There's always been a correlation between certain commodities and the AUD.. and crosses with other currencies are arbed-out within microseconds so I don't see any predictive utility in them.

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I bet this chart from the RBA sent a few shivers down spines If investors overseas wake up to just how rooted our commercial property sector is then it will help AUD drop Short term though the VIX is still under control and equity markets maintain ...

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I agree with the chart in principle, however we may not have topped-out yet. Lowe's speech was not hawkish, hence the profit taking we are seeing today. If any news comes out and smells good we may see retest of 90+ before going down again.

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Good luck & goodnight

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100 pip retrace doesn't seem likely with the market like this. I will however consider closing the position tonight as there is a lot of US data being released tomorrow.

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Yes but I am also scalping.. SL is 25 pips from BE. Although admittedly my account margin ratio is fairly low. Also the long-term trend is down but weekly trend is up. I'll be a bear again soon.

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OK what is your rationale for the Dow to drop?

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Sounds like scalping to me.. the only time anyone should go countertrend.

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Your conservative SL is wise, you could probably pick up a little profit if it goes closer to 90 again.. however there is some resistance there (?)

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Hmm yeah it's not doing much at all! Take $60 profit? Oh I'm shaking it baby

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Long 3 lots @ 90019, SL 8975, TP 9045

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I know Never tried other charts as I am too lazy and most of my technical analysis is done by hand, or using some custom tools. The API could be better but IB have probably one of the best fee structures so I stuck with them.

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Nicely-shaped bull flag at 9000, where resistance has been turned into support. Next stop 9050? image

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Yeah also what is this idea of going against the trend? It's the oldest rule in the book.

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I agree, they would not want the currency much stronger.

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It's going to be difficult to pick the top. Let's see if it runs out of steam above 90. If it is still 90+ after the RBA meeting, assuming a hike in March, it will get to 92 easily IMO. Would take 2 weeks to get there though.

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From a fundamental viewpoint, we will need some bad news before AUD can resume a sustained downtrend. In the meantime any moves down are just noise and there is a slow creep up. Nervousness may begin around 9000 where bulls are confronted with a ...

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OMG you are freaking me out, I just happened to be listening to that very song a minute ago. Swear 2 God!

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But DayTrader you used to shake it until it fell off!

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Yeah this market is going nowhere fast I'm still waiting to shake the money tree

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