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EUR/AUD

  • #661
  • Feb 12, 2013 8:27pm Feb 12, 2013 8:27pm
Quoting Olu
I am currently short about to take it off and go long. Find below a graphic I put up on my thread. Long is the way to go imho - all the way to 1.4000 area.

Olu
Excellent! I am glad I have you on my side

I see you on Strat's thread quite a bit and I know you know what you're doing. I agree with you about 1.2925. I will close longs and take a loss if we have a daily close below 1.2925.
  • #662
  • Feb 12, 2013 9:39pm Feb 12, 2013 9:39pm
e/a i testing round 1.3 area now, if my charts is right. the bull will be here in 5-7 days from now.

best regards
trade safe
  • #663
  • Feb 12, 2013 11:02pm Feb 12, 2013 11:02pm
Im relatively new to Forex.
What are the thoughts on this pair.
I see August last year was the end of a longterm down trend and an uptrend has emerged with higher highs and higher lows.

Is the mid-longterm view on the Euro bullish and on the AUD bearish making a nice trade set up??

What are thoughts also on the price action dropping below the short term support around 1.29xx ??
  • #664
  • Feb 12, 2013 11:07pm Feb 12, 2013 11:07pm
Hi Zac,

Read from this post to the end of the thread: http://www.forexfactory.com/showthre...53#post6416053 (its only a few pages)

I personally am bullish for the mid-term (weeks / months) on EUR/AUD for a few reasons which are mentioned in my post above as well as a few other posts after that one.

As far as 1.29xx goes I will close long positions IF we close below 1.2925 as that would invalidate my current setup and would mean we could head lower to 1.28075 before moving higher. However, I really don't see this happening at this time. I think EUR/AUD will be making new daily highs this week.
  • #665
  • Feb 12, 2013 11:15pm Feb 12, 2013 11:15pm
Thanks heaps for that
  • #666
  • Feb 12, 2013 11:18pm Feb 12, 2013 11:18pm
Quoting Zac
Thanks heaps for that
No problem bro
  • #667
  • Feb 12, 2013 11:31pm Feb 12, 2013 11:31pm
Read from this post to the end of the thread: http://www.forexfactory.com/showthre...53#post6416053 (its only a few pages)

I personally am bullish for the mid-term (weeks / months) on EUR/AUD for a few reasons which are mentioned in my post above as well as a few other posts after that one.

As far as 1.29xx goes I will close long positions IF we close below 1.2925 as that would invalidate my current setup and would mean we could head lower to 1.28075 before moving higher. However, I really don't see this happening at this time. I think EUR/AUD will be making new daily highs this week.

I guess your bearish AUD/USD and bullish EUR/USD? over the coming months for this to happen. The weekly inverted head and shoulders on EUR/AUD looks like a great set up for 1.40. Good luck trading this pair i will keep an eye on it.
  • #668
  • Feb 12, 2013 11:38pm Feb 12, 2013 11:38pm
Quoting feather
I guess your bearish AUD/USD and bullish EUR/USD? over the coming months for this to happen. The weekly inverted head and shoulders on EUR/AUD looks like a great set up for 1.40. Good luck trading this pair i will keep an eye on it.
I am definitely bearish AUD/USD for the time being. Today was probably its last leg up before resuming its current down trend. EUR has been showing exceptional strength these past few weeks so I wouldn't try to be a hero by shorting this currency at this time.

I'm not playing EUR/USD or AUD/USD though, just long EUR/AUD.

Target: 1.40
  • #669
  • Feb 13, 2013 2:09am Feb 13, 2013 2:09am
Looks like the 1.2975 area held nicely.

We just formed a Hammer on the most recent 4 Hour Candle while making a new Higher Low. I think that was our last test before price decides to make new highs on the Daily.

Only time and PA will tell...
Attached Image (click to enlarge)
Click to Enlarge Name: EURAUD_-_H4_Hammer_(2-12).jpg Size: 140 KB
  • #670
  • Feb 13, 2013 2:57am Feb 13, 2013 2:57am
Quoting 100PipsADay
Looks like the 1.2975 area held nicely.

We just formed a Hammer on the most recent 4 Hour Candle while making a new Higher Low. I think that was our last test before price decides to make new highs on the Daily.

Only time and PA will tell...
Likewise the 4 hour candle close just above 1.3000 solid round number. should i say is a coincidence or a target last stops loss hunting by the big boys.

well let the market decide see you @ 1.38
trade safe
  • #671
  • Feb 13, 2013 3:04am Feb 13, 2013 3:04am
Quoting zz_zhang
Likewise the 4 hour candle close just above 1.3000 solid round number. should i say is a coincidence or a target last stops loss hunting by the big boys.

well let the market decide see you @ 1.38
Hi ZZ_Zhang,

I have to agree with you, these last 10 or so trading days it has been pretty choppy. Probably a lot of stop loss hunting before moving higher. Just waiting to make a new daily high then I will feel a lot more comfortable!

See you at 1.38 my friend
  • #672
  • Feb 13, 2013 4:57am Feb 13, 2013 4:57am
Quoting 100PipsADay
Hi ZZ_Zhang,

I have to agree with you, these last 10 or so trading days it has been pretty choppy. Probably a lot of stop loss hunting before moving higher. Just waiting to make a new daily high then I will feel a lot more comfortable!

See you at 1.38 my friend
Dont forget about me I'm in there with you...

Olu
If you think you can or cannot do it you are correct
  • #673
  • Feb 13, 2013 5:11am Feb 13, 2013 5:11am
Quoting Olu
Dont forget about me I'm in there with you...

Olu
Definitely! Looks like your 2975 area held up quite nicely Olu

Now we just need our new daily high then it is on to the next Weekly resistance @ 1.323.

Areas of Resistance (Weekly)
1st Weekly Resistance - 1.323
2nd Weekly Resisstance - 1.366
3rd Weekly Resistance - 1.393


Glad to have you along for the ride Olu!
  • #674
  • Feb 13, 2013 7:42am Feb 13, 2013 7:42am
Wow. Strong selloff
If you think you can or cannot do it you are correct
  • #675
  • Feb 13, 2013 7:44am Feb 13, 2013 7:44am
Quoting Olu
Wow. Strong selloff
Man tell me about it...

The EUR is really starting to show signs of weakness ever since Draghi opened his mouth last week! Starting to get a little impatient and quite irritated to say the least!

Up down up down up down...
  • #676
  • Feb 13, 2013 7:55am Feb 13, 2013 7:55am
Quoting 100PipsADay
Man tell me about it...

The EUR is really starting to show signs of weakness ever since Draghi opened his mouth last week! Starting to get a little impatient and quite irritated to say the least!

Up down up down up down...
I was looking forward to adding more positions but have had to postpone that now. But right now we are holding above 00.

Olu
If you think you can or cannot do it you are correct
  • #677
  • Feb 13, 2013 8:01am Feb 13, 2013 8:01am
Quoting Olu
I was looking forward to adding more positions but have had to postpone that now. But right now we are holding above 00.

Olu
Yep, seems as though we may need to wait a little longer before we see any real progress with this pair.

Fundamentally it is hard to see EUR/AUD moving higher but all of the technicals are pointing up from what I can tell. All we can do now is hurry up and wait
  • #678
  • Feb 13, 2013 8:06am Feb 13, 2013 8:06am
Quoting 100PipsADay
Fundamentally it is hard to see EUR/AUD moving higher but all of the technicals are pointing up from what I can tell. All we can do now is hurry up and wait
Maybe im missing something but im of the view Fundamentals support EURAUD moving higher in the weeks/months ahead. AUD is bearish providing strength to this pair and improving Euro conditions should provide strength.

I havent kept up to speed on drivers in the Euro region however, so not sure if Euro has some weakness to come but I thought alot of the worst has been and gone.
  • #679
  • Feb 13, 2013 8:11am Feb 13, 2013 8:11am
Quoting Zac
Maybe im missing something but im of the view Fundamentals support EURAUD moving higher in the weeks/months ahead. AUD is bearish providing strength to this pair and improving Euro conditions should provide strength.

I havent kept up to speed on drivers in the Euro region however, so not sure if Euro has some weakness to come but I thought alot of the worst has been and gone.
Yes you are actually right. A lot of money started moving back into Europe as the "crisis" faded away creating a higher demand for the EUR currency.

The only thing that AUD has over everybody else is their high interest rate. I should have said that and not "fundamentals." Obviously a high interest rate is not the only factor involved when gauging the value of a currency.

Thanks for the input Zac.
  • #680
  • Edited 9:33am Feb 13, 2013 8:12am | Edited 9:33am
Quoting 100PipsADay
Yes you are actually right. A lot of money started moving back into Europe as the "crisis" faded away creating a higher demand for the EUR currency.

The only thing that AUD has over everybody else is their high interest rate. I should have said that and not "fundamentals." Obviously a high interest rate is not the only factor involved when gauging the value of a currency.

Thanks for the input Zac.
We are going back up....

Olu
If you think you can or cannot do it you are correct
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