jbourgault
Long

EURAUD long (retracement to fib 0.613 completed)

FX:EURAUD   Euro / Australian Dollar
26 2 1
After last week EUR explosion, a follow through is to be expected. And EURAUD             seems to be a very good candidate (especially given the AUD bulls are giving signs of exhausion).

The pair retracement to the 0.613 fib level is now complete.

Target #1 : 1.5343 (fib ext 1.414)
Target #2 : 1.5469 (fib ext 1.618)

Stop loss : 1.469
Previous scenario is aborded for now and profit were booked.

Actually, it seems we are still in consolidation with a wave B that has just ended. I'll now wait for a wave C to be over before going long. I'll be especially looking to the 0.768 fib level (around 1.46) which could provide enough support. Then I would expect wave 3 to unfold.

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Plan is properly unfolding. Seems like we are just at the beginning of an impulsive wave 3.

First long trade is active since ~1.47. Stop was moved to breakeven + an additionnal trade was open.

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