EUR/AUD

Well if I haven't already said it enough, GBP/AUD is my darling at the moment. Hope everyone is making the most of these 50 pip 5 minute moves (and more of course). I've been bouncing in and out of the market like a yo-yo for the last month. Nice ...

Indeed this a very volatile and interesting pair to trade. Recently reached its highest high since EUR began. Wow ! Its an animal this one and if you kick it, it will have your leg off.

I'm shorting it today... first from 1.9919 and added another at 2.002

Its in relatively uncharted waters without many support resistance levels to act as a guide... dangerous place to trade but I'm taking the view it will revert to a more 'normal' (I hesitate to use that word) range below 1.8600 +/-

Strap in and poor yourself a 'coldie' or is it a 'tinny' ? Struth Mate !!!!

In my observation, these day we're better either short or long Yen because when the stock market plunges the Yen gets strong and vice versa, that mean Yen gonna be the strongest or weakest currency. We can see all the price movement these day very similar, if USD/JPY rise then all the major currencies against the Greenback will rise, hence we're better to sell Yen and vice versa. So, what about this cross pair? Technically speaking, buy is a better option if you understand the relationship between AUD/USD and EUR/AUD.

Btw, if you think this pair is ranging why not wait to buy the bottom and sell the top of the range than to sell in the middle?

This pair is +400 pips today long.... its topping out on the edges of its monthly channels.... well from 1990 anyway. (BTW. If anyone knows where to get the very long term charts and info I would be interested).

I'm short on it... even though I'm about as comfortable as a man with his shoes on fire right now, it looks like its about to drop to 1.9850 +/- or even 1.9570 +/- Stochastics are pointed due North. On the daily charts October is like a molehill on its longer channels from July... stops set, limits too...off to have a Fosters, with a sausage !

At the moment this pair (E/A) is following the DOW. So if the DOW is heading sounth then this puppy is heading North.

Shorting this thing at the moment is like peeing outside with minus 40oC temps.......it will freeze your assets........

Edit: Great for scalping @ 50 pips per minute.....

With auzzie at channel 06155 eur/aud at channel 20319 who dares short this beast?

Thanks for your imput guys. The pair is up 1170 pips since Nov 19th.... which has taken it to the top of its long term range... from my observations of this and other pairs what rises very fast has a tendency to reverse very fast too... took this as entry to short.It worked in Oct with some good results. Surely all those buyers have to do something when it starts to drop ? If I'm wrong then I'm wrong... and will be stuck to a lampost at sub zero ! Pass me the hair dryer Billster !

Morning All,

Can any one please tell me:

1. How is it possible for this pair, ( or any pair for that matter), to move 104 pips in less than two minutes with no apparant news or motive.

2. Who are the traders that have this kind of ability to make such moves happen.

It just amazes me every time I see such a move.

Have a great weekend

You need to look at the Yen for an explanation of the EURAUD volatility. The AUD/USD is the happy end of the carry trade. As risk moves in (or out) the EURAUD is on the crispy-fried edge of any move. Bid and ask spreads and buyer willingness to back an early move do not necessarily mean this pair is highly liquid, more the subject of much speculative trading.

My 2c.

Beyond that, this pair is also thinner on liquidity than a lot of pairs, which makes it much more volatile. Does anyone with an ECN platform care to jump in here and tell us the average open interest you see on this pair?

All that said, I love trading this pair. "It pays less per pip!" So? Have you seen how freaking hard it moves? It climbed 800! EIGHT FREAKING HUNDRED! pips in the span of a day yesterday. It's a fun ride.

Indeed its a volatile beast. It did fall back over 400 yesterday. Will watch what it does over early next week, see if the next support pops.

Not trading but keeping tabs.. nice to see something pan out you way think longer term, even if just for the experience

rack em up

Exactly.....

This daily flag pattern is taking a very long time to play out. The price has failed again at the top of the range and appears to be retesting the lower end of the range.
A bear market rally in equities and commodities would send this pair down hard, making a temporary top confirmed, and invalidating the flag pattern.

Trading nice here on a Sunday night.
Broke back above the open and now just up & down 100 pip range.
Don't forget to watch G/Y for signs and levels. Short from 202 with TP at 2.0087.

Wow ! Moved 500 pips up and down today already.... 320 in my favour too (short of course) Its swerving around the charts like a drunk in the outback looking to run something over for his dinner ! Enough for today.... I can feel that awful 'fear of missing out' coming on.... tells me its time to stop.

Hi there,

Looking at the price trend today we can say that the EURAUD has been consolidating in a large Pennant formation since early October. This is a continuation pattern, so considering the trend was pointing up prior to consolidation a bullish breakout is generally more likely. Prices have tested support in recent days and are now showing a Bullish Engulfing candlestick formation suggesting an upswing lies ahead. Look for a break through Pennant resistance to issue a daily close above the 11/20 wick high at 2.0562, then go long. The flagpole of the formation (the distance from last resistance to the pennant top) is 3700 pips, putting the long-term profit target at 2.4262.

Regards

Do you think FXCM are trying to discourage trading this pair - lol?

Hmmmm.. can't agree with ForexJam on this. The political machinations in Canada caused a spike up. As for 2.4000 , surely you meant 2.0400 ?

What time scale where you referring to ? All I'm seeing on this pair is a gradual return to a lower price.

As for the FXCM rates.... trade with someone else. They're taking the mickey.

im long from 1.9350