Another Round Of Cautious RBA Rhetoric.....

Apr 5, 2017

So we had the RBA set the tone from their meeting yesterday, they have let the market know their concerns.
Right now OIL is slowly creeping up, but also range bound currently $51.40. There is important CAD data out Friday @ 1500 be alert ( Employment/Unemployment ) also the board meet on 12/4/17 for their rate statement.
They may have to upgrade their 2.1% GDP growth forecasts for 2017 and 2018. Right now all the positive figures coming out of the loony are being overshadowed by ongoing uncertainties around Trump's trade and fiscal policies.
So where does this leave us, we can trade out of the event on Friday or if were being extra cautious trade out of the CAD meeting ( Wednesday 12th - 1500 ).
Technical wise right now, we have bounced off the trend line resistance and 103-103.50 range has seen strong rejection ( 3 times ), the 0.786 fib retracement is the only thing offering some short term support, but our view long term is short to the 0.5 fib line, around the 0.98 levels.
As and when we get in over the next week we will keep you up to date,

Stay tuned !!!!!!!!!!!!!!

Apr 7, 2017

Note

Okay guys right now we have broken the 0.786 fib line, it was the only thing offering short term support , down we go, however we will be trading out of the CAD data release today @ 1330, as we don't want any surprises. This is shaping up to be a good longer term trade. If CAD print weak data today then the 0.786 fib line should offer some short term resistance around 101.200-101.400 levels to get in short at safer confluence levels.

Stay tuned as we will be updating you !!!!!!!!

Apr 11, 2017

Trade active

Okay as mentioned we got in @ 101.00, after the CAD - Employment / Unemployment printed above and beyond the prediction on Friday.

TP1 @ 0.9930 just above the 0.618 Fib line
TP2 @ 0.98 again just above the 0.5 Fib line

Happy trading and hope you guys got in aswell............

Apr 13, 2017

Trade closed manually

Okay guys for now based on the impressive Aussie data figures released during the Asia session ,
We will be closing out the trade for a profit, and getting in later down the line again at a better price, as we expect this to retrace towards the 101.00 -101.30 levels .

Happy trading !!!

Apr 18, 2017

Trade active

Okay just going through our trades this morning and we got filled @ 1.01 again , as mentioned earlier and this has retraced as we thought , and now based on RBA minutes, china slowing and putting more strain on commodity prices we can expect the AUD to be under selling pressure once again .
Stay tuned and enjoy the slide down ........

Apr 19, 2017

Trade closed manually

This will stagnate for a bit due to CAD weakness on the oil prices right now , and USD/CAD pushing higher slowly, so for now we are going to move to the side lines.
Our view has not changed but we may be able to sell at a better price around the 0.786 fib line

keep in touch ...