AUD/USD

i am selling my friends, and if keeps going up, i will be selling more, ofcourse i have a SL

here we go why

the same thing with nzd/usd
good luck to everyone

Looks like a ending diagonal in play before dropping

it is a ending diagonal in triangle , which is part of ABC corectin from multiwave
waiting for a big drop, may wait for a while, but i am not buying

Missed the move up and my short order (to add to existing shorts) at 7712 not hit so just staying patient for now.

I don't see a triangle.

Just open short at 0.7699

hmm so many bears here.
i still think that it's neutral now. it will take an actual rate cut from the RBA or increase from the Fed to push it below and back into a bearish track. the market appears to have been waiting for this before making any commitment....but time has run out and we have reached the squeeze at the end of the converging down and up trend lines. it's broken out above now and from here chart pattern points to it actually rising back to at least 7834 (april 2016 high). to have it go downwards from here, we're going to need some pretty bearish factors i think.

that said, long term fundamental expectations (NOTE the word 'expectations') still look encouraging for bears, so i won't be surprised to see it selling off especially in a risk-off environment. my general inclination is to sell the peaks, but i will not hold for anything longer than an intraday trade. good luck all!

0.7% cpi, hah whatever. 15% rise in fruit... somehow I don't think fruit is going to get Australia out of the bubble / hole it's digging.

Just closed my short at 0.7683. Got some Green pips.

Reason, because I'm still thinking that AUD will likely still going up.. But for now, I'm not going for that. M have to watch where the price will be these next 4 - 6 hours ahead.

Forget about trying to predict news. All we have as retail traders are chart patterns.

I disagree on your "All we have as retail traders are chart patterns" statement. I don't trade chart patterns at all. I only trade high probabilities entries. Don't care much if its a doji, or three ducks in a row.

Morgan Stanley has announce they have gone short tp .65 sl .7750

I am currently short at .76900 looking for a 200 pip drop.

Hi Paul,

I think the AUD has been pushed to the limits... A sell off will commence shortly.

AUD against all pairs has risen dramatically today.

0.7776 would be a decision area for me.

why there may i ask?

probably at either of these two levels for an intraday trade, i'd be willing to take the risk and target 77cents for TP. sell once at 7734, because that'll mean the pair has done 100pips for today; it will definitely retrace. if it goes further, then 7750 should be the limit for a 2nd sell.