Wow, that is the most optimistic Bullish prediction on EUR/AUD I have seen in the last two weeks, all the way up to that level ???. Many have tried before you in the past 10 days and they all failed to predict the bullish move, really hope you're not the next one to fail, as I want this pair to go up more than anyone on here. Great chart drawing, hope it works but I am a bit skeptical.
jubba35
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@HrystiK, Hi thank you for your comment. in my strategy is showing me a promising bullish opportunity and i believe it will go up and it has already started. so Enjoy if you have already got this entry .
Helena_FX
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@jubba35, That's what all others have thought just like you before. You said, "it has already started" :) yes, it did, just like few times in the past if you look at the chart, but it comes back down to this level. The EUR just don't have the strength at the moment to push higher.
jubba35
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@Helena_FX, Yh that is the market nature it will never go straight but the main concept is this pair has finished it's Bearish structure and it is ready to move up so in Forex most of the times it does long or slow preparation before the big move
anyway i believe this coming week it will give us a great Bullish opportunity so you can put it in to your watch list.. EURAUD AND EURNZD Both will make a similar move to the up side .
Helena_FX
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@jubba35, Sadly I have just realised and also by looking at another prediction. The EUR/AUD has formed a descending triangle in a downtrend which is a signal for a trend continuation. it can be seen on H1, H4, H6, and even the daily chart. Yes, sadly it will continue down, the lockdowns in Europe also point to the downfall of the currency.
jubba35
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@Helena_FX, i don't wish for you that you took this pair for sell, EURAUD And EURNZD has moved 250+ Pips each. i was expecting more but that is enough as a retail trader.
Helena_FX
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@jubba35, Looks like it is coming back down to perhaps 1.61700? What is your view?
jubba35
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@Helena_FX, yh you are right but i will not trade this pair next week, in my view it will be in range since it has moved last week but i can see a Bullish flag, it can also come back to that price as you said , anyway this week EUR will be showing some weakness
i will be focusing on USD this week i can see more opportunities specially NZDUSD EURUSD USDCHF
my main 1 will be NZDUSD you also have a look on that pair and compare to your strategy if it fits
Have a nice week end.. Enjoy
Helena_FX
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@jubba35, I think NZDUSD might be going down. The dollar was quite weak recently, perhaps it will gain some strength in the coming week.