BombayBulls
Short

How To Short Euro? - 4/15/2016

FX:EURAUD   Euro / Australian Dollar
16 0 1
Many have been trying shorting Euro             with EUR/USD             and getting chopped in the range. Best pair to short Euro             in our opinion is EUR/AUD             . We have been short this pair from 1.5100 and after 500 pips gain, we still believe that there are more 400 / 500 pips to go. Reasons we picked this pair are,
1. If US dollar             becomes weak, then of course both EUR/USD             and AUD/USD             will rise. So net effect on EUR/AUD             will be minimal. Besides AUD is little more advantage in terms of interest rate advantage. ECB is talking about more stimulus while RBA is on hold.
2. If USD roars back knocking everything down, then also we believe AUD/USD             is more supported than Euro             .
3. In terms of nearby resistance levels, It might be tough for Euro             to break 1.1500 while for Australian Dollar             0.8000 is still 300 pips away.
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