FX:EURAUD   Euro Fx/Australian Dollar
357 12 3
On the daily time frame the price still climbing an up channel to , but now is on a sensible zone , support zone , then we have 2 choice , the support will hold the price again to make other higher low , or let the price falling down ...
i think waiting the market decision better than taking a bad one like SHORT or LONG now :)
so we are in front of two choices :

- waiting the breakout of the neckline to going up and still in the main trend

- waiting the breakout of the supports level ( horizontal + canal ) to going short , cause the support become weak and will play like resistance role in the other days

finally breakout the resistance and forming a nice reversal H&S pattern , Im buyer :)
Reply
Looking bullish and should go up, unless your orange resistance holds.
Reply
alex.a ForceFollower
after GDP data, I am sure it would go down. I am shorting at 1.53 in case spike up ~
Reply
I've notice you can read the released economy figures very well, alex.a. :-) Worth asking for your advice. What's your next expectation as far as the coming news announcements are concerned?
Reply
alex.a ForceFollower
I don't know. But Euro spike up and down because of DXY buyer at that low due to tapering effect - and now it shows London bought the AUD at this Chinese news or London reacted the lower USD portion to go up, I have no idea which one it is. So, AUD recovered which means everything is working for Nizar's direction at THIS MOMENT. That much ~
Reply
The AUD recovered, because it was oversold.
Reply
Sam0101 ForceFollower
y oversold wil cause the AUD rallies?
Reply
Perhaps not 'cause' but 'is conducive' to relative strengthening of a currency. For example currently the most oversold ccy is USD, but it hasn't found it's momentum cycle bottom yet, I'm afraid. Anyway, any time soon you can expect a relative strengthening of USD, so I wouldn't bet on the greenback's weakness at the moment.
Reply
alex.a alex.a
My other words are cut out ~ Don't know why... London is buying AUD. I have no idea which reason, lower DXY or Good Chinese DATA. So far careful with announcement of Christmas Q4 data from EU and then it will go our dude's direction "so far"
Reply
Sam0101 alex.a
alex u really hav a deep analysis..... great !
Reply
United States
United Kingdom
India
Deutschland
España
France
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
Malaysia
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Priority Support Ideas Published Followers Following Private Messages Chat Sign Out