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Guest Chelseadownunder

UK Pound v Aus Dollar

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    Guest Guest5035

    ARRRGHHHH guys can i have a invite too, i can bring a blonde mod along if you want!!

     

    stevo

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    Guest Chelseadownunder

    Lynsteve, if he dosnt invite you im not going soul brother.

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    Guest Guest5035

    i'm not going if he doesn't invite the blonde mod, got any green stuff we can roll bro.

     

    stevo

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    Guest Chelseadownunder

    I bloody love you man Peace up Cuz

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    Guest Guest5035

    heres me thinking you are a proper business guy, suit, tie, the lot, but i'm beginning to think dreadlocks, massive flares, plimsoles and flowers in your hair....

     

    stevo

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    Guest Chelseadownunder

    Hi Guys,

    Aaah the pound when will it move in the right direction....

    Well some things that have been pointed to recently that could affect the Aussie are

    Over valuation of the housing market combined with the high debt levels could cause a slump and China slowing down.

    Now we may be starting to see both but its still very early days and I urge my new friends on this site not to jump on me for posting this. All I can say is, we need a catalyst and for the sake of those of you with pounds, we need one. Im not calling the market as it would be stupid to do so with the UK in such a state but the above points have been mentioned by analysts far greater than I, that these are the threats to the Australian economy. We will wait and see if this develops.

    The above is not financial advice and should not be taken as so.

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    Guest Guest75
    Hi Guys,

    Aaah the pound when will it move in the right direction....

    Well some things that have been pointed to recently that could affect the Aussie are

    Over valuation of the housing market combined with the high debt levels could cause a slump and China slowing down.

    Now we may be starting to see both but its still very early days and I urge my new friends on this site not to jump on me for posting this. All I can say is, we need a catalyst and for the sake of those of you with pounds, we need one. Im not calling the market as it would be stupid to do so with the UK in such a state but the above points have been mentioned by analysts far greater than I, that these are the threats to the Australian economy. We will wait and see if this develops.

    The above is not financial advice and should not be taken as so.

     

    Looks like it is going to sit steady for a long time - as governments try and claw back for the GFC brink. I reckon that everyone is ultra cautious .

    Talking to my currency broker a while back they suggested "We need a good war to stir things up"

     

    Not as though I'm advocating that but been thinking of expanding my little Colony of New Yorkshire and perhaps invading Morphett Vale. :biglaugh::biglaugh:

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    Guest Chelseadownunder

    I think weve taken back Hallett Cove as a British Colony lol

    Its good that the UK has started to deall with the issue. I think the US could do with doing the same thing but its bound to make the government unpopular so maybe affter the next election....

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    Guest Guest75
    I think weve taken back Hallett Cove as a British Colony lol

    Its good that the UK has started to deall with the issue. I think the US could do with doing the same thing but its bound to make the government unpopular so maybe affter the next election....

     

    Next to fall will be Port Noarlunga judging by the amount of posters who are thinking of moving there!

    Be good to invest in property there - nice place.

     

    Sorry to derail - I'll just nudge it back now.............. :cute:

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    Guest Chelseadownunder

    Hi Guys,

    Its a long time since I have written any comments on the site as there was not much to talk about on the currency side.

    I am currently watching the rally of the Pound v the Aussie. I am trying to make sense of the move from a technical analysis side.

    Technical analysis shows that if we go much more above where we are currently, this could be a good sign for the pound as it breaks out of a trend line that goes back to July 2010. So around 1.57-1.60 could be a very good sign of a break in the down trend. Drops below where we are now will just be a continuation of the down trend.

    Right now today its almost bang on the trend line at $1.53435. Lets hope we see that trend broken and we see a rally in the other direction.

    (As always I have to say this should not be taken as financial advice just one member making an observation)

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    Guest Chelseadownunder

    I just read something this morning that may be over hyped but may have legs.

    Talk of a Chinese property bubble and that house prices are being hit badly. Now if it’s true what they are saying then this will have a knock on effect here and obviously if commodities suffer, Australia suffers. I think if they are right we could see interest rates start to drop here and then that could help the pound. Certainly with building approvals down 7.8% in Australia when they were expecting an increase of 0.4% things are slowing down here.

    Allot of good news has been coming from the UK this week. Manufacturing PMI up Construction PMI up and Halifax House Price Index up 2.2% (They expected -0.3%)

    The Exchange rate has moved to $1.54 which is breaking out of that long term trend down but its not enough yet to say we have a break out. Hopefully the rally will continue.

    I will keep this thread updated. UK bank rate decision today which has a major effect on exchange rates. They don’t expect a change but if it did change (Upwards) it could have a major boost to the pound.

    (As always I have to say this should not be taken as financial advice just one member making an observation)

    Edited by Chelseadownunder

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    Guest Chelseadownunder

    Upbeat jobs data today led to a little Aussie rally.

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    Guest Chelseadownunder

    Its looking really good at this point for the pound chart wise($1.57). A break out of that long term trend is looking possible now. (This should not be taken as financial advice)

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    Guest StaffsGull

    Might see a drop but i expect a rise above 1.60 and beyond in the next few weeks - not financial advice!

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    Guest Chelseadownunder

    Great news for the Pound v Aussie with the 0.5% interest rate drop today (and those with variable mortgages). Nice little rally in the pound long may it continue. Not so good for savers.

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    And Chelsea are in the FA Cup Final and the Champions League Final. Things are looking up!!!!!

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    Guest Chelseadownunder

    Well Anne you are correct. This is a whole new thread in itself. Very exciting and I hope the boys bring back the cup from the Germans.

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    This rate drop is great for me, I am looking at coming out next January and it looks like the pound may continue to strengthen (fingers crossed!)

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    Guest Chelseadownunder

    I am sure I dont need to tell you about what the pound is doing....

    :mad:

    In the short term the Pound is not looking good on the charts currently, this break below 1.5 could go further. Its hitting a trendline at $1.61, $1.58, $1.56,

    Currently at 1.49. Theres a little tiny rally going on today but it could well be a pause before the next drop down further resistance might be seen at 1.47 if it breaks below that its not good. Sorry guys things are not looking good pound v aussie at present. We need to get above 1.56/1.57 to see some light but its not looking like going that way at present. UK in trouble HMV Comet and others all out of business.

     

    This is not meant as financial advice and should not be taken as advice to buy or sell any currency.

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    Guest Chelseadownunder

    Nice (From the pounds point of view) to see the rally from the lows of 1.44 v the Aussie. We are now at a crucial area as far as exchange price action.

    If we can just get above 1.55 things could be turning. The Pound Today helped by the interest rate drop in Australia. (This is not mean as financial advice)

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    Guest Chelseadownunder

    Hi All, when I wrote my last post in May I drew a line at $1.64 as this seems to have been an area of resistance for the pound. I was amazed to see today when I went back to the chart how the price has moved right to this line, pulled back a little and then moved above. As long as we can keep up at this level now this could become what is called "Support" which we may then bounce off of to go higher. From 1.43 in March this has been a relatively big move up. As I am sure all of you know, has been helped along by interest rate cuts here.

    The exchange price has dropped during the day on the 14th and 17th but the Bulls (Buyers) have won the day both days.

    I wouldnt be surprised to see the price move higher with support at 1.62.

    This is my opinion as a member of the site with an interest in Forex and technical analysis, rather then as a Financial Planner and my comments should not be taken as financial advice. Rather just a commentary of events.

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    Guest Chelseadownunder

    We may well see support now at $1.74. Good news showing in the UK with manufacturing picking up, construction picking up. Green shoots dare I say it for more recovery in the UK and may well help the pound. UK Bank rate decision tonight our time, its expected to stay on hold at 0.5% but if they raise rates I would assume some effect on exchange rates. (This should be taken as a member general comment and not financial advice)

    Edited by Chelseadownunder

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    Guest Chelseadownunder

    Europe is finally looking to be coming out of recession and it seems to be led by the UK. Growth is being seen in Agriculture, Service, Manufacturing and Construction. All this is making the picture in the UK and for UK growth look better which is likely to help the pound. We are up around 1.85 now. We seem to have broken previous resistance at 1.81 and now that may become support. (This is not financial advice just a member of PIA personal comment)

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