AUD.NZD

[booney]

Arco has suggested AUD/USD may rise towards 0.7813 and also indicated possible reversal south in NZD/USD, so one would have to think AUD/NZD heading north.

Or have I made a mistake somewhere?

[arco]

Welcome Booney

Yes, that is correct.

I'll come back with a greater explanation and targets when I get more time.

regards - arco

[peat]

well i think i see a worm turning
am long now, not the best entry at 1263 but will see what the morning brings.

[peat]

hmmmm, a bit suckered last nite it seems, but stop was placed just under 1200 so holding for now.

[peat]

more convincing now.... all indicators I looked at seem to be on the up.

[peat]

this has now retraced almost exactly the 61% fib and heading up again - kiwi did the same (obviously opposite direction)

[arco]

Hi Peat

Yes, i've made a small start with an entry at 1290

.........currently + 7 [:0].......

.......seeing if it ready to go and I can then pyramid up

regards - arco

[peat]

interesting to see what you regard as a confirmation... will be nice if you dont have to go through the pain I've had holding this position for some days now. I too would have added at 1265 but am at work. perhaps another opportunity when I get home.

Good Luck arco (I say rather selfishly heheh)

[arco]

Hi Peat

Pin Bar on 1hr and 30 min chart off Fib 618

Gann is positioned circa 1230, so not sure if the action might want to test that again.

Therefore only taken a 10% holding until I see if this
is the real thing.

regards - arco +9 [V]

[peat]

This position is still a bit testing.... but nothing technical indicating a change at this stage.
Fundamentally that higher business activity report and the prospects it raises NZ interest rates is a little worrying tho.