AUD,NZD/Flows and Orders/FXWW News

AUD/USD: .9250/60 should be important short-term pivot

This is the level where the big hedge funds were selling though Goldman Sachs yesterday afternoon. If the bears can hold this level then we could get a short-term top and another tilt lower at .9165. If we break above .9270 say, then I’d expect to see more trailing stops going off and we get a new support level forming.

  1. Hi Sean, I’m still hold long AUDUSD from 0.9250, and when it turn to lower I didn’t close instead of that I buy again at 0.917, but this been close at 0.924 already, and I’m also hold the EURAUD short, so would you think a bit risky to hold this 2 pair AUD long?Thanks

  2. Bit risky for sure Jack, especially over the weekend? I always reduce large positions over the weekend and I can honestly say that this approach has only cost me money once in the last 7 years, plus I enjoy the w/e more. I can always re-enter the trade on Monday morning and usually near same level.

  3. I think if 9270 breaks on topside then you can leave trailing stop on AUD/USD longs maybe below 9215? If euraud holds weekly close below 14400 then we could se sell-off there, so maybe trailing stop there as well. At least you got in at good level, well done.

  4. Appreciated that, EURAUD I will look for it, I’m found out that it show same pattern with EURNOK(at 7.97 resistance,interesting!!),I will try to set the SL at 1.4420(above yesterday high), hope that didn’t show the fake breakout,have a good week end!!

  5. Hi Alec, I might be wrong guy to ask as I’m overall bullish but it does seem to be forming s/t base now at 9220? Remember that it has fallen from 106 in a straight line, that’s 15% nearly, it could go lower but easy money has been made

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