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AUD/USD

  • #94,641
  • Jan 18, 2016 11:00am Jan 18, 2016 11:00am
Price action right now on this is pretty neutral, even in my longer-term studies. The only thing I have popping off technically is an early cyclical top (light blue line on top of the chart). These can take a while to develop but often forecast some sell-off in a pair. I'd be a lot more interested if the current price levels themselves were consolidating up against one of those channels. If we get a small run up in the next 24hrs or so that stalls I might get short on this for a day or two.
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When you hit 50, coffee becomes part of a proper modeling pipeline.
  • #94,642
  • Jan 18, 2016 11:00am Jan 18, 2016 11:00am
Quoting rkr81
{quote} Ouch! As global markets nervously look on, China is expected to post its worst annual economic growth in 25 years, according to a CNNMoney survey of economists. http://money.cnn.com/2016/01/17/news...15-gdp-survey/

If this holds true... I guess we be looking at the low 60's for sure now. If not, well.... we will see lol!!
  • #94,643
  • Jan 18, 2016 11:09am Jan 18, 2016 11:09am
Quoting choubaka
{quote} If this holds true... I guess we be looking at the low 60's for sure now. If not, well.... we will see lol!!
who knows

http://www.theguardian.com/business/...city-pessimist
Forex Learner
  • #94,644
  • Jan 18, 2016 12:55pm Jan 18, 2016 12:55pm
AUD/USD is almost back where it started yesterday night. It's been real quiet with the US closed. I'm really looking forward to that GDP now
  • #94,645
  • Jan 18, 2016 3:07pm Jan 18, 2016 3:07pm
I will either close all sorts or set tight guaranteed SLs an hour before the Chinese data - really don't recommend anyone to be in the market for the release. Expect liquidity to dry up beforehand as usual, and then expect lots of government data manipulation as usual.
  • #94,646
  • Jan 18, 2016 3:49pm Jan 18, 2016 3:49pm
Not really concerned over Chinese data.

Its a bit like Australian employment data, all BS.

Fundamentally we can see and hear WTF is going on locally and globally.

All is not well and those expecting a sudden turn around in global growth are kidding themselves.

If you look what extent China has been doing over the past month or so the correlation that it reflects is plugging holes in the Titanic.

Sell the rally if the numbers are good.
  • #94,647
  • Jan 18, 2016 4:05pm Jan 18, 2016 4:05pm
this is my motto for today
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As Above, So Below
  • #94,648
  • Jan 18, 2016 7:00pm Jan 18, 2016 7:00pm
WOOHOO, while we are posting news links, here is a good one


RBA tipped to cut rates in June on China woes, low oil price

Read more: http://www.afr.com/markets/rba-tippe...#ixzz3xeDOGvqR
It takes a lot for me to IGNORE you, but you can try.
  • #94,649
  • Jan 18, 2016 7:06pm Jan 18, 2016 7:06pm
Come on People we all know China data is all manipulated, they will just make up a positive number and AUD/USD will go higher.
  • #94,650
  • Jan 18, 2016 7:21pm Jan 18, 2016 7:21pm
Currently long - negative data will take me out
  • #94,651
  • Jan 18, 2016 7:24pm Jan 18, 2016 7:24pm
Quoting Vorex
Come on People we all know China data is all manipulated, they will just make up a positive number and AUD/USD will go higher.
It could test 1.6920-30 before falling again
  • #94,652
  • Jan 18, 2016 7:29pm Jan 18, 2016 7:29pm
PBOC sets USD/CNY central rate at 6.5596
From forexlive.com

People's Bank of China (PBOC) sets the yuan mid point reference rate
Yesterday's mid point was set at 6.5590
PBOC to inject 80 bn yuan with 7 day reverse repos
And to inject 75 bn yuan via 28-day reverse repos

............

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  • #94,653
  • Jan 18, 2016 8:05pm Jan 18, 2016 8:05pm
Alright.. with these stats.. I'm guessing the downtrend will resume shortly.
  • #94,654
  • Jan 18, 2016 8:07pm Jan 18, 2016 8:07pm
Quoting choubaka
Alright.. with these stats.. I'm guessing the downtrend will resume shortly.
Wait for the dust to settle first
  • #94,655
  • Jan 18, 2016 9:09pm Jan 18, 2016 9:09pm
Quoting SkyrEk
{quote} Wait for the dust to settle first
Some form of stabilization is formed between .6840 - .6850.
  • #94,656
  • Jan 18, 2016 10:53pm Jan 18, 2016 10:53pm
Being a newbie I do not post much on here , still serving a long apprenticeship in this Addiction! . For me this is a very valuable thread to had to a bit of confirmation to my bias ! So a big Thank you & especially to SkyrEk who takes the time out to post replies to my Newbie questions .
  • #94,657
  • Jan 18, 2016 11:05pm Jan 18, 2016 11:05pm
http://www.businessinsider.com.au/he...ina-gdp-2016-1

here it all is in a nutshell
  • #94,658
  • Jan 18, 2016 11:12pm Jan 18, 2016 11:12pm
Looks like she's finished her little run up , short the living day light out of her again destroy this thing
  • #94,659
  • Jan 18, 2016 11:14pm Jan 18, 2016 11:14pm
Quoting redpants
Being a newbie I do not post much on here , still serving a long apprenticeship in this Addiction! . For me this is a very valuable thread to had to a bit of confirmation to my bias ! So a big Thank you & especially to SkyrEk who takes the time out to post replies to my Newbie questions .
No problems at all buddy, i'm not the best trader around here anyways.

Trade safe !
  • #94,660
  • Jan 18, 2016 11:16pm Jan 18, 2016 11:16pm
much better for aussie going to 0.660 before cash rate
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