Hi there!
Today I was thinking of the pair which reflects the strength of the Dollar and commodities (rising Oil drags Copper and others) and I came to EURAUD chart. (BTW EURCAD idea already paid well)
EURUSD is in downtrend still and DXY is going to reverse higher.
AUDUSD still up on rising Copper.
So even fundamentally the EURAUD is huge negative.
Look at the chart - at the end of 2009 the price already broke below 10-year long support!
Then we saw IDEAL pullback!
Now we gonna break 4-year support! Nice opportunity!
Best wishes!
Today I was thinking of the pair which reflects the strength of the Dollar and commodities (rising Oil drags Copper and others) and I came to EURAUD chart. (BTW EURCAD idea already paid well)
EURUSD is in downtrend still and DXY is going to reverse higher.
AUDUSD still up on rising Copper.
So even fundamentally the EURAUD is huge negative.
Look at the chart - at the end of 2009 the price already broke below 10-year long support!
Then we saw IDEAL pullback!
Now we gonna break 4-year support! Nice opportunity!
Best wishes!
Comment:
4H structure, nice impulse is finishing. Looks like we are not going to fall at once, we should see a correction before.
