I am short EUR/AUD (nice roll over interest too). I am by no means seeing a strong AUD however I am of the opinion that we will see a weaker EUR with further monetary easing coming from the ECB. I am happy to stay short, because of the roll over, for an extended period. A break of 1.42 would give me extra confidence in my trade. a break of 1.5340 will invalidate...
My analysis is based on elliott wave. EURAUD seems to be completed wave 4 with 38.2% retracement. I'm expecting the market to fall and begin wave 5. The bearish channel gives us extra confirmation. Our target is the lower boundary of the channel. Happy Trading!
The Situation shows a very good setting. But there is a potential for 1.419 again, before going up. So therefore wait for 1.419 or for the red trend line to break for a good entry.
I'm looking at two things here on the EURAUD. Bigger picture is a potential bearish trend continuation trade as price action looks to make a retracement into a previous shelf of structure. Around that same level lays a potential bearish butterfly pattern completing at 1.618 & 1.272 Fibonacci confluence. Adding to that we have more ratio confluence in the form of...
Friends, Last Wednesday, June 04th, i posted two bearish targets for this chart, nmaley: 1 - TG-1 = 1.43744 - 04 JUN 14 and 2 - TG-Lo = 1.40384 - 04 JUN 14. For a detailed technical commentary of the predictive analysis and forecasting, see the original chart/text here: . As of today, the outlook remains bearish and the lower target remains intact and in...