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.
OK, we know that the EURO is weak. But who's going to be weaker? Euro or Aussie?
Looking at the formation, then I believe that it's going to be the Aussie who will show some weakness in this scenario. I believe that Gold will play an important role in there, if it will continue to sell off as it is doing now.
There is a chance, that this pair will do a few ...
as always looking for confluences. confluence is key in trading. highlighted key things on the chart. as you can there is a head and shoulders pattern forming. stochastic about to cross. fib retracement. trendline break and re-test
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.
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.
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
