EUR/AUD

EURAUD sell to 1.5580

The pair after being bearish seems to have found its support around 1.55700. The price produced a Double Bottom and made a bullish breakout at the neckline. However, it did not move towards the North with good momentum. It is having a consolidation. A breakout above consolidation resistance may push the price towards the North further.

Great trades here.

Woooo raptor6 you experienced 142 pips of dd...You were right but you didn't anticipate that pullback. But the market allowed you to make better entries to your target price.

EURAUD made a good bullish move on Friday. The H4 chart shows that the pair closed its trading week at a level, where it had a rejection earlier. Thus, the sellers may look to go short in the pair at the beginning of the week. On the other hand, the buyers may wait for the price to make a breakout above to be able to find out long opportunities again.

The pair may get choppy if the level of 1.57340 holds the price as a level of support. A bearish breakout at the level may offer short entries to the sellers. Let us wait for that bearish breakout to go short in the pair again.

Nobody saw this in real-time; cute little Pin Bar...

Exactly in the middle of Wednesday, middle of the week

Is someone else bullish EUR/AUD this week?

This is going south hard!! Just hop on and ride this thing down!!

Thanks for nudging me. I caught the train.

Anybody got any guesses as to where this thing might finally land? This is getting beyond ridiculous. 1400 pip drop in a little under a month. Down 670 pips just this week. And WITHOUT A SINGLE PULLBACK. I don't remember the last time I saw something like this. Maybe the pandemic panic of early 2020. Sometimes when there is no other clear areas of support on the charts, drawing parallel lines to form a 'would be channel' might provide a rough target area for entry/exit. I've used this strategy successfully in the past on numerous occasion. If that's the case, then we're looking at a little below the 1.48 area. It kind of feels like we're at the point where TA has become irrelevant, though. The further it drops, the faster it falls. Like this thing is just going to keep on going down. I will say that whenever it DOES bounce, it's likely to be a pretty good bounce. E/A will often have huge runs in one direction, only to be followed by very strong retracements in the opposite direction. So just something to keep an eye out for.

Another pair which has been extremely bearish in the last week. The pair closed its trading week around 1.48220. It may make a bullish correction. The level of 1.49730 may work as a level of resistance. It is a Fibonacci retracement level. Thus, the sellers may wait for the price to produce a bearish reversal candle to go short in the pair again next week.

heading to 2017 lows

not ridiculous at all. been going sideways for over a year aud targets are going up and euro moving down...makes perfect sense.

Same thought here. According to economists at ING "EUR/AUD is at the lowest levels since 2017 and looks like it can fall another 2-3% near-term." Thus it can fall another 1,200 pips.

Bought @40

Update: closed BE

Update2: re long @35

Update3: closed BE

Update4: long 35

Update5: added @25

Update6: closed BE, flat

Update7: long 25

Update8: added @15

Update9: closed BE, flat

If the pair is not working out, leave it and come back in a weeks time. Don't force the trade buddy.

Yep, it's like an old flame. Already moved on, seeing she wasn't interested lol