JWagnerFXTrader
Long

EUR/AUD Suggests EUR Out Performance

FX:EURAUD   Euro / Australian Dollar
959 10 7
The longer view of the EUR/AUD             suggests EUR out performance and/or AUD under performance for the next several months. It appears red wave was an ending diagonal . Therefore, the 1.36 low should be solid.

Since the circle 5 low did not reach the lower trend line , this expresses some pent up energy available. Breakout trades to the long side are preferred. I placed a stop loss near 1.4125 which is the top of a small wave 1.

If 1.4125 fails to hold, it will allow the opportunity to position to the long side from lower levels near 1.39.

1.53 is a minimum target for this long trade with a tight risk to reward ratio. Next levels to target suggest 1.58, 1.63, and 1.79.
June 10 - we just saw a revisit of 1.4500 moments ago...there is some support in this area.

1.4350 is the stop loss on this medium term move to the upside. 1.5300 is the first target for a large RR ratio.

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DavidRoberts JWagnerFXTrader
Stopped out! :S
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JWagnerFXTrader DavidRoberts
Where did you get in and where was the stop loss placed...if you don't mind me asking?
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DavidRoberts JWagnerFXTrader
In 1.4528 Stop 1.4453
I think I tightened the stop at some point....perhaps I shouldnt have!
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andrewcountry JWagnerFXTrader
Any up date? thanks in advance!
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