EUR/AUD

To trade this pair, you must keep an eye on correlation of EUR-USD vs AUD-USD, basically they need to move in opposite direction to have the greatest effect on EUR-AUD. When they move together, this pair can be stuck in a range, as is the EUR-GBP pair much of the time.

What is needed for a good move now, is a corrective move on the EUR and continue strength of the AUD, wait & see

result :

As you can see in the following chart in H1 time frame the price is in an uptrend and currently we can see there is a correction between two retrecement level 61.8 &78.6. According to reciprocla ab=cd pattern till Jan. 4th the time will be fulfilled , we are expecting to see the price climbed in the pair if +HD happens and bulls step in and show their power.

Can't post chart but double bottom formed on 1 hour chart...a break above 1.2500 is a true bullish sign and would be ready for a ride to 1.3000

Closed out EUR/AUD longs for a loss as TL is broken and confirmed. Took a new short position @ 1.243 targeting 1.216 for first target.

C:UserssamiDocumentsforcasting2013-01-09_2139.png

gone up over 250 pips..in a few days

Yep! Stopped me out for another loss...

LOL


Head and Shoulders on the Weekly so EUR/AUD should head up to 1.40 or so according to pattern. I was right with my initial bullish bias but got in a little early. Then I thought TL was broken only for price to shoot right back up before daily close which ended up closing out shorts for a loss.

Oh well, will sit this out for a little longer and will keep an eye on price action before jumping back in. EUR has been extremely bullish when looking at all majors as well as cross pairs.

She's hit a daily downtrend line and has had a great run up. Waiting for a good op to short.

I've been short since yesterday. Here's a couple of charts.

Chart.

Time for a retrace, back down?

http://i1356.photobucket.com/albums/...pseb2095fb.jpg

I'm looking for a short as well but waiting for a little levels.

no short just yet for me... im seeing strength... after each set up for the bears the bulls end up winning out... seems as though the bulls arent done yet. gluck.

Short E/A. Almost at BE

Right at big honkin' support

Will hold (short) for now and will see 1.24 area

Of course, that's only if it doesn't go the other way

confidence grasshopper

- Closed my long four days ago, not because I anticipate a short move in Euro/Aussie.

- But because the picture is unclear for me in Aussie/Dollar.

- Regards.

eur aud h1

pattern inv ab=cd- bat

http://pcmbrokers.org/pcmfileupload/...8922712051.gif

http://pcmbrokers.org/pcmfileupload/...9355155451.gif

time daily : pattern : butterfly - ab=cd

http://pcmbrokers.org/pcmfileupload/...9355867491.gif

I'm short. Looking at 1.2790 level. Will take some off before the round number.