Looks like longing Aussie is not a good proposition at all, Dr Roubini has spoken. Technically, there is not even a sign of reversal since the fall started earlier this month. url

AUD/USD

If we have an hourly close below round number .9 level, we might test further downside at .88 and .86 levels. If I want to long, I will wait for any sign of reversal.

AUD/USD

Entirely agreed. Confirmation candle is very important. H1 candle is critical, however H4 is preferred. I got killed off by unclosed gap many years back too when I first trade. Another newbie killer.

AUD/USD

Expected? Think you got it wrong. Data released was worst than forecasted. 6.9% vs 8.8%. Last month was 9%.

AUD/USD

Chinese data released over the weekend worsen. Gap down on opening? Most likely continuation of the downtrend.

AUD/USD

Excellent post and fully agree. There is really no such thing as oversold or overbought in forex. There is only trend or trend reversal. Wait for more indication for confirmation. I learnt the hardway believing in crappy oversold and overbought ...

AUD/USD

.9 is a round number support. If we have a candle close (at least a H4 close), we might even see lower levels.

AUD/USD

IMO, careful there. We haven seen the bottom yet. There are no indication or sign for a reversal. We might see lower levels since we broken several critical support levels yesterday and the day before.

AUD/USD

image Does this chart look bullish to you? I think not. We just broken several critical support levels. We are in bears territory.

AUD/USD

Careful unless you are scalping. As I always said, there are no such thing as oversold or overbought in forex. Especially those beeping indicators and signals which tells you to buy or sell in oversold or overbought zone. Just sharing my experience ...

AUD/USD

image Posted this yesterday. View remains and seems true. Below this critical level, we might see freefall actions to lower levels.

AUD/USD

image There wouldn't be much support after this level was decisively broken down. Coupled with poor Chinese data, reckon that this pair will continue to be bearish.

AUD/USD

Food for thought ...... Does the Chinese needs a lower AUD? url

AUD/USD

Apparently no jaw boning from Stevens, that is why the short term strength, nevertheless, the pair remains weak and breakable to the downside IMO.

AUD/USD

Positive Chinese numbers, yet this pair remains weak ..... tells a story .....

AUD/USD

Clearly can be seen that sentiment for this pair is to the downside. Later RBA governor might start his talking down tricks again.

AUD/USD

Better than expected GDP numbers, but the pair still resisted by .93. Looks like a bull trap at that level.

AUD/USD

One of the reason is that this pair exceeded its daily average, therefore its considered oversold. However, something I learnt in forex trading is that a pair can be oversold or overbought for an extended period of time. Therefore I threw that ...

AUD/USD

Europe is opening in a few hours time, they might join in the selling. Nevertheless, I have heard story that there was a change in the basis of calculating the unemployment rate, therefore caused the higher unemployment rate. Anybody can confirm ...

AUD/USD

He mentioned he is scalping. Thus he is trading possible retracement just like throwing a dice with low probability. For me, I wouldn't dare to long when looking at those long bearish candle. But its me.

AUD/USD