AudUSd

[Obsidian 10]

obviously it is weak to pass 1.08 but also strong enough to stay above 1.06...

Anyway range is huge enough to grab 50+ pips at least...

[Obsidian 10]

update on previous post: closed 1/2 @ 1.0709, moved sl to 1.0770, tp to1.0630

[Obsidian 10]

closed remaining @ 1.0680, I won't be greedy seems like this level will be holding for today at least...

[Mysticforex 13]

If we break 10596 today, I would be willing to take a short on bounce to 10625.

with a S/L @ 10652, and a TP @ 10530

This is based on price action.

 

On the Fundamental side, a lot has to do with bad news rumors, murmers, rumbling about

China growth slowing down, and what the RBA is going to do at the next interest rate meeting.

[kuokam 10]

I see gold and aussie behaving alike lately

[Mysticforex 13]

Gold is a top Australian export and its elevated price means that the total value of exports has risen accordingly.

 

http://http://finance.yahoo.com/news/australian-dollar-strongly-correlated-gold-160000119.html

[Mysticforex 13]

Holding short till 10480... Monthly Pivot.

[Obsidian 10]

I don't have any open positions now but I think we may see 1.0640 or 1.0690 before another dive

[Mysticforex 13]

I don't have any open positions now but I think we may see 1.0640 or 1.0690 before another dive

 

 

Agree... however, NFP could be a factor, so standing aside for now.

[Obsidian 10]

I have a feeling that today will be an interesting day

most pairs are around s/r levels...lets see how the week will end...

[Obsidian 10]

NFP Jobs data is better than expected but the trade deficit widened...anyway seems like "buy $, wear diamond" next week

[Obsidian 10]

I think it is worth watching aud/nzd, may consider going long above 1.2920

aud/usd longs seem to be dangerous at the moments...gold is falling pretty fast...

[kuokam 10]

Gold falling and aud correlated to gold, aud should be falling as well.

 

I think it is worth watching aud/nzd, may consider going long above 1.2920

aud/usd longs seem to be dangerous at the moments...gold is falling pretty fast...

[Mysticforex 13]

I think it is worth watching aud/nzd, may consider going long above 1.2920

aud/usd longs seem to be dangerous at the moments...gold is falling pretty fast...

 

 

I have never treaded aussie/kiwi, But I will keep an eye on it.

 

I am very happy with A/U, for a while I thought it may not print a lower low on the Daily.

 

Very happy with GBP/USD.

 

I used to have the GBP/USD Tags on my car... I switched to GBP/JPY when they became available:

 

 

 

 

 

When these bcame availeable, I got these:

[kuokam 10]

Nice rally in G/J recently. Did you trade it?

 

 

I have never treaded aussie/kiwi, But I will keep an eye on it.

 

I am very happy with A/U, for a while I thought it may not print a lower low on the Daily.

 

Very happy with GBP/USD.

 

I used to have the GBP/USD Tags on my car... I switched to GBP/JPY when they became available:

 

 

 

 

 

When these bcame availeable, I got these:

[Obsidian 10]

we may see another attempt to 1.0550 and 1.06

meanwhile also watching jpy&crosses closely...

[Mysticforex 13]

The RBA will be realsing "The Financial Stability Review will be released at 11.30 am on: Weds March 28th.

 

On the 3d of April we get the next central bank statement on interest rates.

 

a former RBA board member Solomon Lew had this to say:

 

"I really believe the Reserve Bank has mishandled the mining boom to the great detriment of the non-mining sector and particularly retail, which is one of the key drivers of economic activity,"

 

"I'd be calling on the Reserve Bank to cut interest rates by 50 to 75 basis points at the next meeting. I think the Australian economy's in trouble."

 

The story cab be found here:

 

| The Australian

 

 

So, The real question as far as we are concerned, is when does the "Rumor/Fact" start pricing in?

Edited March 25, 2012 by Mysticforex

[Obsidian 10]

thank you for the schedule

 

I guess a 0.5 cut would be enough to see a free fall to the parity level.

[Obsidian 10]

1.0550 is the key to 1.0690-1.0750 but...

[CYP 10]

thank you for the schedule

 

I guess a 0.5 cut would be enough to see a free fall to the parity level.

 

Did they make the cut or is it still concerns over China? AUD.USD trading at 1.037 level now.

 

CYP

[Mysticforex 13]

I posted somewhere in an earlier post the dates when the RBA meets to discuss cuts.

So, it must be "China" worries.

 

 

edit: spelling

[Mysticforex 13]

Since it's the end of the month here are some interesting stats on A/U:

 

In the past month.

 

Made New High 1 Time

 

 

Made New Low 10 Times.

[Obsidian 10]

Chinese Manufacturing PMI 53.1 (50.9 forecasted, 51.0 previous)

HSBC Final Manufacturing PMI 48.3 (48.1 previous)

lets see how market will react...

[Mysticforex 13]

I would like to see a break of some decent support @10330.

[CYP 10]

The RBA will be realsing "The Financial Stability Review will be released at 11.30 am on: Weds March 28th.

 

On the 3d of April we get the next central bank statement on interest rates.

 

a former RBA board member Solomon Lew had this to say:

 

"I really believe the Reserve Bank has mishandled the mining boom to the great detriment of the non-mining sector and particularly retail, which is one of the key drivers of economic activity,"

 

"I'd be calling on the Reserve Bank to cut interest rates by 50 to 75 basis points at the next meeting. I think the Australian economy's in trouble."

 

The story cab be found here:

 

| The Australian

 

 

So, The real question as far as we are concerned, is when does the "Rumor/Fact" start pricing in?

 

So I'm sim-trading the AUD.USD and still trying to figure out patterns of this currency pair. My question is, if Australia cuts interest rates by 50-75 basis points, we should expect to see a rise in the AUD.USD pair, correct? Or do I have this backwards? Any help on this silly question would be appreciated.

 

Still learning,

 

CYP