I wonder how far this “retracement” will go?
Rates cut in Australia is positive for the Aussie, but in order to get a stronger recovery, it needs a weekly closure above 0.914.
So why exactly was the rate cut seen as bullish for the AUD? I thought rate cuts were meant to make the currency go down since its more available. You know supply/demand and all that. That move upwards goes against everything I’ve been taught.
First up is something for countertrend traders. AUD/USD looks like it’s on the verge of a reversal after price bounced from the .8850 area where a hammer popped up. On top of that, I’m also seeing a possible bullish divergence waiting to play out on the daily chart. A few more confirmation candlesticks wouldn’t hurt though, before I seriously consider an Aussie long trade.
I think that this first bearish sequence at 85 is going to finish soon for AudJpy. Obviously it is just going to be a break to be exploited to get a profit from the short positions.
If today employment report confirm what RBA president says about expecting an increase unemployment should had a bearish impact in audusd or should be bullish because confirm what has already been said?
It’s pretty obvious that we should have seen a primary bottom for Aud. The excessively negative sentiment causes strong rebounds like the one of today, due to the first positive news for Aud (see China export).
Closed my euraud long for +435 pips, not as big a trade as I was hoping for but respectable enough!
Hoping this rebound has some follow through now for a short on the same pair.
Finally, the market is starting to agree with me, too much negativity on the Aussie: it’s better to be contrarian.
How far would you estimate it to go up?
Buy rumors, sell news: this is how it usually works. The market has experienced the rates cut as a liberation and a certainty. There will be time to speculate on a new rates cut, but not now.
What we are going to see on AudUSd is a wave 4 and then I’m not expecting it is very deep. Let’s say long Aussie up to 0.96/0.97.
The recovery of copper keeps on pushing the Aussie. Strong resistances in area 0.93.
AUD/USD has been rallying really strongly lately and it seems that retracements have been shallow. Right now, the pair has already bounced off support at the 38.2% Fib near the .9100 major psychological handle. In fact, it formed a doji before showing some upward momentum. With stochastic moving out of the oversold region, could the pair be headed higher as well?
Never forget that August is one of the worst months for the Aussie and therefore a weakness is still expected.
This setup goes out to countertrend traders out there! AUD/USD is hitting a support at the .9000 major psychological handle near the bottom of a falling channel. With a bullish divergence popping up on the 4-hour chart, the Aussie bulls are getting ideas. What do you think? Is this pair headed higher?
One of the most difficult month of the year is coming to an end for the Aussie: is a rebound going to start?
The comdolls haven’t really been the darlings of the currency arena lately, but hey, maybe we’ll soon see a turnaround! In fact, I’m looking at a possible symmetrical triangle forming on the 4-hour chart. What do you think? Will the trend line support hold?
I think this support will hold, as the net short exposure of speculators on the futures market is still too extrem and this should not favor a new bearish rally.