AUD/USD

[MARKETWINNER]

Today I saw following article.

http://www.afr.com/p/business/sunday/may_transcript_the_aussie_dollar_rS3dsK4aJRhdYB4sJry1XP
May 19 transcript: the Aussie dollar

 

[havaiana]

That 2 and a half year low is looking very close right now

 

[prawn_86]

That 2 and a half year low is looking very close right now

0.9389?

For me we are right on support at the moment (weekly chart), and another down day below this will see us test that 0.9380ish, which is the next support zone.

Cant post a chart as I am at work

 

[havaiana]

0.9389?

For me we are right on support at the moment (weekly chart), and another down day below this will see us test that 0.9380ish, which is the next support zone.

Cant post a chart as I am at work

Yep that's the one, i reckon if it doesn't hit it this week we will get there after a few days retrace/range it's got to where it is now mighty quickly. If i was a long term trader i would wait for 9380 to be taken out and then start building a long position, positive swap for the win

Today/Asia if it breaks 9650 and momentum drops off i think i will play a range or small retrace to the upside. If retrace happens I like sells above 710 or again around 755 if it got there. Then again by the looks of things now it could just continue to drop....

 

[prawn_86]

FWIW i'm still calling a bounce and test of parity, unless we close on the daily down below 0.96 on the daily candle, in which case 0.9389 is the target.

I'm supposed to be going to the US soon, i'm losing purchasing power fast

 

[havaiana]

FWIW i'm still calling a bounce and test of parity, unless we close on the daily down below 0.96 on the daily candle, in which case 0.9389 is the target.

I'm supposed to be going to the US soon, i'm losing purchasing power fast

Quick, go exchange now before it hits 9580, grab some for me too

 

[CanOz]

FWIW i'm still calling a bounce and test of parity, unless we close on the daily down below 0.96 on the daily candle, in which case 0.9389 is the target.

I'm supposed to be going to the US soon, i'm losing purchasing power fast

Don't feel bad, we lost 10K in a recent CNY/AUD transfer....

 

[MARKETWINNER]

Even some top banks and currency strategist also bearish on both AUD and NZD.

Please see following links:

http://online.wsj.com/article/BT-CO-20130523-701074.html?mod=googlenews_wsj

http://www.bloomberg.com/video/saxo...ew-zealand-dollar-Q_oXCHItQl26ZAdC~RdzVQ.html

Saxo Sees Downside Risks for New Zealand Dollar

I think NZD dollar can fall more than CAD or AUD.

My ideas are not a recommendation to either buy or sell any security or currency. Please do your own research prior to making any investment decisions. Please note that I do not endorse or take responsibility for material in the above hyper-linked sites.

 

[>Apocalypto<]

fellow bottom pickers... I have taken a long at .96314 like this as a bounce point. Lines up with lows on this line to 12/2010.... SL .9530 small trade due to SL .1 lots

 

[>Apocalypto<]

fellow bottom pickers... I have taken a long at .96314 like this as a bounce point. Lines up with lows on this line to 12/2010.... SL .9530 small trade due to SL .1 lots

Stop at BE

 

[MARKETWINNER]

Pleas see following link about bearish outlook on AUD

http://www.economy-news.co.uk/austr...ustralian-dollar-outlook-is-negative-45364343

The outlook for the Australian dollar (Currency:AUD) has deteriorated through Friday trade with analysts forecasting further declines.

https://mninews.marketnews.com/inde...analysts-aud-fall-sign-alignment-fundamentals

ANALYSTS: AUD Fall Sign Of Alignment With Fundamentals

Please note that I do not endorse or take responsibility for material in the above hyper-linked sites

 

[prawn_86]

Stop at BE

Stopped out?

 

[Muschu]

Touring at the moment and arrived in Quebec City yesterday from the US. Back to New England before heading home in a week. Bought some $US before we left home in April. But have needed to access money since.

However I still feel fortunate with the current rate as I recall being in a situation in 1993 when we needed significant US dollars. I could go back to check but, roughly, I think a Australian dollar was worth around 70 cents US at the time.

 

[>Apocalypto<]

Stopped out?

yep stopped was a couple above ent hit by the low... still like a long but going to wait for it to build.

 

[prawn_86]

yep stopped was a couple above ent hit by the low... still like a long but going to wait for it to build.

Yeh I think it is touch and go at the moment. Strong support around here, but it is looking like needs a decent consolidation before moving higher. As per above posts, daily close below 0.96 suggest look out below

 

[prawn_86]

Not looking healthy at the moment, its going to need something convincing to turn it around by the looks, where that will come from I don't know

 

[CanOz]

Not looking healthy at the moment, its going to need something convincing to turn it around by the looks, where that will come from I don't know

DB on the 15 min chart Prawn...just coming out of a wedge too..

 

[beachlife]

Thanks for the heads up Can. I thought you might be interested in a different perspective. I didnt see a double bottom pattern, it had too many peaks in between the bottoms and the main peak was not in the middle of the bottoms, and in any case it was a long way from confirming, but I thought many would trade it, which it seems they did. I thought I would check when the US woke up and see if the big boys would come in and trigger their stops. I saw the bars on the 15min chart had hit the MA, so I switched to a 2 min chart and took the short signal the system I am testing gave, and let it run with a trailing stop for a profit of around 3 times risk. The trailing stop didnt trigger but I exited when price jumped back over the MA. No vol, no DOM, no Tick charts, no patterns, just a moving average and a trailing stop while watching TV. (The other market that I am testing on also picked up 50 points at the same time) It's early days and usual disclaimers apply. Just thought you might be interested.

 

[prawn_86]

haha as soon as my call was made public I knew we wouldn't get a rally I was expecting

Next downside target around the 0.9370 mark

 

[VSntchr]

haha as soon as my call was made public I knew we wouldn't get a rally I was expecting

Next downside target around the 0.9370 mark

If you don't mind me asking Prawn, are you trading currency? Or just interested/posting due to your work involvement?