I've closed out my weak longs(Longs taken above 0350) and still holding on to my longs taken at better spots. Will add some more after a pullback which I think will finally come. It seems that the pullback is finally getting some momentum.

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Not really expecting a full out massacre but definitely expecting weak longs to be taken out. Possibly about 35ish would be a good spot for me.

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Wow the numbers aren't that bad, particularly building approvals. Hell, even Japanese numbers beat my expectations. Will the Aussie ever pullback at this rate? Hopefully what you guys say is correct and that it is a bull trap.

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Finally it is attempting to retrace but will it follow through?

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Oh he will come down oh right, probably to swap out for another mode of transportation instead of a balloon.

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On a side note, weakness in correlated assets will probably not dent the AUD strength given how correlation have broken down. It would be safer to bet on Jap/Aus numbers released tomorrow to help the bears

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The AUD is a good place to put your money in, there is no doubt about that. It will get even stronger when big boys are withdrawing funds from Europe and looking for alternative areas to put their money in. It has little exposure to Europe with ...

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Germany are against it and will still be against it. Looking at it from a political perspective the smart move for Merkel to play is to leave the decision of bailing them out full scale to a referendum. So no confirmations there.

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The EUR/AUD short trade seems good today, threatening to make new lows. Hope some of you caught that train while the AUD/USD gets a train maintenance.

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Anytime. The final destination for the AUD on my map is still north. It just depends on how many stations and detours there are on the way.

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As usual. The markets seem to be ranging today though with no clear direction or driving factor...yet. It could go anywhere today which frankly doesn't matter to me given my trading TFs(weeks to months) We should be looking at the ...

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You bonehead! But seriously, I feel you. I'm sure traders will go through that process at least once, what matters is you learn. Take a break, smoke a cigar, get some scotch and take some time off to clear your mind. Recondition your mental ...

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How much are you planning on trading with? Depending on the amount I would recommend just going to the prime brokers(CitiFX, Interactive Brokers etc)

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So...Who got burnt today?

EURUSD

I will be 1 happy bull but is a retracement all the way below parity again really that possible from a technical POV? I've scaled a large amount of AUD/USD longs right now.

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My guess is.. Market movers right now are still split between moving their money to safe haven assets and higher yield assets like the AUD. So it doesn't happen right away, there are some conflicting movements of money happening right now. One from ...

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I guess my meaning of tank is kind of confusing here. By tank I mean be able to withstand the hits, which means it'll probably be able to withstand the bear attacks. @Payal that was the fundamental reason I have been buying up AUD after the turn. I ...

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If history is a past indicator, the AUD will slip but not a total retrace to channel. It will probably tank just like the previous ESM rumors on 29th June. Remember we still have hot money moving into the AUD to take advantage of the interest rate. ...

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I've hedged a little bit of my long AUD/USD positions taken above 0380 with the long EUR/AUD trade. Got a bit impatient by adding those position at a less than ideal spot. Will add another long at 0350ish.

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Hopium is such a rare drug in these turbulent times that when you get hold of it you feel the effect multifold.

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