AUD,NZD

AUD: Bearish momentum picking up

There is no sign of any bounce in the AUD at all and there is a smell of a ‘big unwind’ in the air. I’d look for prices to start operating on a lower plane in AUD/USD, perhaps 1.0125/1.0325 or something like that whereas in the AUD crosses like EUR/AUD, we may even see a stronger trend ie when AUD/USD bottoms out, that’s the time to buy EUR/USD maybe?

  1. aussie is oversold. no doubt about that. there is no way rba are going to cut rates further. i am buyer in the aussie now. bought aud/usd @1.0225

    1. I think the aussie will touch around 1.017 before jumping back to about 1.032. More demand seems to gather around 1.017.

  2. Good morning Sean and all traders reading this,

    Regarding EURUSD, yesterday my long did work towards 1.295 as I expected.
    Today, the market seems to be turning around.

    On the link below is my wave analysis.
    http://imageshack.us/a/img703/7348/eurusdh.gif

    If we break the 1.289-1.288 level, I would say that it would be a strong signal that we have finished the correction within the correction and that we have started another leg down toward 1.27x at least.

    Note how well the 38.2% retracement from the top to the last bottom held at around 1.2945 yesterday. This will be my pivot point on the upside.

    I would therefore caution buying EURAUD today since I doubt the AUDUSD will fall much faster than EURUSD given all the fall that happened yesterday and tonight.

  3. had a couple of sessions but have to wait till november for main stuff; away in paris for 2 weeks from 20th.someone’s got to do it ! got a good chance to add to my AUDNZD yesterday..went down well to get me in below 1.2400…will watch that and obv am happy with GBPAUD….like EURAUD it’s broken through as I had mentioned and have raised stop to b/e. I am still long USDJPY (with the world ?), GBPJPY and EURCHF…..think the SNB and BOJ will get their way and feel we may see next legs this month

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