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

Hi,I am new here and I feel that audyen may come off from 81 level, does anyone have the same view.

We established a long position on Monday and the market is starting to move in our favor on Tuesday with the hourly chart putting in an inverse head & shoulders bottom. This could potentially act as a short-term catalyst for a more significant correction over the coming days, with daily studies only just now turning up from oversold territory. Look for a break above 2.1240 to confirm. POSITION: LONG @2.0980 FOR AN OPEN OBJECTIVE, REVISED STOP @2.0940.


All my best,

Joel

Second position on short position for hourly

Depending on how you feel about risk and the growth outlook, AUDCAD could be setting up to something interesting. At the top of an aggressive rally on the day, a short-term pull back would match up with a good collection of resistance around spot.

It seems worth a shot to me. A breakout, would probably be quickly tempered; so I'm not really looking in that direction should it go that way.

I'm currently Shorting Aussie and Kiwi against USD as explained the charts based on the 4H timeframe.

wondering if anyone else is doing the same ?

I've been Bearish on this pair since early August and although there were some reversal signs on 12th Aug, I decided to hold few of my Shorting Positions. However yesterday seemed to be the perfect time to Book Profits as I expect a Range Bound Consolidation for the pair now.

Although this pair is often overlooked in the Trader's circle, this is one of my favorite to look at.

Good luck to everyone.

I thought this might be interest to those who trade Aussie.

Thanks

Originally Posted by asherewt

I thought this might be interest to those who trade Aussie.

Thanks

Thanks, that is a very nice chart indeed. I had never looked at that before. Gold seems way overvalued to me. Sentiment towards gold is very bullish. sentiment towards the USD is extremely bearish. And the developed world is fighting deflation. It does not seem like a very good environment for GOLD.

i open short 0.66761.
should i wait for it to go back down?

I just thought some of you might be interested in this long term opportunity I'm currently looking at

Good luck.

Originally Posted by asherewt

I just thought some of you might be interested in this long term opportunity I'm currently looking at

Good luck.

What is that? AUD/USD and NZD/USD charted with RSI on the chart? If so, which one does the RSI track off of?

You might want to Zoom in for a better view. Its not RSI but AUDNZD.

Originally Posted by Sean Hyman

What is that? AUD/USD and NZD/USD charted with RSI on the chart? If so, which one does the RSI track off of?

Originally Posted by asherewt

You might want to Zoom in for a better view. Its not RSI but AUDNZD.

asherewt...Yeah, I clicked on it formerly and blew it up but still couldn't make it out.

Thanks for clarifying.

Here's what I see on AUD/NZD. Mildly bearish..but the big thing that stands out to me though is that they aren't that "divergent" in their economies.

Both have high rates, both have high inflation, both are recovering.

However, if you pair up a recovering economy with one that's still lagging behind a lot more, then you may have a steeper trend and more pips to be had. Just a thought.

See what you think.

Hey, check out my latest post on the Carry Trade Strategy section and let me know what you think: http://forexforums.dailyfx.com/carry...tml#post326099

Sorry Sean but I'll have to completely disagree with you here on AUDNZD.

I wouldnt comment much on this pair at this stage as I'm still waiting for the Optimal Entry Point, once I've done that I'll come back here and post further trade details.

Good luck with your Shorting Probabilities on this pair and thanks for taking time.

Cheers.

Originally Posted by Sean Hyman

asherewt...Yeah, I clicked on it formerly and blew it up but still couldn't make it out.

Thanks for clarifying.

Here's what I see on AUD/NZD. Mildly bearish..but the big thing that stands out to me though is that they aren't that "divergent" in their economies.

Both have high rates, both have high inflation, both are recovering.

However, if you pair up a recovering economy with one that's still lagging behind a lot more, then you may have a steeper trend and more pips to be had. Just a thought.

See what you think.