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Gotta watch AudUsd at the end of the hour chart. In 15 minutes. If we have good price action and equal hourly candle sizes this is a typical AudUsd bullish price action and it is a good buy signal. We'll see but it is looking good.
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USDJpy's daily move is not supported by volume or technicals
Hello traders! UsdJpy's move is not supported by volume or by technicals today. Careful, careful! This move from this morning seems susceptible to the SM unloading pretty soon some of their orders. Or just the usual up-move with no real volume holding it up, meaning the demand isn't really there but supply is.
I hate NzdUsd right now.
I moved my stop loss into profit area and what do you know, NzdUsd and NzdJpy both clipped it and came back down. So typical. You either swing trade for the big bucks or get out at 35-45 pips with Nzd on a short. It's the only way. More than 75 pips with Nzd is just about impossible to do on shorts right now.
Fx daily musings (Nov. 7th 2013)
It seems traders were just waiting for the slightet bad news to rip into Aud and the employment data wasn't good. Nzd got pulled with it but has already taken back some of the losses.
Nzd is very strong (so says Graem Wheeler as well not too long ago who is the head of RBNZ and incidentally has said he doesn't see room for intervention as of yet. Hint! Hint! Hint! So he must not be as worried as Stevens who has been quite a bit more communicative and verbal about the Aud's current rate. This lac…
Nzd is very strong (so says Graem Wheeler as well not too long ago who is the head of RBNZ and incidentally has said he doesn't see room for intervention as of yet. Hint! Hint! Hint! So he must not be as worried as Stevens who has been quite a bit more communicative and verbal about the Aud's current rate. This lac…
Bank of Australia's Gov. Stevens
So here is an article on Oct. 29th explaining how Stevens said that Aud was already unusually high. I am assuming Aud has reached the unusual height again at .9540. I cannot see it going any further. The RBA will put some serious road blocks if it does. Even if the employment data comes out well, Aud is destined to go lower (this all of course if the RBA is being honest and I think why not).
Mr Stevens also had words of caution for foreign exchange investors, saying the recent rise in the Austra…
Mr Stevens also had words of caution for foreign exchange investors, saying the recent rise in the Austra…
Market is going to have to give at some point
Well it seems something is going to have to give pretty soon. We can't have both NzdUsd bullishness with UsdJpy bullishness as well. Or AudUsd for that matter. One of the two is going to have to pull back and I still can't see Nzd and Aud pushing up any more.
Friday is very far away though with the rate Nzd and Aud are moving right now and with Aud's unemployment tonight. Wow! Could we have a big move pre-Friday? I think so. Why not?Levels are getting to be very extreme.
Friday is very far away though with the rate Nzd and Aud are moving right now and with Aud's unemployment tonight. Wow! Could we have a big move pre-Friday? I think so. Why not?Levels are getting to be very extreme.
Rba rate decision #3
The Rba's rhetoric is nothing more than that. The interpretation of 'uncomfortably high' could simply mean: 'Yes, it hurts but we accept the pain." Unless they actually come up with a way of lowering the uncomfortable Aud exchange rate, Aud is going up to parity with no problem.
BoJ Kuroda's Press conference Nov. 5th 2013
http://www.boj.or.jp/en/announcements/press/koen_2013/data/ko131105a1.pdf
Here is Kuroda's press conference today. He is really optimistic and in favor of the bank's QE. Today could get interesting with European open soon and then the US later.
Here is Kuroda's press conference today. He is really optimistic and in favor of the bank's QE. Today could get interesting with European open soon and then the US later.
RBA rate decision #2
I love central bankers' ways of wording things: "The Australian dollar is uncomfortably high". Or, "At some point in time in the future, the Australian dollar will be materially lower than it is today."
Let's see how far down Mr. Stevens can push the Aussie dollar just by using words. Not bad so far but yesterday we were up 75 pips so let's see if we come back down today.
Let's see how far down Mr. Stevens can push the Aussie dollar just by using words. Not bad so far but yesterday we were up 75 pips so let's see if we come back down today.
RBA rate decision
If Bank Governor Stevens really wants the Aud to be weaker, he is going to have to surprise us all and reduce the cash rate. It's as simple as that. If they don't reduce the cash rate, then all this talk from the RBA and RBNZ for that matter is just talk and they don't really care. Why? Because if they stick to their cash rate, Aud will surely reach .9750 in a hurry again, no problem. And according to Stevens this rate was not even explainable. So tonight is actually really big for the Fx market…