AUD/USD: Strong resistance expected at .9325

I know that I’m boring you to tears with my bullish AUD/USD story but I think this market is way overly bearish and way oversold. Nevertheless we must keep good order and accept that the bears are still in control of this market. Next resistance is at prior lows near .9325 but I did note that FXWW888 referred to large trailing stops around that level.

  1. Right with you on the aussie train Sean. Signs of reversal can be seen in AUDJPY and EURAUD. It’s only a matter of time until we’ll see the bears getting squeezed through the exit. I wonder how fast the specs can get out and how aggressive the rally will be.

  2. Good evening, Sean! Thank you very much for your cable and Aussie trading idea! As to cable, how about keep yesterday’s long position, short near 1.5485-1.5530, add long position at 1.53, and long EURGBP at current level to 0.8560 and change to sell? Thank you!

    1. Hi, Sean, Very sorry for my poor English, I means that, could we trade some swings in cable and EURGBP? or just trade long only in cable and short only in EURGBP? Which is more safer? Hehe……Thank you!

    1. Could very well be a smooth sailing , but my reasoning is that someone out there is sitting on large profits since they shorted along the way, and they’re not going to be very happy when this goes north. Not to mention that usually in reversals there are always the ones caught on the wrong side who mistakenly take the new move as another opportunity to short. It will be interesting to watch though 🙂

  3. Hi Sean,
    Don’t be worried about being boring. Some of us need to be told numerous times for the message to get through! Bought on the break of 0.9240 this morning and am holding now, with stops 0.9120.

  4. Ok gotcha now Yue, and believe me your English is a hell of a lot better than my Chinese. Yes definitely stay in swing trade mode in both pairs but I’d say to keep the bullish GBP bias ie if going short cable, wait for very extreme levels and take quick 100 pips off the table. That’s how I see it

  5. Yue, in the unusual event of a 250/300 pip moves, I always think its pretty safe to enter the market in the other direction. Moves seldom keep right on going and will usually stop for a breather (JPY crosses excepted 🙂 )

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