AUD/USD

Moving into a bottoming pattern in hourly TF

And this whole fall this A-B-C that you have drawn is a piece of a larger wedge or something?

Looks bearish to me with some support targets below

just wondering if ultimately it will retest the weekly channel break before heading back up
I like the highlighted pressure candle before the breakout as a guide

broad channel break and retest
rallies would be good to short to next main support zone I think

thank u all for your advice.
1 hr to open...

good luck to everyone!

Yes, a larger wedge or (expanding) ending diagonal (c) white.

For me, once 7150 gives in, no retrace before 7110. GDP data is out on Wednesday and I'll cash in all my shorts. A correction might be due regardless of the actual numbers especially since a lot of positions will be closed out at the end of May tomorrow night.
I don't know if we'll see 7300 again but in case of 7250 I'll reload heavy shorts again targeting 6950 first.

The (4) in yellow is it a 4 (larger degree) because has made overlaps with the (3) so I thought that there where you have the b should be the (3), what do you say about that?

Boom...

http://www.businessinsider.com.au/au...r-units-2016-5

MAY 30, 201611:50 AM
[SYDNEY] The Australian and New Zealand dollars were pinned near multi-month lows on Monday after comments by Federal Reserve Chair Janet Yellen reinforced expectations of a US interest rate hike as early as June.
The Australian dollar fell to US$0.7169, from US$0.7186 late on Friday. A break of a three-month trough of US$0.7145 would target the double bottom of US$0.7108.
Having lost 0.5 per cent last week, the Aussie was on track for its largest monthly drop in around 18 months with a 6 per cent fall, mainly due to speculation that US rates will go up soon.
Ms Yellen said on Friday that a rate increase in the coming months "would be appropriate", if the economy and labour market continued to improve.

Also undermining the Aussie was a further reduction in speculative long Aussie positions with net longs at just 124 contracts the week ending May 24, down from 25,000 in the previous week.
Sean Callow, a senior currency strategist at Westpac said it was the least bullish stance since 15 March.
Investors were cautious ahead of a busy week at home with gross domestic product, retail sales and trade data due for release.
The New Zealand dollar touched its lowest in two months at US$0.6676, weakening from US$0.6703 in early trade. It was last at US$0.6694.
Support was found at US$0.6670, then US$0.6654.
The kiwi has dropped 4 per cent this month, partly due to a disappointing milk payout forecast by cooperative Fonterra. Dairy is New Zealand's top export earner.
The Aussie continued its rebound against the Kiwi, strengthening to NZ$1.0717 from a low of NZ$1.610 touched last week.
New Zealand government bonds eased, sending yields 2 basis points higher at the long end of the curve and four basis points higher at the short end of the curve.
Australian government bond futures eased, with the three-year bond contract off 3 ticks at 98.380. The 10-year contract slipped 1.5 ticks to 97.7300, while the 20-year contract was off 1 tick at 97.1250.
REUTERS


http://www.businesstimes.com.sg/gove...d-rate-remarks

Are you short on AUDUSD;

Looking to buy some time soon.

As i said yesterday i'm still long @0.71652 sl.0.71255 tp 0.73...
Tonight will be some news on aud...

yes 7110 tp

ASX 200 drops 40 points at opening. Hopefully a bit of insider trading going on there wonder which stocks are being dumped...

AUDUSD what a move 15m
what next?anyguess?

My guess=Pending short .7243 SL .7263

Greater reward to the upside...conservative buy, with tight stop. Wait for a clearance of 0.7260... first target 7350.

1)sentiment to the downside.
2)End of month approaching.
3)Stop run chances are greater.
4)Dollar index is farming a head and shoulders pattern.
5) AUD index is at lower portion of an ascending channel

Blah blah....but what do I know. Good luck.