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AUD/USD

  • #96,881
  • May 2, 2016 1:13am May 2, 2016 1:13am
With RBA looming tomorrow, i'm having a neutral bias.

I told myself that if i have any open positions prior to RBA, i'm a gambler, not a trader. Unless we have insider information or we are friends with Stevens, there is no way to determine what is the outcome. Hence, i will let the dust settle first before executing a trade tomorrow. Kinda done for today, scalping for about 10- 20 pips for the day.

Have a good trading week ahead!
  • #96,882
  • May 2, 2016 1:16am May 2, 2016 1:16am
I guarantee they will hold tomorrow (and am looking to build long positions accordingly).

Related: RBA being told to save rate cuts for when Australia loses it's AAA credit rating:
http://www.afr.com/news/politics/sau...0160429-goi7gs

One crappy data point - which was mostly driven by the price of oil is not going to make the RBA budge given it was already not really looking to cut with any urgency.
  • #96,883
  • May 2, 2016 2:03am May 2, 2016 2:03am
Quoting SkyrEk
With RBA looming tomorrow, i'm having a neutral bias. I told myself that if i have any open positions prior to RBA, i'm a gambler, not a trader. Unless we have insider information or we are friends with Stevens, there is no way to determine what is the outcome. Hence, i will let the dust settle first before executing a trade tomorrow. Kinda done for today, scalping for about 10- 20 pips for the day. Have a good trading week ahead!

  • #96,884
  • May 2, 2016 2:58am May 2, 2016 2:58am
i see no reason for aud to devaluate. in my opinion, audusd will rise to .87xx-.89xx within 1-to-3-month time. you are welcomed to short
  • #96,885
  • May 2, 2016 5:36am May 2, 2016 5:36am
Quoting alayinizAMK
bs to aside im long now and if it fails i will be looking at another trade at white level. Could even be short next time i don't know anything yet. trade safe {image}
still in?
  • #96,886
  • May 2, 2016 5:48am May 2, 2016 5:48am
Has cutting rate work for other countries? it has had the opposite effect, so if RBA wants to lower AUD, they should hold and hold they will, AUD is a buy, if there is a surprise cut, I would be a dip buyer.
  • #96,887
  • May 2, 2016 6:16am May 2, 2016 6:16am
Quoting Don96
{quote} still in?
yes did also add, you must be aware of possible res since you asking
keeping it tight right now
Attached Image
  • #96,888
  • May 2, 2016 6:34am May 2, 2016 6:34am
RBA tomorrow will be no intervention. Continue UP
  • #96,889
  • May 2, 2016 6:38am May 2, 2016 6:38am
I think rates will be left on hold.

Aud quick spike up then sink.
20 Pips a day keeps centerlink away
  • #96,890
  • May 2, 2016 7:18am May 2, 2016 7:18am
my guess is res between 0.766/0.786 then down to 0.762x maybe
  • #96,891
  • May 2, 2016 7:46am May 2, 2016 7:46am
in short for a few on aussie
looking to grrr...ind it down
Attached Image(s) (click to enlarge)
Click to Enlarge Name: AUDUSDH4.png Size: 35 KB
Click to Enlarge Name: AUDUSDH41.png Size: 31 KB
Come with me if you want to live....
  • #96,892
  • May 2, 2016 7:48am May 2, 2016 7:48am
Symmetrical triangle forming on 4 hour.
  • #96,893
  • May 2, 2016 7:53am May 2, 2016 7:53am
Quoting Starcraftmaz
I guarantee they will hold tomorrow (and am looking to build long positions accordingly). Related: RBA being told to save rate cuts for when Australia loses it's AAA credit rating: http://www.afr.com/news/politics/sau...0160429-goi7gs One crappy data point - which was mostly driven by the price of oil is not going to make the RBA budge given it was already not really looking to cut with any urgency.
I'd really like to know how that article logic works.

keep rates on hold, maintain a sluggish economy, reduce tax receipts even further as a result, need to borrow more as a result, lose AAA rating as a consequence, have borrowing costs shot up THEN reduce rates

That's like saying, hey man, wait until that infection is 2 seconds to midnight from becoming gangrene and your about to lose your leg, THEN take the antibiotics ok.
Come with me if you want to live....
  • #96,894
  • Edited 8:05am May 2, 2016 7:58am | Edited 8:05am
Weekly pivot should make this a good wall of resistance

I'm short and looking forward for more dips

http://i.imgur.com/zUAQ7a4.jpg

Happy pips!!~
Attached Image (click to enlarge)
Click to Enlarge Name: shortaudusd.JPG Size: 106 KB
  • #96,895
  • May 2, 2016 8:18am May 2, 2016 8:18am
From i can gather from the PA.......... there are targets at both 7680 - 7700 and 7850 - 7900.
Both these targets have 7580 - 7600 as the support which means the support will most likely hold before we get the above 2 numbers.

The real problem for the bears is that if the pair gets 7850 - 7900..... the volume and momentum generated will most likely open up the target at 8050.
  • #96,896
  • May 2, 2016 8:24am May 2, 2016 8:24am
Curious..... anyone planning to short this and why?
  • #96,897
  • May 2, 2016 8:54am May 2, 2016 8:54am
Quoting 10cents
From i can gather from the PA.......... there are targets at both 7680 - 7700 and 7850 - 7900. Both these targets have 7580 - 7600 as the support which means the support will most likely hold before we get the above 2 numbers. The real problem for the bears is that if the pair gets 7850 - 7900..... the volume and momentum generated will most likely open up the target at 8050.
Longs will be in trouble if 7580 is broken. 100 pip fall from there based on forming 4 hour symmetrical triangle. Break of bottom trendline leaves room to fall. So 7580 will need to hold or it drops.
  • #96,898
  • May 2, 2016 8:56am May 2, 2016 8:56am
Quoting alayinizAMK
{quote} yes did also add, you must be aware of possible res since you asking keeping it tight right now {image}
sl/w tp 0.764ish
& reloaded
Attached Image
  • #96,899
  • May 2, 2016 8:59am May 2, 2016 8:59am
Quoting Trendzalore
{quote} Longs will be in trouble if 7580 is broken. 100 pip fall from there based on forming 4 hour symmetrical triangle. Break of bottom trendline leaves room to fall. So 7580 will need to hold or it drops.

I will be extremely cautious selling into this support......

You can test drive a short and let us know the result of your 4 hour symmetrical triangle strategy.
  • #96,900
  • May 2, 2016 9:01am May 2, 2016 9:01am
Quoting alayinizAMK
{quote} sl/w tp 0.764ish & reloaded {image}
& hit
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