Hi there - I don't trade currency, but am looking to buy some more shares is aussie. Not sure which ones yet, so was thinking of locking in current NZD/AUD rates for now. Where's the best place for some short-medium term analysis on NZD/Aud?
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Hi there - I don't trade currency, but am looking to buy some more shares is aussie. Not sure which ones yet, so was thinking of locking in current NZD/AUD rates for now. Where's the best place for some short-medium term analysis on NZD/Aud?
Not great news for exporters to Aust if this analysis is anywhere right. But good for next winter's holiday in Queensland!
http://www.fnarena.com/index2.cfm?ty...D819805891635B
Several respected commentators , namely Arco and Max McKegg have commented on the future direction of AUD/NZD and that the breakout above the 1.30 area is significant. I always find it difficult to trade as it is quite volatile and moves a lot without actually breaking the underlying trend. I've seen this gartley pop up now so will be adding to my existing position.
I certainly glad I invest my funds into the ASX many years agos for AUD 1.07c brought some back the other day AUD 1.29
some event has kicked the trade into +ve territory pretty quickly ;+)
Hi Peat
530 pips and counting
Yes, I think we did quite well for longer term holders with a run up of around 410 pips on the long trade - the yellow box target was just touched. Over the last 3 days I've been suggesting a retrace, and additionally last nights short term chart also gave members up to 120 pips
http://i43.tinypic.com/ve82l3.gif
Attachment 2579
I had almost convinced myself that butterflies were caused by the machinations of those who manage/manipulate currencies. But could someone have been working on AUD/NZD for 20years? To me it seems likely that this is a butterfly and it will complete but what will the target be? Probably one for ARCO. Where will it go from there? Probably what John Key is working on?
Hi DA
I was long from 1.275 area i am now thinking its ripe for a short with the prospects of RBA possibly lowering AND THE D leg 1.161 seems to be acting as resistance
Attachment 3677
Hey Rod, nice trade , funny you should bring this cross up as i have been doing some trading on it over the last couple of months.
its a nice technical cross respecting technical patterns nicely.
the harmonic pattern you have drawn actually works a little better if you view it as a bearish crab even though the 1.61 reversal level is the same.
I can give you some links if you want more info on it.
features are:
reversal zone is 1.61 XA , XA 88.6 , BC 2.61
this has been a nice example and have had some good trades out of it.
personally i think were close to a short but i would like to see one more run to challenge 1.32 , it may have done its dash but the low risk short entry is around 1.32 area. looks like a triangle on h1 which may mean a little further to go
maybe something like this rod but i wouldnt trade it , it doesnt look like a top and we havent got divergence on indicators yet.
im going to wait and follow action a little before pulling he trigger.
http://i183.photobucket.com/albums/x...99/NZDH1-4.jpg
Hi DA yes if it gets to 1.32 would be good its also a major support resistance level going back early 2010 apart from its .618 level
i kind of lump anything which isnt a gartley into a butterfly irrespective whether its a bat or crab etc a bit of laziness on my part!
thanks for the charts , i will wait for the top to develop and hopefully divergence
cheers
roddy
wow look at the yen crosses , looks like BOJ has been busy.
DA yes i was tempted to chase it but thought better of it, probably because i havent got a reasonable expectancy day trading system !also surprised just how much aud and nzd have moved against the buck. looking at my daily charts the last daily spike jumped from similar levels to 80 but on that occasion the BOJ may of had nothing to do with it