The Euro vs. the Australian Dollar. This pair is considered to be a great barometer for global risk. In 2012, during the European sovereign debt crisis the EURAUD reached its low. Since then, due to the European Central Bank’s policy of Outright Monetary Transactions (OTM or the “whatever it takes” measure ) the pair has recovered substantially.
EUR/AUD Long. Excepting More upside in this pair we have been in a tight consolidation range ( blue highlight box ) So far this week we have pushed out of this and heading higher . 3:1 RR.
Price currently at the top of a resistance level & wedge pattern. Going off of technical analysis i'm seeing this pair dropping long term, so a nice opportunity to get involved. Will be putting SL to break even if i get a nice drop. If it pushes beyond the resistance level then I will close the trade manually for a small loss. Good luck :)
Unfortunately SL HIT . However i executed my trading plan perfectly , Never forgot there is always a random distribution of wins and losses . Onto the next one.
I did a quick analysis on this a few weeks ago, where I thought it will break one of trend lines. But, it preferred to range for a bit.
Well, the longer he range - the bigger the pop it will be.
To be honest, I don't have any preference in terms of direction. As long as it will start breaking the Bollinger Band on a 4-hour chart at some point soon, I don't ...
Both Currencies are currently weak after they both came into significant resistance levels. We are now seeing consolidation on the 4hr chart. 2 possible scenarios to watch out for, a break to the downside and a re-test of 1.4835 would be suffice to look for a short trade. If we see a break of the trendline resistance to the upside we will be looking for a re-test ...
We are still in a trading range. Will be looking for reversals at top of range for short term sell back to bottom of range. We have two potentialy set up scenarios. On a break above range and monthly LEVEL 1.50 we will wait for pullback to test broken resistance as support
Break below we can wait for PB to test ranges broken support
This is at an interesting spot right now.
Looking for a pop one way or another. We've got good EUR moving news today. Let's see what Mario has to say. Ideally, would like to see the rates staying the same for now.
Looking to enter on the breaking points.
As always, keep an eye on the price action!
Following the pattern match, there seems to be some increased selling pressure in the upcoming candles on this 30 minute chart. Great pattern ratios, and some selling pressure, might be a time to go short for a few pips.
Chart pretty much speaks for itself. Price is still stuck in this ascending channel making higher highs and higher lows. A break of this counter trend line could bring some buys back into play as I can see it continue to make another higher high.
