RBA last seen buying the Gold that China is waiting to buy at significantly lower Gold prices. RBA doesn;t care, it's doing whatever it takes to support the price of Aussie now.
anyone that can look at a chart can see and the next res. ashraf gives major direction, hes not often wrong in the long run, but can you take the draw downs?? maybe not. 38.2% retracement from the jan19th high would put us at 1.5422. come on guy's it dropped near enough to 1600 pips. its gona bounce, who knows where?? not me, but look at the chart
wolf Melbourne, Australia
March 8, 2010 03:48 ET Member since Feb 2009 In Thread: GBP
if cable breaks thru the 1.52 it could run all the way to 1.5350, take caution guy's. daily is lookin up!
@rose-USDJPY will get hammered again once the RBA and PPT stop intervening, and equities are "permited" to trade under their own derise. Without goosing of sppos, equities will fall sgarply, and so will USDJPY.
@pip-just watch USDCAD on a 1-minute chrt and you will see exactly what I am talking about. Every time it gets close to sniffing above 1.0300, the hand comes out and beats it down. Similar to watching AUDUSD on a 1-minute chart. Nearly every downtick is immediately met by the RBA with two upticks.
@newpip - tough call. I think most of those here that are playing USDCAD are long. As you are aware, this pair has a tendency to trade inversely to the direction of oil as Canada is dependent on oil exports, therefore the "loonie" (the CAD part of USDCAD) is typically oil dependent.
However, there is a belief, which I do not share, that the BOC will rais einterest rates before the FED will. Unlike the RBA and there nonstop manipulation higher of their local currency AUD, the BOC often bemoans a strong loonie, and therefore would prefer a higher uSDCAD.
However, some analysts are now calling for parity on this pair as the Canadian economy is in far better shape that the U.S. counterpart. 1.2000 is vitally crucial support level for this pair.
What I have found very odd is the trading pattern of this pair the last few days. There is also short-term critical resistance around 1.0295/1.3005. Everytime this pair even takes a sniff in this direction, it gets beaten down immediately 15 pips, which it takes hours to recover.
How come someone isn't out screaming like the Greeks that there are speculators trying to drive this pair to parity, like their are manipulators, RBA, trying to drive AUDUSD to parity.
Your ranges are accurate. Clear break above 1.0310 and this pair will fly towards 1.040. The RBA knows this, and also knows higher prices in USDCAD tend to mean lower prices in AUD USD. So who is continuously hitting the offer on USD CAD?
Careful of another mindless short squeeze here in GBPUSD. By all roghts, it should have gone to 1.49 on the RICS Housing news. However, the RAB needs to support risk appetite in order to prop up its overvalued currency Aussie. So not only is RBA selling a basket of currencies against AUD in regular FX transactions, they are also selling USDCAD, buying gold, and buying euro and GBPUSD.
Additionally, the EURGBP pair put on 80/90 pips yesterday. So as is the norm with GBPUSD after awful economic news, the offer on EURGBP will be hit all day as euro struggles and GBPUSD once again defies the odds and sqeezes shorts in yet another mindless short-covering squeeze.
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anyone that can look at a chart can see and the next res. ashraf gives major direction, hes not often wrong in the long run, but can you take the draw downs?? maybe not. 38.2% retracement from the jan19th high would put us at 1.5422. come on guy's it dropped near enough to 1600 pips. its gona bounce, who knows where?? not me, but look at the chart
wolf
Melbourne, Australia
March 8, 2010 03:48 ET
Member since Feb 2009 In Thread: GBP
if cable breaks thru the 1.52 it could run all the way to 1.5350, take caution guy's. daily is lookin up!
They are propping anything risk related to engorge in the National Pastime of Australia: propping the local Aussie currency
However, there is a belief, which I do not share, that the BOC will rais einterest rates before the FED will. Unlike the RBA and there nonstop manipulation higher of their local currency AUD, the BOC often bemoans a strong loonie, and therefore would prefer a higher uSDCAD.
However, some analysts are now calling for parity on this pair as the Canadian economy is in far better shape that the U.S. counterpart. 1.2000 is vitally crucial support level for this pair.
What I have found very odd is the trading pattern of this pair the last few days. There is also short-term critical resistance around 1.0295/1.3005. Everytime this pair even takes a sniff in this direction, it gets beaten down immediately 15 pips, which it takes hours to recover.
How come someone isn't out screaming like the Greeks that there are speculators trying to drive this pair to parity, like their are manipulators, RBA, trying to drive AUDUSD to parity.
Your ranges are accurate. Clear break above 1.0310 and this pair will fly towards 1.040. The RBA knows this, and also knows higher prices in USDCAD tend to mean lower prices in AUD USD. So who is continuously hitting the offer on USD CAD?
Additionally, the EURGBP pair put on 80/90 pips yesterday. So as is the norm with GBPUSD after awful economic news, the offer on EURGBP will be hit all day as euro struggles and GBPUSD once again defies the odds and sqeezes shorts in yet another mindless short-covering squeeze.