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AUD/USD

  • #91,441
  • Aug 3, 2015 11:49pm Aug 3, 2015 11:49pm
I am already +65 pips now. Still waiting to hit target at 7365 as friday high. Any suggestion masters?
  • #91,442
  • Aug 3, 2015 11:51pm Aug 3, 2015 11:51pm
I'm still holding my longs until i see a potential reversal, with the latest RBA statement, i can only see the AUD soaring.

For those whom are still holding shorts, be like water, said Bruce Lee.
  • #91,443
  • Aug 3, 2015 11:57pm Aug 3, 2015 11:57pm
0.7345-50 is crucial resistance.. broke the resistance will be exactly to 0.7374 then 0.7383
  • #91,444
  • Aug 4, 2015 12:06am Aug 4, 2015 12:06am
UP Up n Away.
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSDH4.png Size: 39 KB
Combat crazy markets with crazy trading
  • #91,445
  • Aug 4, 2015 12:11am Aug 4, 2015 12:11am
Quoting dab
1hr & 15min RSI both showing overbought in a downtrend so I've gone short at 7325 and will target 7285.
Added shorts at 7340 and hoping to add more at 7355. Will see how high it goes before revising target.
Hope for the best, prepare for the worst.
  • #91,446
  • Aug 4, 2015 12:25am Aug 4, 2015 12:25am
Quoting Banabukari
I am already +65 pips now. Still waiting to hit target at 7365 as friday high. Any suggestion masters?
Been buying from the .7270 to 7280 area for a week , I am looking to take some profit at last weeks high .7365 area which is also this weeks R1 area , I will take some more profit at the quarterly S1 area if and when it gets there , which is also the weekly R2 area the rest of them I will hold for a bit and see where they end up. Would be nice to get a run up to the .7500 area over the next few days , time will tell , cheers
Attached Image (click to enlarge)
Click to Enlarge Name: AUD daily.jpg Size: 317 KB
  • #91,447
  • Edited 1:05am Aug 4, 2015 12:53am | Edited 1:05am
Quoting KZman
{quote} Shorted 7327. Let the fun begin....
Ouch. Should have waited 'til 7420
  • #91,448
  • Aug 4, 2015 1:06am Aug 4, 2015 1:06am
Quoting AVLtrader
{quote} Ouch
Sorry to see that, lol. This move is designed for people like that. Plus we have been going down for so long, and the momentem seems getting weak. The expected better data on thursday might get the pair higher, maybe then would be a better point to add shorts
  • #91,449
  • Aug 4, 2015 1:14am Aug 4, 2015 1:14am
AUDUSD taken minor tops and possibly longer term reversal.
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSDH4 4Aug15b.png Size: 49 KB
Elliott Wave for optimum entry, exit and risk management of trades
  • #91,450
  • Aug 4, 2015 2:08am Aug 4, 2015 2:08am
Even after the ride, AUDUSD becomes less likely to break 0.7390, needless to say the 0.7430, resistances while the downside move becomes limited by 0.7255-60 and the 0.7230 horizontal supports.
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSDDaily_TradeUpdate_04082015.png Size: 22 KB
  • #91,451
  • Aug 4, 2015 2:18am Aug 4, 2015 2:18am
Quoting Fx_Anil
Even after the ride, AUDUSD becomes less likely to break 0.7390, needless to say the 0.7430, resistances while the downside move becomes limited by 0.7255-60 and the 0.7230 horizontal supports. {image}
True. Those levels need to be broken. However the mighty USdollar has triple topped with a distinct HnS pattern & appears extremely fragile.
7650 is my first objective with my sights much higher to come.
The AU journey South has appeared quite week for the last 4 weeks, threatening a major reversal.
Combat crazy markets with crazy trading
  • #91,452
  • Aug 4, 2015 2:47am Aug 4, 2015 2:47am
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSD_H1.gif Size: 205 KB
  • #91,453
  • Aug 4, 2015 2:56am Aug 4, 2015 2:56am
Quoting CrazyOz
{quote} True. Those levels need to be broken. However the mighty USdollar has triple topped with a distinct HnS pattern & appears extremely fragile. 7650 is my first objective with my sights much higher to come. The AU journey South has appeared quite week for the last 4 weeks, threatening a major reversal.
Agree with you that the Aussie downturn is about to witness a pullback given it breaks mentioned resistances.
  • #91,454
  • Aug 4, 2015 3:00am Aug 4, 2015 3:00am
Quoting Fx_Anil
Even after the ride, AUDUSD becomes less likely to break 0.7390, needless to say the 0.7430, resistances while the downside move becomes limited by 0.7255-60 and the 0.7230 horizontal supports. {image}
Depends on which time frame one is talking about.
True, AUDUSD might not break above 0.7390 on an intra-day basis.
On a longer term, the limit is high.
Elliott Wave for optimum entry, exit and risk management of trades
  • #91,455
  • Aug 4, 2015 3:20am Aug 4, 2015 3:20am
who got caught in this morning's Aussie short? i got caught in NZD pair, i thought that AUD is too high risk and i short on NZD now both up.
  • #91,456
  • Aug 4, 2015 4:01am Aug 4, 2015 4:01am
Quoting skyhok
{quote} Depends on which time frame one is talking about. True, AUDUSD might not break above 0.7390 on an intra-day basis. On a longer term, the limit is high.
As always, great lines Skyhok And Agreed as well.
  • #91,457
  • Aug 4, 2015 4:43am Aug 4, 2015 4:43am
Can someone explain to me why they think AUDUSD will go up?

Im new to fx trading, but I know the situation of steel industry in china is bad.They may cut 20%-30% production in following year,and thats a huge impact on Australia.(since they are the main exporter of iron ore)


What's the fundamental of AUD up?
  • #91,458
  • Aug 4, 2015 5:56am Aug 4, 2015 5:56am
Quoting MustafaKhlid
Can someone explain to me why they think AUDUSD will go up? Im new to fx trading, but I know the situation of steel industry in china is bad.They may cut 20%-30% production in following year,and thats a huge impact on Australia.(since they are the main exporter of iron ore) What's the fundamental of AUD up?
resistanca and 161 fib
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSD_H4.gif Size: 223 KB
  • #91,459
  • Aug 4, 2015 5:59am Aug 4, 2015 5:59am
Quoting MustafaKhlid
Can someone explain to me why they think AUDUSD will go up? Im new to fx trading, but I know the situation of steel industry in china is bad.They may cut 20%-30% production in following year,and thats a huge impact on Australia.(since they are the main exporter of iron ore) What's the fundamental of AUD up?
there are 2 pair in AUD - USD

USD: The greenback remains the strongest currency in the longer term as the market currently expects the Fed to raise rates around December. This expectation was reaffirmed by the FOMC statement released on July 29 which provided no indication of a rate hike in September. The committee wants to see a further improvement in jobs and be reasonably confident about inflation tracking towards 2% before increasing the fed funds target rate for the first time in nearly a decade.

AUD: The Australian economy is in decent shape however the decline in commodities prices and waning demand from China has a negative impact on the economy. The RBA are open to further easing but have already cut twice this year which placed them in a wait-and-see mode. The currency is neutral to bearish and further direction may be gleaned from the rate statement on August 4.
It takes a lot for me to IGNORE you, but you can try.
  • #91,460
  • Aug 4, 2015 6:18am Aug 4, 2015 6:18am
Quoting MustafaKhlid
Can someone explain to me why they think AUDUSD will go up? Im new to fx trading, but I know the situation of steel industry in china is bad.They may cut 20%-30% production in following year,and thats a huge impact on Australia.(since they are the main exporter of iron ore) What's the fundamental of AUD up?
It's not so much AU strength as US $$ weakness. Bear in mind the US$$ weakness is only a retracement, as is the AU "strength" This is where technicals overide fundamentals.
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