justatrader

EURAUD - Overstretched divergence

FX:EURAUD   Euro Fx/Australian Dollar
201 6 3
Notes on chart with 2 possible scenarios. Either ways, a corrective move back to 1.4175 is likely.
Yes, good idea. I am short myself on EURAUD.
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Where are your stops?
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Lacunoide justatrader
Carry trade :-D no SL. the position is very small.
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I've been in a similar short position on EURCAD since August. So far so good.

On EURAUD, 1.4175 will be key. It could resume the uptrend again from here, provided 1.40356 (the low before) is not taken out. If price does fall and close below that level, its back to the good old EURAUD shorts again.
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Lacunoide justatrader
large interest rate difference make me believe that the uptrend will be limited. You know in euroarea the interest is almost negative. The swap will kill off all the bulls sooner or later.
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There's a similar pattern playing out on GBPAUD H1 as well with a bigger target to the downside.
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