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Gav's trading blog - Perseverance, Consistency, Confidence

Is it time now?...AUD/USD....uhm...

by Gav

So, I see something better, maybe something pleasant. We had weaker than expected employment condition in U.S. In addition, RBA maintains the possibility of further interest rate hike later. I am not into fundamental analysis, but the current condition seems to favor my still bullish view of Aussie dollar. Anyway, we are back to 0.92-ish now. In fact, my next trading target is somewhere around mid-93-ish level. Let' see how it goes. :-)

There is one thing to watch out...GOLD! This crap is still enjoying its diving session. :lol: . I mean, we might still need some time to see if GOLD is to rebound. This, of course, influences how Aussie and dollar perform.

Here is the....CHART!

Here is the....Trend Score! A weak uptrend might be a start of new uptrend, at the same time, it might be just a trap. let's see.

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Comments

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  1. jay
    Things are getting crazy man. Gold jumps off a small cliff, invites dip-buying before the mid-eights. The FX spot markets reject the NFP surprise as USD-bearish...for now... That is a very pretty pivot line on the AUDUSD chart. That line is hard to ignore. If it broke, then I would definitely buy on pullbacks and look for a retest of hights...as long as Gold was moving along a similar trajectory. Things are getting iffy...but was there ever a time when they weren't?
    1. Gav
      Yeah, in fact I was tempted to jump into Long position last Friday, an hour or two after NFP. But, GOLD stopped me. Maybe I am just a chicken trader. Let's see how it starts the week. Having said that, spot fx markets are not getting iffy, ...because they are always iffy. :lol:
  2. jay
    Things are getting crazy man. Gold jumps off a small cliff, invites dip-buying before the mid-eights. The FX spot markets reject the NFP surprise as USD-bearish...for now... That is a very pretty pivot line on the AUDUSD chart. That line is hard to ignore. If it broke, then I would definitely buy on pullbacks and look for a retest of hights...as long as Gold was moving along a similar trajectory. Things are getting iffy...but was there ever a time when they weren't?
    1. Gav
      Yeah, in fact I was tempted to jump into Long position last Friday, an hour or two after NFP. But, GOLD stopped me. Maybe I am just a chicken trader. Let's see how it starts the week. Having said that, spot fx markets are not getting iffy, ...because they are always iffy. :lol:
  3. Jay
    Touche brother.
  4. Jay
    Touche brother.

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