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AUD/USD

  • #96,461
  • Edited 4:19am Apr 18, 2016 3:29am | Edited 4:19am
Quoting 10cents
7650 is a support with 7750 thereabout as a resistance, shorts at supports are always risky unless the trader knows what he is doing.
Or has an endless bankroll ;-)
  • #96,462
  • Apr 18, 2016 7:02am Apr 18, 2016 7:02am
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  • #96,463
  • Apr 18, 2016 8:26am Apr 18, 2016 8:26am
buy audusd...go go 0.78xx
  • #96,464
  • Apr 18, 2016 9:05am Apr 18, 2016 9:05am
Right back to where we were Thursday/Friday, with the price at 77, trying to rally above 772 and failing over and over. Really quite boring.

PS. Taken a fresh short at 7728 (opportunistically closed all shorts from last week this morning), SL 775. Only another small position, I'm not seeing anything here beyond selling above 722, so that's all I'm going with for now.
  • #96,465
  • Apr 18, 2016 10:02am Apr 18, 2016 10:02am
Quoting galvcore
{quote} Or has an endless bankroll ;-)
Guess it depends on the trader's method....... some can spot breakouts all the time but personally i prefer not to short at supports.

Anyway seems like the move from this morning is more or less filled.......it is now at a resistance level so let's see what it wants to do here.
  • #96,466
  • Apr 18, 2016 10:28am Apr 18, 2016 10:28am
May be heading to 7780 - 7800....... not too sure about this target so no trades in.
  • #96,467
  • Apr 18, 2016 10:33am Apr 18, 2016 10:33am
This is complete madness. It would lead to the biggest recession this country has ever had. Sad, because it could have been and should have been prevented.
  • #96,468
  • Apr 18, 2016 5:23pm Apr 18, 2016 5:23pm
Quoting cold chisel
This is complete madness. It would lead to the biggest recession this country has ever had. Sad, because it could have been and should have been prevented.
If 1.10 didn't, I highly doubt 78/80 will trigger a recession (other things might though...).

RBA minutes 11:30 local time, they've been reluctant to do any currency jawboning, but will the recent strength give them enough motivation?
  • #96,469
  • Apr 18, 2016 6:09pm Apr 18, 2016 6:09pm
Quoting Starcraftmaz
{quote} If 1.10 didn't, I highly doubt 78/80 will trigger a recession (other things might though...). RBA minutes 11:30 local time, they've been reluctant to do any currency jawboning, but will the recent strength give them enough motivation?
1.10 was in a different economic situation. It was in a mining boom and BECAUSE of the mining boom. There is NO mining boom anymore and with the high AUD as of late, there will be nothing else.
  • #96,470
  • Apr 18, 2016 6:54pm Apr 18, 2016 6:54pm
strong buy audusd..
  • #96,471
  • Apr 18, 2016 8:06pm Apr 18, 2016 8:06pm
Quoting 10cents
May be heading to 7780 - 7800....... not too sure about this target so no trades in.
Great call this morning!
  • #96,472
  • Apr 18, 2016 8:25pm Apr 18, 2016 8:25pm
This pair used to be the easiest pair to trade, when it was going nowhere but down down down. This recent rally has made things much more difficult to manage. Is it a trend change? A correction? AUD, you've become the bane of my existence. But I still love you.....sort of.
  • #96,473
  • Apr 18, 2016 8:32pm Apr 18, 2016 8:32pm
Hahaa..every one can give air targets, the question is if you have open position and give target, When it met then it is called great call
  • #96,474
  • Apr 18, 2016 8:34pm Apr 18, 2016 8:34pm
Quoting PA is King
{quote} Great call this morning!


Looks like I was too hasty to assume it would go down again. Now the question is will it go higher or come down.
  • #96,475
  • Apr 18, 2016 8:50pm Apr 18, 2016 8:50pm
People still think this is going down in the long run?
With Oil going down yesterday AUD went higher before Oil rallied.

There are still traders who are waiting to short at .7850 which for me means AUD will go highe than that to hit their sl.
Remember around .68, nobody thought AUD will go up and so very few traders bought AUD.
The same thing is happening now, there are still traders who are shorting and waiting for it to go higher to short.

AUD will only come down once most traders are convinced the downtrend is over and there is a trend change, therefore I will keep buying.
  • #96,476
  • Apr 18, 2016 9:28pm Apr 18, 2016 9:28pm
AU should go down but not because trend change/bearish ... simply because big players need profit taking,
as long as .7640 hold the trend is up and i think we might see .7800 broken within a week or two.
  • #96,477
  • Apr 18, 2016 9:33pm Apr 18, 2016 9:33pm
I'm seeing a pullback to the daily pivot area - 0.7712
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  • #96,478
  • Apr 18, 2016 9:34pm Apr 18, 2016 9:34pm
With the election looming and if the polls continue to point to a government change, the aussie will tank big time. The ABS has been cooking books to make the employment numbers way better than reality on the ground just to help the government get reelected and although technically we could shoot further up, fundamentals always prevail in the long run and this pair is looking at 60 rather than 80.
Don't get mad, get even!
  • #96,479
  • Apr 18, 2016 10:12pm Apr 18, 2016 10:12pm
Quoting ongcan
This pair used to be the easiest pair to trade, when it was going nowhere but down down down. This recent rally has made things much more difficult to manage. Is it a trend change? A correction? AUD, you've become the bane of my existence. But I still love you.....sort of.
It was a trend change on the daily chart and below starting back towards the end of January.
  • #96,480
  • Apr 18, 2016 10:21pm Apr 18, 2016 10:21pm
Right now markets globally are in a contradiction period.

Everyone is short equities because fundamentals and technical's point that way but punters are getting stopped.

Same can be said about the AUD.

Once the market has been burnt and the shorter's have given up, then sensibility will prevail and it will come lower.

Smaller positions and keeping your powder dry for the day when it does capitulate is the key.
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