Thread: Discuss the AUD/USD, NZD/USD , USD/CAD and more

London session review and outlook January 25 - 2013

Review of markets covered in today's edition of Bulls vs. Bears: EUR/USD, GBP/USD, AUD/USD, FTSE100, S&P500, Gold, Brent Crude and WTI.



Regards

Alejandro Zambrano
Currency Strategist | DailyFX Forum (London)

Aerocom made Moderator

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Thank you
Alejandro and Greg

Originally Posted by Gregory McLeod

THE TAKEAWAY: The US Dollar has soared to a six-month high while the S&P 500 is showing signs of a looming downward reversal after a test of the 1500 figure.


US DOLLAR TECHNICAL ANALYSIS– Prices are testing resistance at 10170, marked by the intersection of a rising channel top set from mid-September and the 76.4% Fibonacci expansion. A break higher exposes the 100% level at 10248. Near-term trend line support is at 10086. A reversal below that aims for the 38.2% Fib retracement at 10066.

Hello Traders! What do you think of this analysis? Agree, Disagree?

Daily Chart - Created Using FXCM Marketscope 2.0

yes indeed we can retrace lower for a while then continue higher but if we are in bullish scenario the price should be well supported above 10.030 below this level then neglect the bullish move and wait for further convection thnx macloed , you are awesome

Originally Posted by jamilgaruty

yes indeed we can retrace lower for a while then continue higher but if we are in bullish scenario the price should be well supported above 10.030 below this level then neglect the bullish move and wait for further convection thnx macloed , you are awesome

The dollar hasn't moved much against aud - the main move has been against the japanese yen. Whatever the Fed says, their general pattern has been to try to avoid shocking the bond markets - they like to prepare the financial markets long before they change policy. So they might start talking about making changes in 2014

Good Morning Traders! I hope you had a wonderful and relaxing weekend. This last week of January will be chock full of potentially market moving economic data. The last day of the week will be the first Friday of the month of February. We all know what that means; the US January employment report (NFP)

Thanks for continuing to share your trades, ideas and charts last week and we look forward to more great stuff this week too!

Good luck in your trading and Happy Pipping!

Regards,

Greg McLeod
DailyFX Forum Moderator and Trader

For a more detailed Economic Calendar click here

Originally Posted by jamilgaruty

yes indeed we can retrace lower for a while then continue higher but if we are in bullish scenario the price should be well supported above 10.030 below this level then neglect the bullish move and wait for further convection thnx macloed , you are awesome

Originally Posted by Mary R

The dollar hasn't moved much against aud - the main move has been against the japanese yen. Whatever the Fed says, their general pattern has been to try to avoid shocking the bond markets - they like to prepare the financial markets long before they change policy. So they might start talking about making changes in 2014

Thank you for sharing your ideas and insights! The dollar is slowing gaining against certain currencies this morning. It is "Manic Monday" so sometimes the initial move today will be faded Tuesday as traders return from an extended 3-day weekend and Aussie traders return from holiday.

Bulls vs. Bears - The spread betting morning update January 28 - 2013
Daily Forex, Stock market indices and Commodity market update.

Main presentation




Regards

Alejandro Zambrano
Currency Strategist | DailyFX Forum (London)

$AUDUSD 30-Minute Chart Elliott Wave Count: Aussie Close to Short-Term Bottom?

AUD/NZD

Since June 2012 AUD/NZD has been trading lower which supports a mover lower to 1.24. The key level for this downtrend is 1.2650 and in the very short term price is approaching this level yet as long as price does not breakout above 1.2650 we should expect price to stall close to 1.26 and then move lower over the next few weeks.

A bullish breakout above 1.2650 will end the down trend and price would turn bullish and warrant a move to 1.28.

Daily time frame

US DURABLE GOODS ORDERS(DEC) ROSE 4.6% VS 2.0% EXPECTED AND REVISED TO 0.8% FROM 0.7%.

US: Durable Goods Orders tops forecast. Proxy for future investments climbs 0.2% versus forecasts for a 0.2% decline.

It's Time for the Lightning Round
Hello Traders! Currencies are poised to make a move at the opening of the US stock market.

How are you positioned? Tell us as we start our

Opening Bell Lightning Round!

Don't be shy, tell us the currency pair that you are either long, short or the level you are waiting for.

No need for a chart (unless you have the time). This is just a great way to get everyone to participate and get a sense about market sentiment through our forum sampling!

BTW: I am Long EURJPY at 122.35 target: "Infinity and Beyond" Not really, I am looking for the test of the April 11, 2011 high near 123.36

Have fun!

Greg McLeod
DailyFX Forum Moderator/Trader

SSI Details:


AUDUSD - The ratio of long to short positions in the AUDUSD stands at 2.18 as 69% of traders are long. Yesterday the ratio was 1.82; 65% of open positions were long. Long positions are 14.9% higher than yesterday and 95.7% above levels seen last week. Short positions are 3.9% lower than yesterday and 36.8% below levels seen last week. Open interest is 8.2% higher than yesterday and 16.5% above its monthly average. We use our SSI as a contrarian indicator to price action, and the fact that the majority of traders are long gives signal that the AUDUSD may continue lower. The trading crowd has grown further net-long from yesterday but unchanged since last week. The combination of current sentiment and recent changes gives a further bearish trading bias.

USDCAD - The ratio of long to short positions in the USDCAD stands at -1.32 as 43% of traders are long. Yesterday the ratio was -1.39; 42% of open positions were long. Long positions are 0.8% lower than yesterday and 18.1% below levels seen last week. Short positions are 5.6% lower than yesterday and 35.4% above levels seen last week. Open interest is 3.6% lower than yesterday and 1.0% above its monthly average. We use our SSI as a contrarian indicator to price action, and the fact that the majority of traders are short gives signal that the USDCAD may continue higher. The trading crowd has grown less net-short from yesterday but unchanged since last week. The combination of current sentiment and recent changes gives a further mixed trading bias.

NZDUSD - The ratio of long to short positions in the NZDUSD stands at -1.47 as 40% of traders are long. Yesterday the ratio was -1.81; 36% of open positions were long. Long positions are 9.9% higher than yesterday and 8.1% above levels seen last week. Short positions are 10.8% lower than yesterday and 16.2% below levels seen last week. Open interest is 3.4% lower than yesterday and 13.0% below its monthly average. We use our SSI as a contrarian indicator to price action, and the fact that the majority of traders are short gives signal that the NZDUSD may continue higher. The trading crowd has grown less net-short from yesterday and last week. The combination of current sentiment and recent changes gives a further mixed trading bias.

London session review and outlook January 28 - 2013

Review of markets covered in today's edition of Bulls vs. Bears: EUR/USD, GBP/USD, AUD/USD, FTSE100, S&P500, Gold, Brent Crude and WTI.



Regards

Alejandro Zambrano
Currency Strategist | DailyFX Forum (London)

well
i see here at the daily chart we have a DOJI at the support line from 9-2012 as you can see




i think we could see some rebound here
my first target is 1.05000

Originally Posted by fahmy313

well
i see here at the daily chart we have a DOJI at the support line from 9-2012 as you can see

i think we could see some rebound here
my first target is 1.05000

Hey fahmy. Good to see you back.......
I see a possible inverted HnS forming on the 1h chart. Target 1.0465. Watch for roll over at 1.0430 though.
Probably get sideways movement for next 12 hrs....