- Search Energy EXCH
- PA is King commented Jul 10, 2013
Well, given how price has stayed 20pips off the initial spike on news release...that doesn't bode well for longs. Also, GU and EU have been selling off the past couple of hours, so USD is getting back some of it's losses from earlier which also ...
Australia Labor Force
- PA is King commented Jul 10, 2013
I think you're spot on here. I believe everything is in the Price Action! Price Action will tell you the direction, news/speeches just get it moving that way.
Fed minutes suggest no immediate end to QE stimulus
- PA is King commented Jul 10, 2013
My charts say would could be going for 1.3200
Bernanke – what was so dovish about his Q&A?
- PA is King commented Jul 10, 2013
haha...this keeps getting better as e/u goes higher. Today's daily candle has basically wiped out the last 9 trading days! Glad I'm not short euro.
Bernanke – what was so dovish about his Q&A?
- PA is King commented Jul 10, 2013
That's my point...I find it funny that the e/u has rallied 250+ pips even though Draghi is keeping rates low for an extended time(and may even cut further) and the Eurozone data coming out is a lot worse than the US. But hey, that's forex for ...
Bernanke – what was so dovish about his Q&A?
- PA is King commented Jul 10, 2013
2 things are funny here : 1) Draghi said the same thing about the ECB keeping rates low for an "extended period of time," yet the market didn't drop 250pips on his comment or seems to have forgotten. And 2) Bernanke couldn't have picked a better ...
Bernanke – what was so dovish about his Q&A?
- PA is King commented Jul 10, 2013
Looks like we may have the start of some major trend changes on GU, EU, AU. Bernanke just derailed the $'s rally. We'll find out in the next few days, looks like some trendline are starting to break. Go back to April 4th on the E/U daily ...
Bernanke: Clarifying QE timeline may have averted confusion
- PA is King commented Jul 10, 2013
Saw this one coming...just about everyone on here thought "fake rally and sell after FOMC" right? Well, the market just fooled about 90% of the traders on here by going up! Always goes against the heard!
Minutes of the Federal Open Market Committee
- PA is King commented Jul 10, 2013
Yep, at this point you can make a case for price going either direction. So far this week it's up...but that can change, I'm just patiently waiting for the signals. Until then, it's long. It took 5 tries for AU to break through 9200...just have to ...
China Money Rate Drops to Six-Week Low as PBOC Avoids Draining
- PA is King commented Jul 10, 2013
Welcome to forex...trade price action, not news releases. Price often does the opposite to data releases. HappyTrading.
Japan consumer mood slips in June
- PA is King commented Jul 10, 2013
China data was bad tonight and Aussie data bad...yet AU keeps on climbing. JPY data was bad, yet JPY gets stronger. Just another day showing that data/fundamentals don't matter...Price action does.
Now that AU has broken through 9200, should see ...China Money Rate Drops to Six-Week Low as PBOC Avoids Draining
- PA is King commented Jul 9, 2013
I'm not condoning anyone's poor treatment of others on here. This was an AU thread to start with and that's what I'm commenting on. Just a nice little observation that we are currently in a 9140-9200 range...a close on either side should point us in ...
AUD/USD - Double Bottom Attempt
- PA is King commented Jul 9, 2013
Like it or not, the charts don't lie and long AU trade was good. We've had 2 solid days of buying...even with the USD strenght on EU and GU. If we get above 9200, 9300(9250 could be minor resisance) is a good target. I would say 100pips is good ...
AUD/USD - Double Bottom Attempt
- PA is King commented Jul 9, 2013
While I'm waiting for AU to take out the 9200 level and head for either 9250 or 9300...it's a good show to watch.
AUD/USD - Double Bottom Attempt
- PA is King commented Jul 9, 2013
I think the only thing you can really expect is the AU to keep going up since it didn't participate in today's selling.
Asmussen: ECB forward guidance goes beyond 12 months, euro falls
- PA is King commented Jul 9, 2013
I have to say, the AUD is quite resilent today. Not sure if it's setting up for a fall soon inline with the overall downtrend or if we really have found some type of double bottom at the 9040-50 area.
AUD/USD - Double Bottom Attempt
- PA is King commented Jul 9, 2013
Well, back to the orginal topic...while GU, EU, and EJ had a nice selloff today, the AU is only 25pips from it's high today. Standing pretty strong against the USD.
AUD/USD - Double Bottom Attempt
- PA is King commented Jul 9, 2013
Thank you BaitUp, I just meant I was wrong about e/u finding support at 1.2800 today. It's gone past that. But yes, E/U was stubborn above 1.3000, but once we got that close below, things have been nice to the downside. Happy Trading!
AUD/USD - Double Bottom Attempt
- PA is King commented Jul 9, 2013
Well, let me be the first to admit I was wrong before someone else kindly points it out to me.
This move a bit bigger than the 1.2800 I had for a support area. Hope some of you made good pips on it!AUD/USD - Double Bottom Attempt
- PA is King commented Jul 9, 2013
I could be completely wrong, but I don't see any reason for USD strength today..probably not tomorrow either. With the exception of GU due to bad news today. AU is up, EU and UJ are basically flat. UCad is down.
AUD/USD - Double Bottom Attempt