AUD: The market is short, it’s August, and volumes are down….
That spells danger in my book. The big banks reported significantly lower volumes overnight and with the market already running at close to record shorts, what’s going to happen if they all try and exit together! If you’re short, keep those trailing stops tight would be my advice.
Hi Sean, you mean AUD might plunge big?
No Alec, the opposite
Thks Chngster, yes the opposite Alec. The market is short, liquidity is reducing, so if something ‘bulllish’ happens for AUD then it will scream higher. Maybe not today but worth keeping in mind.
Hi Sean,
I’m wondering if the surprise might just be that rates are kept on hold.
I’ve got a ‘flag’ pattern on my 4hr chart.
Looking for either a bear or bull break here.
Thanks for the info sean. Aud reminds me of how gbp traded at 1.49 before it traded 300 pips higher.
Agree, have feeling its about to move quite sharply, but up or down is big question??
Guess we got to watch the crosses for clues?