AUD/USD Daily Video, August 12, 2015

[Sive Morten]

Good morning,

Aussie almost has reached our major support area that could give direction for considerable period of time:




The technical portion of Sive's analysis owes a great deal to Joe DiNapoli's methods, and uses a number of Joe's proprietary indicators. Please note that Sive's analysis is his own view of the market and is not endorsed by Joe DiNapoli or any related companies.

 

[Brett Reynolds]

Wow..5 yrs already. I think i discovered FPA around 2011 and started watching your videos then. I'm sure i speak for everyone in thanking FPA for the work that they have done and continue to do. The information and help to protect against scam brokers and such like is invaluable! Not to mention the Educational material that is available in your Forex course etc.
Retail trading can be a lonely and somewhat introspective existence and i'm sure that your video is watched by many more people than you think even if, like me, they do not always use or agree with the Di-Napoli methods. It's a great help nonetheless in giving and informed opinion. Once again
Congratulations on 5 yrs of diligence and hard work to all at FPA.

 

[Dave Hanson]

Sive, Aussie did reach 7201 as its low this session. It's now 7356. I'm wondering if because of the big rise you may feel that it met the 7200 buy area? Or do you still feel it will go lower, perhaps to the 7175-7182 area (the butterfly .618 extension) that you mention in your video? You said it could happen this week. I'm thinking that the US retail sales data tomorrow (projected by economists to be very good) might result in the Aussie retreating to the 7175-82 area. Do you have any additional comments to your video after seeing the big rise of a cent-and-a-half from the 7201 level during the current session. Thanks.

 

[Sive Morten]

Sive, Aussie did reach 7201 as its low this session. It's now 7356. I'm wondering if because of the big rise you may feel that it met the 7200 buy area? Or do you still feel it will go lower, perhaps to the 7175-7182 area (the butterfly .618 extension) that you mention in your video? You said it could happen this week. I'm thinking that the US retail sales data tomorrow (projected by economists to be very good) might result in the Aussie retreating to the 7175-82 area. Do you have any additional comments to your video after seeing the big rise of a cent-and-a-half from the 7201 level during the current session. Thanks.

Hi Dave,
well, I also a bit confused with started upside action, but I do not like uncompleted Butterfly. So, we need probably to wait a bit. For monthly chart 50-100 pips is not a distance.