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

hello traders i think we might rally from this recent lows 180 to at least test 260-70 area plus i see a continued bullish div on macd on 1 hr time frame

Originally Posted by turmaz

hello traders i think we might rally from this recent lows 180 to at least test 260-70 area plus i see a continued bullish div on macd on 1 hr time frame

or 239-45 to be more cautious

Originally Posted by turmaz

or 239-45 to be more cautious

Could work if you get a break above 1.02 - going for 1.0225 but I need more pips to want to trade. Takes a lot of mental capacity to trade against the trend and 25 pips is not enough to compensate.

London session review and outlook May 4 - 2012
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)
azambrano@fxcm.com

Follow me on twitter: https://twitter.com/AlejandroDFX


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Where can I go to read it. I just see a lot of similarities to what happened in the U.S. when the housing bubble popped.


Alejandro; in regards to your CAD economics.

Originally Posted by Gregory McLeod

USD/CAD Rally Could Run out of Gas

Hello Traders, with all the attention given to Aussie and Kiwi, the USD/CAD stealth rally may reverse with a stronger Canadian Ivey PMI at 10:00 AM ET. Forecasts call for a drop in the PMI from 63.5 to 62.6. However, a pop to the upside above 63.5 could trigger risk on party for CAD$

The Ivey PMI came is weaker than expected sending the dollar higher versus the C$ breaking above R2 Daily Pivot

Originally Posted by Alejandro Zambrano

Did not that you where a contrarian trader Greg Do you think the daily trend will takes us back to 98 level??

Hey Alejandro, the Ivey PMI came out lower than the forecasts and lower than the previous number so USD/CAD got an extra turbo boost above R2 Daily Pivot.

Given that Bank of Canada Governor Carney talked about inflation pressures in the economy and the need to raise rates sooner than later, I was lead to believe that he may have some insights that were different than forecasts.

But alas, these are Funnymentals and price action at significant levels of support and resistance is indicator #1 for me.

As for the trend, the long term trend on the USD/CAD has been down for many years

Originally Posted by Gregory McLeod

Hey Alejandro, the Ivey PMI came out lower than the forecasts and lower than the previous number so USD/CAD got an extra turbo boost above R2 Daily Pivot.

Given that Bank of Canada Governor Carney talked about inflation pressures in the economy and the need to raise rates sooner than later, I was lead to believe that he may have some insights that were different than forecasts.

But alas, these are Funnymentals and price action at significant levels of support and resistance is indicator #1 for me.

As for the trend, the long term trend on the USD/CAD has been down for many years

its hard to believe that BoC will raise rates this year - or that any of the other central banks will do so either.
If the markets close down today we could be in for a big down day and a possible reversal Monday.
audusd sure looks like it wants to go below parity

Originally Posted by Mary R

its hard to believe that BoC will raise rates this year - or that any of the other central banks will do so either.
If the markets close down today we could be in for a big down day and a possible reversal Monday.
audusd sure looks like it wants to go below parity

Looks like a "Sell in May and Go Away". Full moon this Sunday could be very interesting.

What are your ideas for a reader poll?

Originally Posted by Alejandro Zambrano

London session review and outlook May 4 - 2012
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)
azambrano@fxcm.com

Follow me on twitter: https://twitter.com/AlejandroDFX


Joining DailyFX Forum is free and offers an extended range of features, including: Replying to other peoples' threads and receiving email notification of replies to posts and threads you specify. Click here to join.

excellent presentation thumbs up!

Originally Posted by Alejandro Zambrano

Could work if you get a break above 1.02 - going for 1.0225 but I need more pips to want to trade. Takes a lot of mental capacity to trade against the trend and 25 pips is not enough to compensate.

correct i used to be counter trend trader once for many years, now i use counter trend techniques to exit the trades, as for as this pair aussie is concerned it just did a 60 day break out with 20 day too, so my counter trend techniques says we may get a strong rally up, and on the shorter time frames i already seeing exhaustion and you notice another thing a consolidation "a flat consolidation" my counter trend techniques says this when after a steep decline as in this case you see a flat consolidation its time to change sides from bear to bull. another thing after every break outs there are quick reversals and in the chart you will notice my BB with 50,2 parameters has already over exhausted, cut short is i see a healthy reversal soon, that levels which were in my last post was very short term resistance for scalpers, today as per my counter trend techniques im long this pair @ 186, i expect a good rally up. who knowsss????

im targeting 90 pips risking 40 r/r 1:2 i think its okay R/R

Originally Posted by Gregory McLeod

What are your ideas for a reader poll?

Will USD close this year above parity against CAD and/or AUD?

- Above parity against CAD only.
- Above parity against AUD only.
- Above parity against both CAD and AUD.
- At or below parity against both CAD and AUD.

Originally Posted by Gregory McLeod

What are your ideas for a reader poll?

will the us dollar remain the sole world currency
or share the stage or be replaced by another currency

Originally Posted by turmaz

correct i used to be counter trend trader once for many years, now i use counter trend techniques to exit the trades, as for as this pair aussie is concerned it just did a 60 day break out with 20 day too, so my counter trend techniques says we may get a strong rally up, and on the shorter time frames i already seeing exhaustion and you notice another thing a consolidation "a flat consolidation" my counter trend techniques says this when after a steep decline as in this case you see a flat consolidation its time to change sides from bear to bull. another thing after every break outs there are quick reversals and in the chart you will notice my BB with 50,2 parameters has already over exhausted, cut short is i see a healthy reversal soon, that levels which were in my last post was very short term resistance for scalpers, today as per my counter trend techniques im long this pair @ 186, i expect a good rally up. who knowsss????

im targeting 90 pips risking 40 r/r 1:2 i think its okay R/R

Do you consider FIB in your "counter trend techniques" I see where 1.0125 would be 50% retrace from the 1.08 high. .382 is 0.995? I ask cause always willing to learn something.

Edit: From D1 chart. high -low. Numbers are close.


I think a break of the 50% FIB line means lower. But I would not rule out a bounce from there. See how it bounced around at the .618 before it broke way lower.