AUDUSD HITTING 5 Years low. Is it a good time to go long for the long run??

[havenoidea]

Originally Posted by havenoidea

1st T/P 0.6380 95 % surely, i did double my bet on this one
2nd T/P 0.6450

but good luck anyways, stick with your rules

yeah, money money, all T/P HIT good game all

[Ron215]

It seems bear claws are taking control on AUD. Let's see if we can take advantage on this situation.

[justlearning]

Originally Posted by manzanofab

Hi, can anyone explain me why if the US economy is going so bad why the us dollar is winning terrain against all the currency?
is a econmy of a country goes wrong usually the coin of that country goes down right? why this case is an exception??
there where any technical signal for the big 3500 pips down of the pair AUD/USD?

thanks

As far as I understand there was a fundamental signal...Investors dumped the Aussie in order to buy in to a "safer" US currency,, among the global financial meltdown

[mp6140]

the "bad" news in the US has already been "priced in" to that currency and now we sweep down on the "johnnie come later" currencies, as was to be expected !

we are now "used" to the US bad news and no one really cares except to play it during news releases and go short against most other currencies.

enjoy and trade well

mp

[shemwatson]

Originally Posted by manzanofab

Hi, can anyone explain me why if the US economy is going so bad why the us dollar is winning terrain against all the currency?
is a econmy of a country goes wrong usually the coin of that country goes down right? why this case is an exception??
there where any technical signal for the big 3500 pips down of the pair AUD/USD?

thanks

the large fall in the aud was largely due to the unwinding of carry trades esp Large drop in aud interest rates. All other economy's rely on US consumer. A relatively small drop in US consumer spending often will not impact other economy's But a huge drop like we have now sends everyone down the toilet. Anyone looking at cot data would have seen the huge drop in long positions by large speculators on 29 july, it was all south from here. RSI was good for confirmation + exit point. Although aud/usd has made gains at 70500 today I dont think the medium term outlook is good Interest rates will probably continue downward and the countries heavy reliance on mineral/energy exports suffer. Then again I have been wrong before and its a pretty good bet that I will be again at some point in the future.

[trustdoc7]

You hit it, you are nemero Uno...

Originally Posted by leo_usb

1st post around the forums!

Noticed that it´s hitting a 5 year low and nobody is saying nothing about it, and thought this might a good time to long it.

Comments anyone??

[fxquantitative]

It seems bear claws are taking control on AUD.


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[jawnlooi]

seems like a retracement on the daily to me..