FX:EURAUD   Euro / Australian Dollar
67 8 3
Cup ^ Handle, lip line breakout, targeting PRZ of Bearish bat at ~1.93350
Hi NW! On weekly chart it's a big bearish pinbar (two weeks ago). You think that it's a fake pin bar?
lixit lixit
In fact, on almost all pairs we have a pinbar. It's about that move due to China turmoil?
Everything on the markets worldwide is about China. Whole west invested there because of cheap labor. Chine had tremendous progress. Now is pulling back a bit which is normal. If you have in mind the size of western production essentially Made in China - you have collapse of western stock market. Yet, they have to make more corrections in CHY ( 7% more if I`m not wrong ), and I`m looking forward that volatility.
lixit Nightwish
Thanks for your answer. Still, that pin bar it's on the chart, all charts. Technically speaking, it's a rejection of higher or lower price, depends by pairs. For example, GBPAUD. Nice rejections from 61.8 fibo.
lixit lixit
lixit lixit
So you think the Eur is that strong with all the troubles in Europe?
This one works as AUDUSD evil twin. AUDUSD broke key support and is nose diving towards multi year lows. Therefore you have very strong move in EURAUD upside and 2 completely different patterns agree on target. It will take time but it might be there. The same happened with my GBPAUD idea published months ago. Big TFs always win mate.

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