Just looking over some charts tonight and realized that the EURAUD seems to be ready for a bullish run. As I write this, EURAUD is at 1.5650, which is near the bottom of a multi-year range.
4/11/2004 - low of 1.5686
6/19/2005 - PB low at 1.5537
10/02/2005 - BUOB low at 1.5593
12/4/2005 - low at 1.5612
7/22/2007 - BUOB low at 1.5472
IMO, this adds up to a possible trend change, and I will be buying once I see a bullish signal, probably setting a stop near 1.5450. We have the setup, now it is just a matter of waiting for the signal.
Please leave your opinions,
andersenws
4/11/2004 - low of 1.5686
6/19/2005 - PB low at 1.5537
10/02/2005 - BUOB low at 1.5593
12/4/2005 - low at 1.5612
7/22/2007 - BUOB low at 1.5472
IMO, this adds up to a possible trend change, and I will be buying once I see a bullish signal, probably setting a stop near 1.5450. We have the setup, now it is just a matter of waiting for the signal.
Please leave your opinions,
andersenws
"Youth is the trustee of prosperity." - Benjamin Disraeli