are looking for longs soon based on monthly 200sma and monthly power for long.. but im not even going to get into this with you.

If you wanna see how we trade and the tools we use for technical analysis then pop over to 'About this course' thread, but by the sounds of it you already know everything and take pleasure on posting rubbish about other traders. Don't be a knob to someone whom you don't know, if anything I will take it as a positive that you are reading my posts, thankyou.

rexxen
  • #90,630
  • Edited 5:05am Jun 7, 2015 4:55am | Edited 5:05am
AUD probably support test next week
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  • #90,631
  • Jun 7, 2015 5:00am Jun 7, 2015 5:00am
btw AUD is following GBP its correlated pairs so better analyze GU or USD INDEX in this time before G7 open any major reports within two days
  • #90,632
  • Jun 7, 2015 5:32am Jun 7, 2015 5:32am
Quoting GrowthHack
btw AUD is following GBP its correlated pairs so better analyze GU or USD INDEX in this time before G7 open any major reports within two days
Wow thats really useful to know, I'll put that in file 13 along with the two other posts.

Cheers
GL
  • #90,633
  • Jun 7, 2015 9:44pm Jun 7, 2015 9:44pm
China trade balance was very good for the AUD, expecting the AUD to go up when Australian market open tomorrow.
I won't be surprised if it starts going up during London or NY session.
  • #90,634
  • Jun 7, 2015 9:46pm Jun 7, 2015 9:46pm
Quoting Vorex
China trade balance was very good for the AUD, expecting the AUD to go up when Australian market open tomorrow. I won't be surprised if it starts going up during London or NY session.
Are you sure ........
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  • #90,635
  • Jun 7, 2015 10:10pm Jun 7, 2015 10:10pm
imports are dropping alot.. its bad to aussie... i wonder why forex factory doesn't list the YoY imports and exports in the calendar
  • #90,636
  • Jun 7, 2015 10:42pm Jun 7, 2015 10:42pm
Quoting MJBhinder
Price broke the 0.7670 key support level which was essential for an upside move before the NFP data release . Now with that support broken,there is a change in polarity and therefore, I'm bearish from here. {image}
Looks like solid support around .76c. PA looking week recently; couple of cent drop if support fails
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  • #90,637
  • Jun 8, 2015 12:25am Jun 8, 2015 12:25am
Quoting Bmitchell
{quote} Cracked the 76 eggshell just now!!
Purely technical...
  • #90,638
  • Jun 8, 2015 12:49am Jun 8, 2015 12:49am
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Money moves the market, not an indicator.
  • #90,639
  • Jun 8, 2015 1:06am Jun 8, 2015 1:06am
Quoting ectoplasm
{quote} Looks like solid support around .76c. PA looking week recently; couple of cent drop if support fails {image}
Yes, I totally agree... if support fails price could be heading towards 0.7450 level where it could find temp support on the descending trend line.
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  • #90,640
  • Jun 8, 2015 2:25am Jun 8, 2015 2:25am
Quoting Vorex
China trade balance was very good for the AUD, expecting the AUD to go up when Australian market open tomorrow. I won't be surprised if it starts going up during London or NY session.
Made another 50 pips, Thank you Obama lol
Now waiting for it to go down to 0.7620 or lower to buy it again.
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