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AUD

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The AUD is at an interesting juncture at the moment. Has it completed the larger correction already? Time wise it looks balanced but the currency has failed to reach the typical area for the corrective move. It has now retraced to within the typical area for the wave (B) so providing it doesn't slip too much further it may have one more go at the $0.80 - $0.85 region. I am waiting for a bullish candle to form for a buy set up. If this will not occur and it slips further then it may now fall away quickly. Still favouring the one last poke up at the $0.80 - $0.85 region before it falls over and declines again.
 

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Stormin_Norman said:
that happened to me monday morning! exactly the same thing! the initial 'wahoo!' is quickly replaced by cursing and desk hitting.
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Bah humbug I say.

Just goes to show, if you are gonna leave the trade open intraday then you may as well keep your initial stop at a loss rather than trying to protect profit until major corrections are over or you can sit and monitor the trade.

I would normally sit and keep an eye out as I am fairly nocturnal but had a shift today at 7am!

Trying to re-enter now, doing badly
 
what's going to drive the AUD back up to 80+ ?

the only thing i could see doing it is USD weakness. commodities dont look like theyre recovering just yet.
 
Stormin_Norman said:
what's going to drive the AUD back up to 80+ ?

the only thing i could see doing it is USD weakness. commodities dont look like theyre recovering just yet.
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I'm still going for 59c (1.69 reverse) as the trend is well set now. Speculators are on this one now and there is little hope in the first half of 2009, me thinks.
 
I think a very short term spike up to maybe .68 could happen in the next 24hrs, but then I the trend down continues. I see .59 before I see .80.

Equities are driving the dollar, so follow the market direction and you should do pretty well.

I've been short since the start of the year, so I'll stay short and look to add to my position once we get closer to .68.
 
AUD down to USD.6576 atm. No surprise with RBA informing the market today that it sold off AUS1.1 Billion over December! So now they will let it drift another few cents lower before jumping back in and buying up again, creating "demand" for the AUD again - take it up a few cents then dump it again.

Classic "pump 'n dump" strategy as favoured by crime syndicates? If I tried that with a stock, I'd be in trouble with ASIC!

I'd better take my Cynical Pill. It's overdue....


aj
 
Didn't think I should start a thread with a question this basic but can someone help?
We have been planning a trip to the States for nearly a year now but with the Aussie dollar in freefall is there anyway I can lock in the Aus$/US$ at the current rate before it gets even lower (we are planning to go in July/August).
Someone told me it's possible to buy US$ from a broker that will be earning interest in a US bank account that we can access later but I don't really know how to go about this.
Anyone?

cheers

Tim
 
u can make a trade now. which will effectively hedge any difference between now and your trip.

what you would make (or lose) on the trade would effectively equal what you would lose (or gain) in exchange rate changes between now and then.

ie u bet the AUD will lose value against the USD. if it does lose value youll profit on the trade.

those profits + your original AUD money = same USD as today.

and vice versa.
 


exactly Norm --- and u'll probably get a damn site better rate from a bucket shop than u'll get from yr local post office or airport !!!!
 
Page said:
For AUD I do not have any news.
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Well, it's old news now... but on thursday I reckoned it was about to bottom and took a little position to let run the course, which I was thinking should go to a new recent high.

Been trying to catch some of the swings with a bigger position.

Last week was my first week live trading after doing about a month on demo acc.

After hearing some 'economic' forecasts re the AUD while I was out I was keen to get home to have another look at the charts... but all's ok, it pretty much behaved as expected today.

But, I'm thinking I should move the stop up for this little lot, or alternatively dial in a take profit... but where too! What do you experts do?
 

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Looking like a bit of a bottom.

Added a bit more to long at 6696, stop 6680... and going to sleep on it.
 
Aussie Dollar!

Hi All, I was wondering if anyone can tell me how the dollar is set against other currencies.

And if it is not obvious in the explanation, why the US dollar seems to have crept up so high against us again, and is continuing to move up against the Aussie.
 
Whiskers said:
Looking like a bit of a bottom.

Added a bit more to long at 6696, stop 6680... and going to sleep on it.
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Shorts are still a hold and longs for scalping imo. At least 75pb cut coming in Feb, and more to follow. Commodities bearish too. Fundamentals point down for the AUD, but if we see an Obama rally, equities could provide a short term spike up. I'm happy holding a short position.
 

Another way to do this would be to pay as many expenses now as you can...i.e. accommodation, domestic flights, go to Travelex and buy some USD
 
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