Hello all, Curious if anyone traded the move on the AUD/USD pair on the US employment release today? Also can you tell me what the buying spike was later in the trading day at 3.20 AEST as this buying spike shows up on ‘ALL’ the currency charts which had a pairing w the USD. Many thanks Zenin
Chart is a 5 Min AUD/USD chart for example of news time release and chart response.
Other charts showing the similar timed spikes which i’m guessing is reaction to US Employment News and later something news related as the timing is almost exact across the board of USD pairs. Please let me know as i can’t find the driving source for this timing of these ‘later’ spike. Thanks!!
Kashix thanks! You could be right w/ the Philly Fed News. Are you real time trading news? Is there a comprehensive online news service you use over another? Altough this news was just a 1 1/2 after the Employment figures ad the spike i am focusing on is a few hours later.
FYI – AEST = Australian Eastern Standard Time…Time frames are 5 minutes AUD/USD pair and the second chart is 5min GBP/USD as an example of the similar timed spike which seem to both moved at the same time, so i was assuming there was some later news
There doesn’t always have to be news to affect price. That could be a reactionary effect to both news pieces. As it sold off and hit support, it started climbing back up and then once the sellers ran out, it filled the liquidity gap. That could be an explanation. forexfactory com is a popular site for news.
Kashix, Totally understand the news won’t always effect price directly Ie: News being time reactive to ‘actual’ information release. However, i’m really interested in last night trading mainly because the first chart reaction was to an important Employment news which obviously effected the AUD/USD price. Then once the selling of the AUD/USD ended, a few hours later an almost every chart paired with the USD reacted again to something other than just buying/selling pressure from a source other than just what i assume was just normal buying or selling due to profit taking or a technical support price points. Zenin
The first piece of news brought price to the highs, where there’s a clean level. It couldn’t break it and triggered a bunch of shorts. The 2nd piece of news added liquidity to the whole situation and bled price down to the clean lows of the week. Now most pairs are paired with USD in some way. As EU shifts, so will EJ, etc. So at 8:30 on your AU chart, that’s when it sold off right? Look at 10:00 when the Fed Philly Manufacturing Index came out. It reversed price on that 5 min candle. Because of how fast price came down, there’s a huge liquidity gap that was filled at 13:10 (the candle you’re talking about). It’s just how price works. When the spread is huge and people trade using market orders, price will move like that.
Thanks for your feedback, you could be correct…i’m just simply asking the questions and absorbing information from any replies. Currently i’m also just using a demo account (and will be demo trading for at least another 6 months minimum). As far as the second piece of news for me however on the AUD/USD was 5 hours later according to my time charts. Not sure if it was 13.10 your time. Zenin
