It might break higher tonight. Much depends on Europe though I reckon.
Yesterday’s little red candle looks like a bullish ‘rest’ candle to me.
I think the EU is the big thing here and whether or not they manage to stabilise the situation over there.
Aww, that’s too bad. What’s your take on AUD this week?
Good call! It’s halfway towards your target now. Did you move your stops? Or add to your position, maybe?
I’m a cautious bull but again I don’t like holding for too long. Politically and economically there is deterioration but if China and Europe pick up we’ll still be ok -(us Aussies). Government policy is making a gradual mess of the economy.
it just popped through the 1.03 mark…wohoo
False break-out…be careful!
Price has been creeping up through resistance, I’m thinking the focus right now is on risk sentiment and the EURO interest rate decision tomorrow. Any break-outs are to be taken as false breakouts. The pair has been consolidating since beginning of this month. Based on the dojis and the bearish divergences shown by the indicators, I’m thinking we’re looking for a short setup. I’m watching this level pretty carefully, I’m thinking a straddle play would also be a legitimate option depending on how the price is going to progress from this point. Here are the daily chart and the hourly chart of the pair that I’m eyeing. What’s your take happy pip? :10:
I’m seeing a bearish divergence on the 50% Fib, former support, and 1.0250 minor psychological level on the daily. And there are a bunch of reversal candlesticks (dojis and spinning tops) right there, too.
Those technical signals are lining up for a short trade but it’s tough to tell how the NFP could affect all this. I’m thinking we’re gonna see a strong figure which could be dollar bullish this time since this could ease QE3 speculations.
I’m sitting this one out though since I’ll spend the rest of the week enjoying the 4th of July celebrations. Are you guys gonna play this pair today?
Yeah, I think you should sit back and enjoy your successes for last quarter! I’m sure it’s all well deserved 
I’ve already set up to play this, but looks like on the hourly I’m seeing a Bullish Engulfing candlestick formation at major support as well as the oscolliators signalling out of oversold territory. Don’t know if it’s gonna break down right now, but if it does, I’ve got a short entry position at 1.02363 and SL at 1.02866 and PT : 1.01271 R/R (1:2).
Has AUD/USD finally found resistance at the 1.0300 major psychological handle? By the looks of that bearish divergence and overbought signal on the daily time frame, it sure seems so! On top of that, the 50% Fib coincides with a former support level, which could be holding as strong resistance now.
Growth concerns in China, along with ongoing euro zone debt woes and weak U.S. jobs data, could keep risk taking at bay and this could keep the higher-yielding Aussie southbound.
Was anyone able to short at 1.0300?
Hi Happy,
$1.0270 seemed to be a barrier. I have had several small short trades. Your negative assesment is pretty much on the money I think. The only think to worry about if you are short is whether or not Ben Bernanke decides to pull out his Bazooka. I still think he will wait for things to get real bad before acting.
I short AudUsd now.
Here is my setup
Nice! Did you hold on even until the FOMC minutes release? Raking in the pips now, I bet!
Hi Happy,
I’m still way too stupid to manage that! :59:
Markets have been very volatile and I have been changing my view daily. Now everybody has turned bearish again. FOMC and Chinese data are starting to make it look clear cut but you never know. Money printing and even the prospect of it can cause the markets to rally.
Nice entry! All the technical signals seem to line up for a short trade on all time frames. Plus there’s the weak Australian employment data too and the possibility of weak Chinese GDP later on. Gonna close at that 1.0125 support your marked or just lock in some profits there?
Thanks happypip! Im basically technical trader. if i found any signification indication at that 1.0125 support area to move the prie move down then i will wait till next move; otherwise i close the trade.
Fresh Falling:) Price now reaching my first target area at 1.0125; still holding my position; expecting more down but watching the candle behavior closely…
closed my position at 1.0130. Thanks
Here is Just formed a combo setup 1hr chart on AudUsd. There has a Inside Bar setup with false break pin bar. Now that Mother bar just break.
On other side, If we see at 4hr chart; price already found its support at 1.0125. Now price is staying at 1.0175 area. next resistance seen at 1.0247 area.
I set my buy entry after close the last 1hr candle at 1.0175,
Stop loss : Just bellow of the pin bar which is under Inside bar setup
I expect 1:2 risk:reward from this trade…
Trade your Own risk
I took the same long based off the 4 hr as you posted. Hope to see it go to the 1.02 figure then I will break even this week.