Comments on: AUD/USD: Looking for new trading range .9000/.9250

By: James

James — Mon, 01 Jul 2013 02:34:06 +0000

The long term price performance of gold that is catching my attention

http://supercyclebear.blogspot.com.au/2013/06/interesting-relationships-being-hit-in.html

By: Sean Lee

Sean Lee — Mon, 01 Jul 2013 01:10:06 +0000

Hi Gus, lot depends on next few hours but I still prefer the long side at these levels. The bears have obviously no need to panic just yet, but the short-term mkt is short so I’m much more comfortable being long at moment

By: gus

gus — Mon, 01 Jul 2013 00:56:35 +0000

Hi Sean, still stubbornly holding my AUD long. Seems foolhardy, I know but I still have a profitable AUDCAD long that covers the loss so far. But I won’t take another AUD long at this point, like you, preferring to wait a few hours to see what happens. I suppose the next major support for AUD after 9150 broke is 9100 and then 9000? Do you think it is more likely to hit 9350 or 9000 first?

By: Sean Lee

Sean Lee — Mon, 01 Jul 2013 00:24:54 +0000

Understood, doesn’t seem like much in the greater scheme. But no real immediate impact as you say

By: James

James — Mon, 01 Jul 2013 00:19:13 +0000

OK thanks.

I didn’t express the IMF info properly. Apparently the AUD and CAD reserves of the world’s central banks used to be reported together (under the heading “Other Currencies”). They now have their own line item and were only USD$98 billion for the AUD reserves of central banks around the world – which was a surprise for some. Seems interesting for its own sake – but not for portending any particular action in the markets.

By: Sean Lee

Sean Lee — Sun, 30 Jun 2013 23:49:40 +0000

Agree on Gold James, but need to be patient and willing to miss bottom by few %. The NZD is starting to find demand during Asian session again and even though overseas speccys are still selling, it does look like it wants to base. Sorry no strong view re IMF, but I hope they need to buy some A$ 🙂
Price action was very bearish Friuday afternoon but that might be to do with big flows, need to wait a few sessions

By: James

James — Sun, 30 Jun 2013 23:43:59 +0000

Morning Sean, Missed your updates on Friday to my cost. Stopped out of medium term longs on AUD. Falling knife still. On that front I note the IMF announced Friday to separate CB holdings of CAD and AUD (unbundling them from previous reports). Apparently the USD$98 odd billion was a lot less than expected. Views?

I am also intrigued by the price action in the PMs. I am waiting for gold to show signs of capitulative lows which may be in the process of finding.

By: Sean Lee

Sean Lee — Sun, 30 Jun 2013 22:08:34 +0000

I like this trade idea Serga, good luck

By: SergaNet

SergaNet — Sun, 30 Jun 2013 22:07:43 +0000

Good morning, Sean! I started building long positions in NZD, I think that the kiwi on the threshold of a reversal. Good luck to you!