IvanLabrie
Long

EURAUD: Daily downtrend expired at monthly support

FX:EURAUD   Euro Fx/Australian Dollar
5 months ago
We have an interesting level below price in the Euro/Aussie cross. It might be interesting to enter longs around this zone, targetting a retest of 1.5225-1.5265 in the coming days. If you enter at market, you should factor in a one average range risk at the very minimum, but it might be safer to use a wider stop, or enter off a shorter timeframe setup.
Considering my long term analysis of the pair, this support level, if it holds, might send the price up strongly, being a big accumulation level, technically speaking.

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Ivan Labrie

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Risk disclaimer: My analysis is provided as general market commentary and does not constitute investment advice. I will not accept liability for any loss or damage including, without limitation, to any loss of profit which may arise directly or indirectly from use of or reliance             on such information.
5 months ago
Comment: Good progress, this might be the start of the move.
5 months ago
Comment: You may add to longs with the same stop loss, risk 1/2 of your first entry.
5 months ago
Comment: I'm still bullish EURAUD, the bet is AUDUSD will fall faster than EURUSD. Let's see if we hit my target before flipping short again.
5 months ago
Trade closed manually: Out for now, need to see if EURUSD falls on Friday post NFP, it seems highly probable. This would render this idea useless if the monthly mode support fails. EURAUD would tumble despite AUD not rallying vs the dollar (in that event).
If you're interested in joining my trading newsletter or private lessons, message me. I trade Forex, Equities and Commodities. Contact: skype @ ivanlabrie, PM here or QQ (2954487803).
harilaos
5 months ago
hello Ivan, any ideas on EURAUD and AUDUSD? I am irritated, Australia is downgraded and AUD is strengthening. Kind regards, Harry
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IvanLabrie PRO harilaos
5 months ago
Hi, I'm out of the long here. Watching, EURUSD might take a beating, so it might affect all EUR pairs soon.
AUD remains like a strong currency overall, possibly due to it being a good yielding currency, amidst droves of negative carry instruments.
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