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This excessive volatility tells me that we are about to enter a phase of extreme risk aversion and if that occurs then I want to be long EUR/AUD. I’ve re-bought EUR/AUD this morning and will look to consolidate my position between 1.36/1.44 (I know, crazy ranges), looking for the next move higher to 1.50+.
This pair after forming a double bottom, took the past 2 week's candle a long bull one and the and opened in a gap the past week, but closed in a deep bear pinbar
The EURAUD rally from 12926 is in 5 waves and appears to have culminated with Monday’s reversal. The goal over the next several days and weeks should be to identify a secondary low
the pair and as we can see from the chart has closed it's daily candle under the level of 1.3800 , so , that's mean the down trend is still standing and the pair is heading to 1.3750 then 1.3720
There’s been a significant bullish breakout on this market. The Aussie has been clearly weak against the Euro. I’d like to wait to buy a pullback upon the turning of the trend to clear bullish, or I’d find a way to sell high, trading pro-cyclically.
the pair is trading under the level of 1.3800 , any way if the pair succeeded in breaking 1.3800 , it will continue in it's up movements heading to 1.3830 and then 1.3860
Intraday trade:
If a M15 close above 1.3789 buy only and do not sell. If price closes back below it again do nothing.
If a M15 close below 1.3736 sell only and do not buy. If price closes back above it again do nothing
The range 1.3789 and 1.3736 is neutral area, any trade done in between is personal decision and not part of this analysis
we can notice from the chart that the pair has closed under 1.3800 , that's mean the down trend is expected and the pair might head to 1.3700 then 1.3670 , however the pair made a hourly correction
Current move should be supported in 1.3730 - 1.3700 zone for a rise to 1.3858. A break below 1.3660 opens the way down.
Intraday trade:
If a M15 close above 1.3798 buy only and do not sell. If price closes back below it again do nothing.
If a M15 close below 1.3731 sell only and do not buy. If price closes back above it again do nothing
The range 1.3798 and 1.3731 is neutral area, any trade done in between is personal decision and not part of this analysis