I’m certainly watching the same level for the same reasons!
(Well, looking at RSI rather than Stochastic, but virtually the same reasons.)
ST
Saw this setting up on Sunday night. It feels good to know others were watching it too. Especially people that I watch… all the time… I’m not creepy, I promise
Certain contributors to this thread will never relax in the shower in quite the same way again!
I actually think this pair has turned over…I’m looking to go short after a retracement to continue the downtrend and remain below the 200 SMA.
I am sitting out right now. We could see a retrace but I am more wanting the 1.02 fig taken out and retested before I look to get short again. Shorting right now would not be a good idea in my opinion. Guess we will see what happens
Yeh I agree with Bob… Not until NFP is out and we can get a more clear picture of QE3 prospects… Market seems to be pricing in no QE3… So if NFP disappoints, and QE looks more likely, expect a correction of this sentiment…
Already had a less dovish RBA statement last night… If we get QE then we will see a significant short squeeze to say the least.
I’m watching this one with a vested interest… I shorted this pair last week after it broke the channel support.
I’m thinking it will probably find some support this week ahead of NFP but then continue down, so my target is is the 50% fib @ 1.0100 with a bit of patience if it finds some correction this week.
As for speculation about QE3 having any effect… maybe, but I don’t think anything significant and lasting just yet - do you really think QE3 will happen before the elections?
Yeh I think it’s possible, especially if NFP disappoints… If it comes in high then not really.
ISM already came in low today… Be very wary of a low NFP if you are short commodities and risk right now…
An announcement for QE will have enough of an affect to wipe out any reasonably placed SL on a short position taken this week.
Hmm, looks like you’re onto something here. NFP came in weak below 100K and could revive QE3 speculations yet again, which means USD is back to trading on fundamentals.
Yep, today’s print has definately disappointed this setup. I’m still not sure there’ll be any QE before elections but it looks like the market disagrees with me! Thankfully I surrendered to Banker928’s caution and gave up on my 1.01 target and closed yesterday for +150 pips, thanks for the wake-up my friend!
Now I’ll be sidelined on this for a while.
By the looks of its daily chart, AUD/USD looks poised to be headed down under! If those Fibonacci levels hold as resistance, the right shoulder might form and confirm that the Aussie’s uptrend is indeed over. Stochastic is still pointing up though, which suggest that Aussie bulls haven’t given up the fight so this pair could have more room to head north.
In other words it could go up or it could go down,why cant life be simple eh,Id have to agree about south in the long term though,it dosent seem that th OZ economy is in that great a shape anymore,are we brave enough to hold onto a longterm short though thats the big question.
Spotted a good opportunity to place a long AUDUSD trade. If AUDUSD touches and holds onto the 3rd point of the rising channel, look to go long.
Ha! Same here. And from what I learned from experience, best stay on the sidelines when confused. When in doubt, stay out!
Looks like it’s having trouble sustaining that rally for now. Let’s see what FOMC brings.
As if the evening star pattern alone wasn’t enough to give me the adrenaline rush that I get when I see clothes on sale, I also found that the pattern emerged near the 1.0600 handle. That’s not only a psychological level, but is also AUD/USD’s previous high on the daily chart!
coupled with more problems with china/japan ,has to to bad for the AUD,wouldent you think but then again…
What price are you guys selling ?