Eur/aud

Hi there,

Anyone actually trading this pair?
I think it has suffered from two conditions, aud is gaining and eur is declining,

when we say aud (usually its against usd, same with eur)

hence the overall effect is now on eur/aud is major declining,
it has already passed its september's low,

what do u guys think?

we just had stronger than expected CPI but there is talk of another rate rise Sorry forgot to mention that i'm sitting on the Gold Coast AUSTRALIA

Gold Coast how nice, i used to live in Brisbane for a few years,

rate hike?
that would mean, this pair will go south south and south...

and i might go bankrupt lol

There was a write-up on this pair a few days ago on dailyfx.com. There is a huge head and shoulders setup on the daily chart (you may have to zoom out quite a bit, I didn't see it at first). I think the recent move down has broken through the neckline so we may see this pair drop like a rock.

Anyone else see the head and shoulders setup?

hi zoopy,

sry im fairly new, what do u mean by head and shoulders?

im a scalper and it turns out that this pair was on a trend, i didnt realise when i scalped it, so am on a very difficult position now,

i think this pair will go further south but i do hope it goes back up north,

The first article explains that if history is an indicator Aud will gain in the week preceding its rate hike. The second article speculates that EUR may be weakened by the 4am EST Business Climate Index out of Germany.

http://www.bloomberg.com/apps/news?p...refer=currency

http://www.bloomberg.com/apps/news?p...refer=currency

Throw in the mouteki setup (thanks to the live alert system!), and that was all I needed to enter a short at 1.6530

I would post a chart but I'm not sure how to post charts on here. I sent you a private message.

Personally I would cut the line to this trade if you're losing. It's best to cut your losses than to let them run in the hopes that things will turn around.


zoopy

thanks zoppy, i think i know what head and shoulders are, its just these terms that i am not familiar with,

im still contemplating either to close the trades or wait

i think i will decide after thursday

i have around 450 pips lost in that trade,

that would be half of my profit this month, which means i will end up to pretty much where i started.

i am still hoping.

My view from a T/A point of view is very bearish on this pair she might be a bit bullish at times but overall very bearish, opening of New york might nail you which is something we dont wont.

Happy Trading


Sorry no chart still a mystery as of yet.

the german IFO positive news did not increase the pair that much, its more of a correction as it seems,

i wonder,

Between the time of my first post and now, Eur/Aud has moved up around 100 pips,

but i did not do anything during that,

bummer.

anyone seeing this pair going up again?

I've been monitoring this pair for the past few days. I trade the VWB and enter using the 4 hour chart.

The daily candlestick that it formed looks like a spinning top plus the price has been hovering around the extreme fib levels. On my 4 hour chart it also shows a momentum change to the upside. Whether it goes up is another story. There is however news coming out of Europe which may give it the push it needs.

I trade it. I've been short since 6635...