well i have just taken a position again...., page-40

Hiya guys,

not trying to be a smartarse here, I don't need to try to do that , lol.
if you care to take a look at the huge post I put up on the XJO thread about the AUDUSD pair last week, you'll see that I suspected we were about to enter into some volatility.

Of great interest last night is that the pair bounced off the 50% retrace of the large decline from last year, and interestingly enough, the pair had a coincidence, o the hourly chart, of the 200ma and the previously mentioned 50% fib retracement.

Now obviously i can not be certain of anything, but, my conjecture at this stage is that we could bounce strongly here, test the 84 to 85 cent level, and then range trade for a bit, But... who knows?

to the downside, i have 74 as strong support, and a break of that could see us back to the 70 level....

Upside, no limits, but the 84 and 85 mark and the 82 could prove to be strong resistance.

Post on XJO thread is here for reference,

http://www.hotcopper.com.au/post_threadview.asp?fid=1&tid=907926#4110600

there's a PDF of it two posts below.

Your homework for today is to read the freaking thing, plot in recent price, and tell ME where price is gonna go. LOL!

Well maybe at least chuck up a few charts n lets nail this pair to the wall

;)