Thread: AUD/USD

Iron Ore at 3 month high @ $74/ton. This could be what's holding AUD above 0.76.

Originally Posted by ;

Iron Ore at 3 month high @ $74/ton. This could be what's holding AUD over 0.76.

Nope. . The DXY controls the AU as it controls most pairs.

Originally Posted by ;

quote Nope.. The DXY controls the AU just as it controls most pairs.

AU has its own mind, should you review the correlation diagr, you might find that AU keeps swapping and turning. AU is commodity heavy. It's one of the pair to exchange.

Originally Posted by ;

quote That was just a little bit of fun in the early hours, while the actual wave count could go like this: image Best for your transactions!

Do you have stops? Cause you will require a 50 point-wide stop for this particular trade to live.

Originally Posted by ;

quote do you have stops? Cause you may require a 50 point-wide cease for this trade to survive.

Moved stop loss to top of (two), possible target near 0.7579

Sold @ 0.7668 , tp: 0.76067

Hourly chart.
I see one more upside to around.7700 region before downmove.
Will track price action at .7700 region before I execute some shorts.

Cheers!

Again same opportunity
sold more @ 0.76690
TP: 76067

omg. It's going to pop up 40-60 points and also you fellas still shorting it.

Originally Posted by ;

Can anybody tell me why the USD awakened following a hike? Is not the reverse supposed to occur? Sure they have yet to be hitting their 2% target but the GDP growth is strong and feel trying to use inflation in isolation as a indior of economic health. Why the huge sell off? I am really confused

To utilize the language used by analysts, that the increase could be priced in. In other words, people already pushed the USD up before the announcement in hopes of a hike. Thus, when the hike was declared, it was the highest degree USD could visit due to the increase, hence those who began pushing the price upwards sold/took profit. As such, we have our very first selling pressure. The second selling pressure could be due to people who purchased after the announcement. This group of people feel that USD will rise following the announcement, and when the profit-taking from the prior buyers happens, they are caught with their pants down quite literally and consequently, this activates another round of selling.

That is my view why there was a sell-off. I could be right, could be incorrect. Just hope it provides you a view.

If you like my talk, you can find more here.

Thank you.