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

Economic Calendar for Week of 3/7

Economic Calendar for Week of 3/7

Well Fellow Traders, there has been a good significant change on the Open Interest for the Australian Dollar Futures contract. Only time will tell if this drop in open interest is a start of a move to the sell side

I have been running some projections and for the life of me I can't seem to figure out why the A/U is still down here.
I have 2 open longer term projections that show this pair needs (read, should be headed) to get to 1.0230, than head back to around 1.02 and then be on its way up to 1.0330-1.0350.
For some reason this has just stalled out.
What are your thoughts/projections.

Originally Posted by NHAppraiser

I have been running some projections and for the life of me I can't seem to figure out why the A/U is still down here.
I have 2 open longer term projections that show this pair needs (read, should be headed) to get to 1.0230, than head back to around 1.02 and then be on its way up to 1.0330-1.0350.
For some reason this has just stalled out.
What are your thoughts/projections.

Well Shanon that's the 1 mill question at this moment.
Let's se what happend in the past to make a projection in the future.
We did have a breakout from that bullish triangle that i was talking about.
Breakout was a succes but it tourned in 1v-5v projrction.
Now this 1v-5v could be an A,B,C if 5V projection for the downside is goona faill if not then we go down around 1,000.If 5v Projection faill then around 1,0330 and we are looking to an A,B,C.
I did post a 4H Chart for you so that you can se what i am looking att.
Aniway the 15 m Chart showes that we are in 3V down to compleat at 1,0040.Attachment 82886

Originally Posted by Mozart

Well Shanon that's the 1 mill question at this moment.
Let's se what happend in the past to make a projection in the future.
We did have a breakout from that bullish triangle that i was talking about.
Breakout was a succes but it tourned in 1v-5v projrction.
Now this 1v-5v could be an A,B,C if 5V projection for the downside is goona faill if not then we go down around 1,000.If 5v Projection faill then around 1,0330 and we are looking to an A,B,C.
I did post a 4H Chart for you so that you can se what i am looking att.
Aniway the 15 m Chart showes that we are in 3V down to compleat at 1,0040.Attachment 82886

Thanks for the chart and the answer. I have this going down to a minimum of 1.0070 and maybe a bit lower for the short term. I think that if it goes lower than 1.0040 than we will definitely see 1.0000. I keep getting tripped up on this pair.

Originally Posted by NHAppraiser

Thanks for the chart and the answer. I have this going down to a minimum of 1.0070 and maybe a bit lower for the short term. I think that if it goes lower than 1.0040 than we will definitely see 1.0000. I keep getting tripped up on this pair.

You welkome.
It's always dificult to trade.This is hard bussines but very $$$...

I did a small scalp for 87 -80 and then I am sidelined on this pair until I see something else.
Too bad I exited early as I see it went down to 1.0052.
It is getting close to your number now.

Originally Posted by NHAppraiser

I did a small scalp for 87 -80 and then I am sidelined on this pair until I see something else.
Too bad I exited early as I see it went down to 1.0052.
It is getting close to your number now.

Im out too.Waityng for pull back and then back again...

Edit:estimated pull back from this poit 1,0083-1,0098

This NZD/USD 4-hour chart shows how the use of a simple trend line can frame the market activity to the point where the trading opportunities can just leap off of the chart. This market is in a downtrend, so we want to look for selling opportunities. A classic sell is a rally up to resistance when the market is in a downtrend. The trendline has been offering resistance and we can see where the market moves up to test it, but reverses back to the direction of the trend. Many traders just sell near resistance and then place their protective stop above resistance. Their exit could then be based on the risk. We recommend using a 1:2 risk:reward ratio, so if you risk 50 pips, look for 100 pips in profit. What could change this? Tomorrow (Wednesday) at about 300PM Eastern, the Reserve Bank of New Zealand will announce their decision on interest rates. Fundamentals don't care about the technicals, so a quick look at an economic calendar can reduce the number of surprises.

You can find more on that in the DailyFX Trading Course as Support and Resistance is a complete lesson on it's own. You can find the course at this link:

DailyFX Trading Course

The login is the same used to access your live FXCM account. Access is free for all live clients. If you are not yet an FXCM client, email us here at instructor@dailyfx.com and we can set you up with temporary access so you can see the type of resources we offer our live account holders.

Originally Posted by AyoBro

Update..........

Update............

Hello AyoBro,

Can you explain what I'm looking at here?
I'm not sure how to read what you're trying to show.

Thanks.

Now this is or an A,B,C corection or it is modifying 5v projection to the down side...

EDit: and that means that 5v projection to the other side on the 4H chart could fail and we goona go upp again to 1,0200 area.....hhmmm.....

I think this should be headed to 1.0120 soon but I can't be sure.
My charts are showing me 2 directions. 1 WAY up and the other down to about 1.0000.
This appears to be "rounding" as I call it based on a 1 hour chart pulled back.
You are seeing this go higher though, correct?

Originally Posted by NHAppraiser

I think this should be headed to 1.0120 soon but I can't be sure.
My charts are showing me 2 directions. 1 WAY up and the other down to about 1.0000.
This appears to be "rounding" as I call it based on a 1 hour chart pulled back.
You are seeing this go higher though, correct?

Well i dodnt know just yet.As i just said could be A,B,C or modifying 5V projection to the down side...