Good morning/evening traders! As we hit our targets from yesterdays trade on FX:EURAUD , I see another good opportunity to go short again. This time we have a H&S setup, and price has broken the neckline, now I am waiting the retest of neckline to become a resistance for more confidence and the go short all the way down until the key support level @1.5674 and the...
Sunday Morning Traders! What we have for Monday is a very nice long setup on FX:EURAUD So we have a nice bearish channel and inside the channel nice ABCD pattern which is more likely to complete somewhere in the Red Zone with the confluences of: 1. Fibs extension 1.272; 2. structure support 1.5581; look left and check this level. 3. channel edge right at...
This Gartley pattern formed at the end of consolidation suggests a long movement from a monthly low. if there is a break out of consolidation , the market will likely rally up into the 1.618 extension of the BC leg, around 1.45530. i have placed my order long keeping the risk reward ratio at 2:1. I have placed my stop at the lowest low of the Gartley pattern, and...
EUR vs AUD is sitting on the support zone from a previous range at 1.40195 & 1.39726. Price has pierced through this zone but is showing some bullish strength as price has pushed higher above the zone. We are seeing some buying pressure as there is a rejection at this level but remember this is a daily candle and we have about 4 hours till closing. With that said...
In my previous chart of EURAUD I was anticipating bullish AB=CD Unfortunately it was premature at the time as It still was in correction mode. Hence that trade will now be delayed. However, in the mean time it could offer interesting shorting opportunity. Most of the details are on the chart but here is the summary of technical to consider as you plan your...
Friends, This will remain a very short post. If you recall, last year, i released a long-term bearish signal, defining one numerical target and one nominal target (see today's dated technical note on "Predictive/Forecasting Model - Definition" in this thread: for more on the significance of these distinct targets). This DAILY chart shows older targets,...
EURAUD down trend confirmed for the whole year ... almost ...
Looks like EURAUD is giving multiple signals to sell. RSI is now in the overbought zone. But which pattern to take? Bearish Gartley(Blue) Entry - 1.45153 Stop - 1.46240 Target 1 - 1.43379 Target 2 - 1.42283 Bearish Gartley(Purple) Entry - 1.43251 Stop - 1.43400 Target 1 - 1.41859 Target 2 - 1.40999 Bearish Cypher(Orange) Entry -...
I am short EUR/AUD (nice roll over interest too). I am by no means seeing a strong AUD however I am of the opinion that we will see a weaker EUR with further monetary easing coming from the ECB. I am happy to stay short, because of the roll over, for an extended period. A break of 1.42 would give me extra confidence in my trade. a break of 1.5340 will invalidate...
My analysis is based on elliott wave. EURAUD seems to be completed wave 4 with 38.2% retracement. I'm expecting the market to fall and begin wave 5. The bearish channel gives us extra confirmation. Our target is the lower boundary of the channel. Happy Trading!
The Situation shows a very good setting. But there is a potential for 1.419 again, before going up. So therefore wait for 1.419 or for the red trend line to break for a good entry.
I'm looking at two things here on the EURAUD. Bigger picture is a potential bearish trend continuation trade as price action looks to make a retracement into a previous shelf of structure. Around that same level lays a potential bearish butterfly pattern completing at 1.618 & 1.272 Fibonacci confluence. Adding to that we have more ratio confluence in the form of...
Friends, Last Wednesday, June 04th, i posted two bearish targets for this chart, nmaley: 1 - TG-1 = 1.43744 - 04 JUN 14 and 2 - TG-Lo = 1.40384 - 04 JUN 14. For a detailed technical commentary of the predictive analysis and forecasting, see the original chart/text here: . As of today, the outlook remains bearish and the lower target remains intact and in...