AUD,NZD/Flows and Orders/FXWW News/Trade Ideas

AUD/USD: Dumping my intraday longs

I’ve reduced my position back to my core longs and have taken a small profit on my intraday longs taken earlier today. A good source tells me that they bought a good chunk of AUD from .9260 through .9280 but as soon as they finished buying it came straight back in their face. He says the sellers came from plenty of different directions, usually a bearish sign in my view. It would not surprise me at all to see another spike lower later on so I’m taking the safety-first approach, after a tough week.

  1. I’m really not sure Lio. All I know is that I’m very tired after a tough week and I’m afraid of making stupid trading mistakes so best I stay small and nimble

  2. I fully 200% understant what you mean 🙂
    I will walk away and keep my 9330 stops target.

    Have a nice week-end and thanks for the week.

  3. Interesting Kailash, could have something to do with foreign investors entering the market for the new financial year? I hope your analysis is spot on 🙂

  4. I looked back to 1996 as far as my charts will go … 1996-2003 each July was down. 2004 was up, 2005 was down, 2006/07 was up, 2008 was down by 8 pips in a month range of 88 pips only (maybe this is wrong?) and 2009-2012 are all up … but i agree with the thinking on new qtr flows … but fin years are different in all countries and companies – its not always just the calendar year

  5. Hi Sean, not touching the antipodian currencies till next Australian rate cut decision. If no rate cut, buy AUDUSD with target 0.985; sell EURAUD targeting 1.31; buy NZDUSD targeting 0.828; sell EURNZD targeting 1.59. If rate cut, do nothing.

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