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AUD/USD

  • #92,621
  • Oct 12, 2015 4:05am Oct 12, 2015 4:05am
strong resistance and wait for the signal to correction
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  • #92,622
  • Oct 12, 2015 6:45am Oct 12, 2015 6:45am
AUD bulls should be done for now!!!
  • #92,623
  • Oct 12, 2015 10:25am Oct 12, 2015 10:25am
Quoting ash1485
AUD bulls should be done for now!!!
i feel so too, since it can't seem to get through 7378. But the bulls are sure putting up a fight! the market just seems to keep floating back up to the top. noted that market is above the 100DMA now, although not making progress.

testing waters with a short at 7375, targeting a small profit at 7360.
  • #92,624
  • Oct 12, 2015 10:53am Oct 12, 2015 10:53am
data CNY
  • #92,625
  • Oct 12, 2015 11:17am Oct 12, 2015 11:17am
Long due correction gonna happen. Can't possibly go on 9 consecutive daily gains. Monitor PA before engaging shorts. It may or may not be the end for the bulls. Watch first and be patient.
  • #92,626
  • Oct 12, 2015 11:33am Oct 12, 2015 11:33am
Quoting SkyrEk
Long due correction gonna happen. Can't possibly go on 9 consecutive daily gains. Monitor PA before engaging shorts. It may or may not be the end for the bulls. Watch first and be patient.
short intact for that.
closing off if 7382 gets broken. tomorrow will be interesting.
  • #92,627
  • Oct 12, 2015 12:42pm Oct 12, 2015 12:42pm
I need it to go down, lol.
  • #92,628
  • Oct 12, 2015 12:56pm Oct 12, 2015 12:56pm
This shit happens during holidays.No liquidity hence even minor bulls can move the price.
By tomorrow we should see AU toppling down.
On greater scope AU will go lower. China slowing down Bear trend is not over.
In trading, you have to be defensive and aggressive at the same time
  • #92,629
  • Oct 12, 2015 1:02pm Oct 12, 2015 1:02pm
worth reading
RBA may need to cut rates in November, economists say
In trading, you have to be defensive and aggressive at the same time
  • #92,630
  • Oct 12, 2015 3:02pm Oct 12, 2015 3:02pm
Quoting chinfei
{quote} Can you explain more about your statement "500-600 pips left"?
Bull drive still seems to be on.
Good idea to go short off the breakout retest I think (for longer term swing trade)
A good target would be 0.63
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Come with me if you want to live....
  • #92,631
  • Oct 12, 2015 4:43pm Oct 12, 2015 4:43pm
Quoting Davit
worth reading RBA may need to cut rates in November, economists say
Check the date on that, it's October 4. Things have changed since then. The chance of RBA rate cut has been lowered
  • #92,632
  • Oct 12, 2015 5:13pm Oct 12, 2015 5:13pm
Quoting Davit
worth reading RBA may need to cut rates in November, economists say
Agree, is worth a read, especially noting the points on composition of job growth. Personally I think this week's Aussie employment data will be a big factor in whether or not they look at cutting rates next month.
Hope for the best, prepare for the worst.
  • #92,633
  • Oct 12, 2015 5:38pm Oct 12, 2015 5:38pm
short .73568 target 23.6 retrace t1, 38.2 t2
  • #92,634
  • Oct 12, 2015 6:29pm Oct 12, 2015 6:29pm
Quoting renski
{quote} Check the date on that, it's October 4. Things have changed since then. The chance of RBA rate cut has been lowered
I did check the date however everything in the article is still valid.Overall fundamentals have not changed.
There is obvious global slowing down cycle we are going through and with this outset countries are looking to lower their currencies to be competitive.Only country talking about rate hike is US and that's premature, already numbers are printing red on US economy.
With China slowing and Japan will start new stimuli soon things will be looking down overall.
Will the Aussie drop this week? Perhaps not but it will be lot lower by the end of the year.
In trading, you have to be defensive and aggressive at the same time
  • #92,635
  • Oct 12, 2015 6:31pm Oct 12, 2015 6:31pm
Quoting dab
{quote} Agree, is worth a read, especially noting the points on composition of job growth. Personally I think this week's Aussie employment data will be a big factor in whether or not they look at cutting rates next month.
in addition to Iron ore prices.
In trading, you have to be defensive and aggressive at the same time
  • #92,636
  • Oct 12, 2015 7:04pm Oct 12, 2015 7:04pm
The AUD/USD may continue going higher, the uptrend is still in place, but it may find some resistance at the 0.7400 level. A pullback to the 0.7300 may cause the level to become support.
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  • #92,637
  • Oct 12, 2015 7:27pm Oct 12, 2015 7:27pm
Quoting Davit
{quote} in addition to Iron ore prices.
where's a good place to track iron ore prices?
Hope for the best, prepare for the worst.
  • #92,638
  • Oct 12, 2015 7:49pm Oct 12, 2015 7:49pm
Quoting dab
{quote} where's a good place to track iron ore prices?
http://www.investing.com/commodities...ore-62--fe-cfr
As far as I know Iron ore is not traded spot but negotiated on contract bases.Recent Aussie rally correlated with iron going up slightly.
Looking at future contracts prices are on serious decline all the way to 40.56
In trading, you have to be defensive and aggressive at the same time
  • #92,639
  • Oct 12, 2015 8:09pm Oct 12, 2015 8:09pm
Quoting Davit
{quote} http://www.investing.com/commodities...ore-62--fe-cfr As far as I know Iron ore is not traded spot but negotiated on contract bases.Recent Aussie rally correlated with iron going up slightly. Looking at future contracts prices are on serious decline all the way to 40.56
Thank you, will have more of a look at that but it looks very helpful!
Hope for the best, prepare for the worst.
  • #92,640
  • Oct 12, 2015 8:35pm Oct 12, 2015 8:35pm
Quoting SkyrEk
Long due correction gonna happen. Can't possibly go on 9 consecutive daily gains. Monitor PA before engaging shorts. It may or may not be the end for the bulls. Watch first and be patient.

Nice correction downwards.
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