adam234

EURAUD long entry

Long
FX:EURAUD   Euro / Australian Dollar
48 views
3
EURAUD went up from 1.37 above 1.62 without any meaningful correction from April until early October. There is a correction unfolding now, and the 61.8% retracement seems to hold as the price posted a doji like formation yesterday.

DXY index is approaching key level at 100, which was a hard one last time this year. I think USD appreciation is justified however the extent and the pace give reasons for concerns. There should be a correction coming, and when to have it, if not at strong resistance levels and approaching FED hike. Buy the rumor sell the fact phenomenon will work this time as well, I assume.

I was looking a vehicle to long the EUR, where I see the signs of exhaustion of the weakening. I think I have found the correct pair, I vote for EURAUD short.

Comments

stopped out
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Private Messages Chat Sign Out