10 Responses

  1. Deano October 20, 2013 / 10:12 pm

    Hey Kong,
    Yep almost time to short the AUD. This rally is slowly running out of legs as the daily and 4Hr RSI’s are both overbought. Trouble is the AUD is showing the same price action as it did when it fell earlier this year – its using time and not price to reset with very little retracement action.
    I’m not yet seeing a signal from my system so I’m thinking it will take at look at 0.9700 and maybe the 50% fib at 0.9715 now that its closed above the daily 200ema. There is also a great confluence at 0.9706 with both the weekly 50 and 200 ema’s waiting here which will prove formidable resistance, and with the CPI on wednesday the direction will be clearer then. I suggest the CPI print will be below expectations so assuming nothing new from the US 0.9700-0.9720 could be a good place to short.
    The target on my AUDUSD long is 0.9697 which should be hit and on AUDCHF is 0.8867 which may need to be squared up early.
    Another option is AUDNZD short, as currently this is capped by the daily 50ema at 1.1409 and is tracking nicely along the downtrend channel. A weak CPI will send this south but at present has little momentum.

  2. ezyfx October 21, 2013 / 12:24 am

    I’m looking to short the aussie, but for now I’m long.

    • ezyfx October 21, 2013 / 12:39 am

      … I must admit that .9790 looks very probable now, especially with only one real news event for the Aussie this week… CPI on Wednesday.

  3. JSkogs October 21, 2013 / 1:11 am

    Yup. Maybe tomorrow or Tuesday. Short nzd since end of last week.

  4. Careydina October 21, 2013 / 9:23 pm

    Hey Kong,

    I’m no more focus in gbp/usd nowadays. Yes i’ve already entered aus/usd 2 short position hehe…

    • Forex Kong October 21, 2013 / 9:58 pm

      The damn U.S NFP report tomorrow still provides small risk event, but I’m also in the same trades you’ve mentioned with intital smaller orders….some 38 pips in the green in GBP/USD etc….

      Tomorrow could provide some “fireworks” on entries / positions here but wow……AUD is overbought , OVERBOUGHT no matter what!

      • Franky October 22, 2013 / 8:51 am

        And what about Today? Overbought even more? 🙂
        Holding AUD/JPY short positions already for 2 weeks….I guess market wants to hit my Stop Loss no matter how far I move it…. OK, one more short around 96.70, but after that…I give up…

        • Forex Kong October 22, 2013 / 9:35 am

          I hear you man…..as this is pushing to extremes. Yes “overbought” even more!

  5. Harold Cow C October 22, 2013 / 9:46 pm

    It is a real pity that I got converted to usd at 0.958 by dci. Aud has moved up 200 pips within a week.

    • Forex Kong October 22, 2013 / 9:56 pm


      I’d help you with a question Harold but I’m not sure what you mean?

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