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AUD/USD

  • #91,681
  • Aug 28, 2015 5:27pm Aug 28, 2015 5:27pm
Quoting iwillwait
I truly believe the Australians will do what the New Zeals did to their currency and a cut is on its way
If aud cuts rates the currency would go down I assume correct? I hate news always trys to get my pips, sometimes it helps. 50/50 gamble.
  • #91,682
  • Aug 28, 2015 5:59pm Aug 28, 2015 5:59pm
my prediction is we will get down to .60 by December
  • #91,683
  • Aug 28, 2015 7:17pm Aug 28, 2015 7:17pm
Quoting iwillwait
my prediction is we will get down to .60 by December
Anything is possible but that seems a bit extreme. The Ozzie has dropped about 25% in the past 12 months ( 50 basis points in rate cuts).

IMO, the Ozzie is fairly valued at the moment and it would be hard to imagine another 15% drop in value in the next 4 months! If the RBA cuts rates before years end AND the Fed raises rates, it is conceivable that the Ozzie could hit 60 but I highly doubt it. I wouldn't be surprised to see both interest rates remain unchanged for the remainder of the year. Of course all this is just conjecture

Commodity prices have been tumbling down throughout the year, Chinese economic contraction, apocalyptic stock market correction, and yet the Ozzie has yet to touch 70. As it stands, the Ozzie is still a decent carry trade and may be an attractive long term option for bigger accounts

Have a great weekend and may the pips be with you
Pride always comes before destruction.... -Proverbs 16:18
  • #91,684
  • Aug 28, 2015 8:17pm Aug 28, 2015 8:17pm
When we are in a trade, just gotta ensure we got a Plan B in place. As we can see, it was a pin bar weekly close with .70 as a support. What i see is a correction is possible next week.

4h chart, many bullish pin bars. Telltale signs that a correction is underway. How high can it go is the question before we resume the bearish trend.
  • #91,685
  • Aug 29, 2015 10:18am Aug 29, 2015 10:18am
audusd weekly wedge

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  • #91,686
  • Aug 29, 2015 10:22am Aug 29, 2015 10:22am
i will have to play this tight range carefully.

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  • #91,687
  • Aug 29, 2015 1:06pm Aug 29, 2015 1:06pm
I doubt China is finished with manipulating the market round two next week?
  • #91,688
  • Aug 30, 2015 6:13pm Aug 30, 2015 6:13pm
well boys what does today look like to you? Up, down or sideways?
  • #91,689
  • Aug 30, 2015 6:16pm Aug 30, 2015 6:16pm
your prediction iwillwait really concerns me, I'm heading to get some money exchanged from Aud to usd for my November holiday today, as I feel it'll probably be lower than it is now then... Not the best time to go on a holiday to the states from Australia
  • #91,690
  • Aug 30, 2015 6:21pm Aug 30, 2015 6:21pm
will this support last?
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  • #91,691
  • Aug 30, 2015 6:42pm Aug 30, 2015 6:42pm
looks more to me that it is falling.
  • #91,692
  • Aug 30, 2015 9:27pm Aug 30, 2015 9:27pm
Quoting bluetoss
looks more to me that it is falling.
Yup, the downflow in the monthly chart which I posted still intact.

AUD and Chinese news tomorrow will be the catalyst to resume the downtrend. Lets get ready.

Once support at .71, next support will be at .70 levels.
The true fact is market doesn't care, risk mgt is important.
  • #91,693
  • Aug 30, 2015 9:53pm Aug 30, 2015 9:53pm
Bring it! Making a killing of the scalps this session

Quoting Ssm
{quote} Yup, the downflow in the monthly chart which I posted still intact. AUD and Chinese news tomorrow will be the catalyst to resume the downtrend. Lets get ready. Once support at .71, next support will be at .70 levels.
  • #91,694
  • Aug 30, 2015 10:06pm Aug 30, 2015 10:06pm
man. It's so quiet today I'm trading with the crickets
  • #91,695
  • Aug 30, 2015 10:11pm Aug 30, 2015 10:11pm
iwillwait , just wait untill ppl wake up in europe and start seeing the same scenario they saw last monday for the panic to install and you'll get ur volatility lol
  • #91,696
  • Aug 30, 2015 10:17pm Aug 30, 2015 10:17pm
Good Morning to all. New trading week, last day of Aug.

Monthly trendline dated from as far back as 2001 still being respected. For me personally, i will only short after it breaks decisively below the trendline. Otherwise, if the trendline is tested three times and it rebounds, then an impending rally will take place (a huge one).

Just giving my take on the current PA i see on my chart. Different opinions and perspectives are most welcome.

Good trading week to all!


To add on: On the daily chart, PA been making higher lows as well.
I will agree this pair is fundamentally and technically bearish, oh well, let the chart tells us the answer because the market is the boss. Who else pays us well, right?
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  • #91,697
  • Aug 31, 2015 1:52am Aug 31, 2015 1:52am
Quoting SkyrEk
Good Morning to all. New trading week, last day of Aug. Monthly trendline dated from as far back as 2001 still being respected. For me personally, i will only short after it breaks decisively below the trendline. Otherwise, if the trendline is tested three times and it rebounds, then an impending rally will take place (a huge one). Just giving my take on the current PA i see on my chart. Different opinions and perspectives are most welcome. Good trading week to all! To add on: On the daily chart, PA been making higher lows as well. I will agree...
i had the same opinion, but towards the weekend close my opinion changed

http://www.forexfactory.com/showthre...06#post8462406

and

http://www.forexfactory.com/showthre...79#post8462479
  • #91,698
  • Edited 2:11am Aug 31, 2015 1:56am | Edited 2:11am
Quoting PatienceFx
cable just gave a breakout it will give good returns, to my tiny account {image}
closed 5436 , my tiny 8 usd account crossed 60 usd first with audusd trades now a single gbpusd trade.

** correction my close was 5429
  • #91,699
  • Aug 31, 2015 2:01am Aug 31, 2015 2:01am
Quoting PatienceFx
{quote} closed 5436 , my tiny 8 usd account crossed 60 usd first with audusd trades now a single gbpusd trade.
not expecting much here till that high goes, so no use holding longs

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audusd is in a weekly wedge, so anything can happen here

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  • #91,700
  • Aug 31, 2015 2:13am Aug 31, 2015 2:13am
firstly correction my gbpusd trade close was 5429

this daily wedge on audusd gives ideas on where fresh shorts can be thought of , h1 is in a triangle trend

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