I was stopped out on that pair at -100 pips. I had two chances to close out with 40 pips but didnt. There was a break of a longterm support line that led me to believe there was more down side in the future. It's my opinion that the latest developments from China have caused Aud to come crashing down and therefore reverse the direction of the trade. There's a short term resistance trend line that was broken on the assault northwards so I would get out. I think that since tomorrow is Friday that stocks will sell off. I dont see traders buying bargain stocks on a friday. Eur/aud could continue north.
Originally Posted by dharminpdesai
My take is the same as it was this morning...this pair should be sideways...range trading should offer you cut your losses....
AUD/NZD may be about to top out in the near term and head lower.
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I was stopped out on that pair at -100 pips. I had two chances to close out with 40 pips but didnt. There was a break of a longterm support line that led me to believe there was more down side in the future. It's my opinion that the latest developments from China have caused Aud to come crashing down and therefore reverse the direction of the trade. There's a short term resistance trend line that was broken on the assault northwards so I would get out. I think that since tomorrow is Friday that stocks will sell off. I dont see traders buying bargain stocks on a friday. Eur/aud could continue north.
Stuff happens my friend...wait for a nice breakout on GBP or AUD majors (or crosses this week) very soon...I will post it on this forum, if i see anything.
Stuff happens my friend...wait for a nice breakout on GBP or AUD majors (or crosses this week) very soon...I will post it on this forum, if i see anything.
Happy trading
Dharmin
dharminpdesai, looking like NZD/USD could break lower soon out of this consolidation. See if it breaks below the triangular sideways move in the coming hours to day or so.
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btw, I notice in the platform that the rollover b and s for AUD/JPY is 0 - 0.. how is that possible?
Here's a doc that will help explain how rollover works.
The recent downtrend is statistically more likely to continue than to reverse.
We should know soon as the pair breaks the consolidation.
The DailyFX Forums have over 75,000 members, and many discussions going on at once. If you arent sure where to get started, watch this video as your how-to guide to the DailyFX Forums: http://forexforums.dailyfx.com/daily...ion-video.html
Email me with your questions and Ill introduce you to the community and point you in the right direction. I look forward to hearing from you.
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The DailyFX Forums have over 75,000 members, and many discussions going on at once. If you arent sure where to get started, watch this video as your how-to guide to the DailyFX Forums: http://forexforums.dailyfx.com/daily...ion-video.html
Email me with your questions and Ill introduce you to the community and point you in the right direction. I look forward to hearing from you.
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AUD/CHF 15 minute chart....coiling up in a triangle pattern a-b-c-d-e pattern...nearing a breakout point soon.
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In the last quarter house prices went up on average $75,000........to a record median price of $540,500........so I am living in a tent....LOL.(not really). Rates to go up Feb 2 (next week)
The AUD reached 89.something on the 21st Jan (5 days later now) - and as the news of China settles - and it should because to stymie 16% growth is wise - so the actions of the Chinese govt should be welcomed.
My guess is - AUD to rise.
Company reporting in Australia starts Wednesday.
Well its Australia Day - the day Aboriginals despise and with good reason too.
The DailyFX Forums have over 75,000 members, and many discussions going on at once. If you arent sure where to get started, watch this video as your how-to guide to the DailyFX Forums: http://forexforums.dailyfx.com/daily...ion-video.html
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The DailyFX Forums have over 75,000 members, and many discussions going on at once. If you arent sure where to get started, watch this video as your how-to guide to the DailyFX Forums: http://forexforums.dailyfx.com/daily...ion-video.html
Email me with your questions and Ill introduce you to the community and point you in the right direction. I look forward to hearing from you.
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dharminpdesai, looking like NZD/USD could break lower soon out of this consolidation. See if it breaks below the triangular sideways move in the coming hours to day or so.
Thanks my friend!
I am also watching AUD/NZD pair and it looks like NZD is about to weaken a bit (pair is at the resistance level of the channel) on a daily. Important pattern to watch
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Originally Posted by dharminpdesai 
