AUD/USD: Tough to trade at moment; safest trade is to buy really big dips

I really have no idea whether to buy or sell at current levels near .9570; the overall AUD trend remains bearish on most of the crosses but AUD/USD has fallen 10 big figures in a little over a month and will soon come up for air. Many of those who were bullish at 1.04 are now going short, a sure sign that a base is nigh!

I think the safest play is to keep powder very dry and look to buy any big exhaustive dips in expectation of a retracement towards .98 cents.

  1. Hey Sean,

    Not sure if we make it back above 0.97 but will definitely short 0.98 hopefully we have cleaned out all the stops below 0.9580 and now head higher . New York will tell today. Just bought a small position at 0.9527. Thanks

  2. Hi, Sean, AUDUSD almost creative fresh new low everyday. I buy dips for several times and have to close them shortly. Where will it go from here? 0.9387? 0.9918?……Thank you!

  3. How’d you go in USD/JPY yesterday, did u sell at 102.50? Like I said, really no strong s/t conviction on AUD/USD but I do know that I want to buy big dips if they happen.

  4. Ha, I forgot to say that certainly short USDJPY according to your idea! ! But I am so timid that I closed it around 102……Thank you for your good idea!

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