EURAUD primed for a turnaround

My order got triggered about 12 hours ago. Price is dancing around the entry point, but I am seeing a jump up tonight. Will post again in the morning.

andersenws

Is anyone else interested in this or am I talking to myself?? Currently up ~170 pips on this position, if the next resistance is broken, we will see a move of at least 100 more.

andersenws

I used to love trading this pair, seemed to have forgotten about it recently.

So thanks for reminding me and please carry on.

Looks good up to at least 6150.

mirror image?

I don't like a long position here at all. Any time when you have an inability to make higher highs and higher lows is very negative. Not to mention an inability to move past the swing high formation that we saw back in August. Not to mention the fact that the Euro is more overbought than the Australian Dollar and has more potential downside in such currency pairs as the Eur/Gbp and the Eur/Usd.

In my opinion, this is just one more currency pair that the Euro will need to destabalize upon to see the weakness it deserves.

well there's going to be a very big move one way or another any day now, my guess is south.

I'm with CG, this is likely to go down. Hard.

I agree that for now, it is headed south but it is choppy trending. Won't have a clear cut direction until around or after the 7th of Jan of 08'.

Yes, the direction will clear up probably around the time the ECB/RBA have their next meetings.