Comments on: AUD makes ground on crosses; stop-loss driven rather than any fundamental change https://fxww.com/aud-makes-ground-on-crosses-stop-loss-driven-rather-than-any-fundamental-change/ The Professional Source Wed, 26 Jun 2013 23:01:23 +0000 hourly 1 By: Sean Lee https://fxww.com/aud-makes-ground-on-crosses-stop-loss-driven-rather-than-any-fundamental-change/#comment-24016 Wed, 26 Jun 2013 23:01:23 +0000 http://381c099c8f.nxcli.net/?p=8961#comment-24016 Yes indeed James, sideways price action is certainly a bit concerning. No matter, I reduced overnight to much more comfortable position size so I’m happy to sit back now and let mkt decide if I’m right or wrong. I have a feeling that NZD will lead the way higher but as I’m usually the world’s worst NZD pundit, that might be a reverse indication 🙂

]]> By: James https://fxww.com/aud-makes-ground-on-crosses-stop-loss-driven-rather-than-any-fundamental-change/#comment-24011 Wed, 26 Jun 2013 22:44:12 +0000 http://381c099c8f.nxcli.net/?p=8961#comment-24011 Hi Sean, Cleared the decks on the rally overnight and now buying back in around .9275.

Thanks for your thoughts. Your level of confidence seemed to be waning a bit yesterday despite creeping positive price action. You seem more confident today even though that resistance anticipated above .9325 was solid.

The pair seems to be struggling given the positive developments (or end of really negative) aren’t producing positive price outcomes.

]]> By: slo87 https://fxww.com/aud-makes-ground-on-crosses-stop-loss-driven-rather-than-any-fundamental-change/#comment-24007 Wed, 26 Jun 2013 21:46:12 +0000 http://381c099c8f.nxcli.net/?p=8961#comment-24007 I was stopped out on my aud/jpy short from last night. I got in at 90.75 and had a stop at 91.14. It only reversed. Took another short at 90.88 and recouped my loss and made some little pocket change. I still think the 91.15/20-89.90 is the range to play right now until one of those levels has a clear, concise break.

]]> By: FxDrive https://fxww.com/aud-makes-ground-on-crosses-stop-loss-driven-rather-than-any-fundamental-change/#comment-24005 Wed, 26 Jun 2013 21:03:34 +0000 http://381c099c8f.nxcli.net/?p=8961#comment-24005 Morning Sean ( there:) ). Agree on stop loss hunting. Thanks to our friend FXWW888 for the heads up to stops in EURUSD below 1.30. Things are on the edge with both euro and cable at 62% retracements of last major leg higher. DXY is at 62% of the fall so next move is bound to be significant. I noticed the divergence from stocks which rallied on the taper relief yet the dollar hasn’t lost ground. We’ll see tomorrow after good batch of eco data. Still with you on the Aussie long side , commercials are still heavily loaded long. Have a great one !

]]>