Tuesday, June 17, 2008

AUD/USD stop moved to B/E


I still believe in the trade overall but have moved the stop to breakeven and will look to score a better long position as well as increase my position size.  Limit buys set again at .9403 & .935.  A serious break and hold below .9335 will put a hold on this trend and make me take a second look at the situation.

The screenshot shows the +/- pips thus far on the trade as well as the adjusted S/L & entry point.

AUD/USD update 2

Still chugging along, was up nearly 40pips at the high, it's due for a little retrace now and should be on it's way back up soon. It seems the test of resistance @ .945 helped the bounce back. After .945, I'm looking at .9475 & .95 to be the next points of resistance.

We're clear of any big moving news for both sides of this pair through the rest of the week which I see as encouragement for the uptrend.

AUD/USD update...

...not a lot of direction right now. News overnight didn't rock the pair too much but the original limit long @ .9403 would have certainly been a better fill than the market order @ .9416

Important USD news this morning...the Q1 account deficit widened to 176.4bln (4bln more than expected) & housing starts were 5k less than expected.

AUD/USD is coming up on the daily high right now @ .9433ish...I'm looking for a nice strong move upwards to continue this little uptrend.

Tomorrow seems relatively news free for the AUD & USD. Thursday brings some USD news and Friday is again quiet.

Good morning!