Dislikedwelp, i took the day off so i wouldnt torment myself looking at my DD... im still short EA and underwater 83 pips...if this doesnt turn around sunday and reaches a hundred ill have to close and like my wounds.... the way price has acted contrary to my system sells sugget the banks wanted to push up the pair for the slamdown cause of the election... AUD should firm up.... i dont know enuf about aussi politics but no matter who wins the contrarian play that auusi will go up.....thats what im hoping anyways LOLIgnored
Also, labour party (deemed to be bearish for AUD) seems to be leading in the pre-election polls, so it could also be possible that people are pricing in for a labour party victory and have been selling AUD. If labour party wins, there could be no further reaction. If the coalition wins, then we could see some shorts-covering, considering it is not cheap to sell AUD.
Of course, all this said, doesn't include trade war talks. If somehow there's positive news on that front, we can expect massive shorts-covering and should trigger plenty of SLs which in turn trigger more shorts-covering.
EUR/AUD has a ADR of about 150 pips, so being down 80 pips is no big deal on EUR/AUD in my opinion.
I think there's a 50% chance that we see EUR/AUD at 1.58 region within the month.
Coalition currently leading 60 seats to 54; 76 seats required to win. You can see the LIVE results here: https://www.theguardian.com/australi...rack-the-votes
If you want in on my experimental EA, PM me.
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