AUD,NZD/Flows and Orders

AUD/USD: Session outlook, favour selling rallies to 1.0480

     As you can see on the attached 4-hour chart, this pair is on a very slow up-trend which is seriously lacking in momentum. Sell orders are reportedly starting at 1.0450 and getting heavier near 1.0480, and I will wait for the latter level before selling. I remain bearish on a slightly longer-term view, as I think the top-end of the weekly wedge, which is now near 1.0600, should again prove to be solid resistance. In the meantime, a broad 1.0350/1.0500 should cover most eventualities.

  1. This pair was monumental loss of time for me last week. Left short position open on Friday and what do we have today? +20 pips since then… Oh well let’s continue to short rallies and may be it will become less lethargic in days ahead… and hopefully on the downside…
    Cheers

    1. > I am cool, I have cut my position by 2/3 last Thursday around 1.0385, so I am waiting for rallies to rebuild it…. But I am starting to get a strange feeling: it feels fundamentally wrong to short rising price…. will give it another week or two, hopefully my logic is not totally flowed.

  2. Hi Sean, I know NZD is on your black list, what do you think about buying dips for today? I’m guessing there should be plenty of buy orders around 0.8153 down to 0.8123. TP target is 20 to 30 pips.

  3. Don’t seem to agree Sean. the weekly wedge which you mentioned might come into play once we come close to 1.0480 area. so we take out 1.0480-1.0520 also

  4. I understand your feelings very well Kirill but isn’t that usually when markets turn? When the bears finally give up that’s the most likely time to fall? Well that’s my hope at least 🙂

  5. Regarding $ figures on order flows: why don’t you just report the figures. People who are interested, can collate the figures themselves!

  6. Certainly will when I hear them Raheem but unless its an actual visible order on one of the interbank broking platforms, then tricky getting banks to disclose actual amounts, even to their friends and family 🙂

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