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- #1,162
- Mar 31, 2014 4:55pm Mar 31, 2014 4:55pm
- Joined Oct 2008 | Status: CANCELLED MEMBERSHIP | 3,116 Posts
{quote} nice setup is brewing up for a scalp on EURAUD from 4858 to 4920, final rally before thing is getting flushed down the drain pipes for good.) on second thought, could be straight down the drain pipes.
The EUR/AUD did meet stiff resistance today and I think that had to do with Davit shorting the EUR/USD earlier and profiting from it.
Resistance is at 1.49221 then 1.49973 then 1.50601
Let me first say I do not trade the pair EUR/AUD, however I looked at it and then researched all the data available to me currently and will share everything I have found and hope it helps with your analysis.
Immediate support is at 1.48550, if that support does not hold then 1.4630 is the next level of support which is the top/start of the Demand Zone.
The Demand Zone is between 1.4630 and 1.4530. If price action brings the pair to those levels, look for strong buying opportunity.
However, the very significant level of Support is at 1.4405
I am not seeing any options barrier for the rest of this week as it relates to this pair.
On the daily chart, we are definitely trending downward and 1.44520 is the D Extension of the 0.618 retrace if you trade using fibs.
So be careful if you are holding shorts and watch the levels i've pointed out as we approach the Demand Zone area.
In terms of SWAPS, selling this pair and holding is to your advantage earning positive interest.
Happy Trading
HDA OUT
http://www.forexfactory.com/showthre...06#post7374706
- #1,163
- Apr 1, 2014 1:34am Apr 1, 2014 1:34am
- | Commercial User | Joined Jan 2011 | 4,044 Posts
{quote} @ruffryders: The EUR/AUD did meet stiff resistance today and I think that had to do with Davit shorting the EUR/USD earlier and profiting from it.
- #1,167
- Apr 1, 2014 4:16am Apr 1, 2014 4:16am
- Joined Oct 2008 | Status: CANCELLED MEMBERSHIP | 3,116 Posts
- #1,168
- Apr 1, 2014 4:29am Apr 1, 2014 4:29am
- Joined Oct 2008 | Status: CANCELLED MEMBERSHIP | 3,116 Posts
{quote} ok, I'm out of my hedge on EUAU with -10K, looks like 4900 was rejected, and bear engulfer @ WP, so heading lower now.
Congratulations on your trade
You are correct, it went as high as 1.4902 - remember 1.49221 is resistance as pointed out earlier - and your indecision level as pointed on your beautifully presented chart is worth taking note off - You are seeing everything correctly. I only see green pips for you once you stick to your plan and take some profit before all the levels of support and resistance depending on how you plan on trading it.
We are both seeing the exact same thing
HDA OUT
P.S. heading back to the sack, I'm tired
- #1,169
- Apr 1, 2014 4:38am Apr 1, 2014 4:38am
- | Commercial User | Joined Jan 2011 | 4,044 Posts
{quote} @ruffryders: Congratulations on your trade
I'll let the time take care of this thing, plenty remaining until 5th May 2014.
- #1,172
- Apr 1, 2014 7:46am Apr 1, 2014 7:46am
- Joined Dec 2012 | Status: Trader | 8,124 Posts
{quote} @ruffryders: The EUR/AUD did meet stiff resistance today and I think that had to do with Davit shorting the EUR/USD earlier and profiting from it.
Good morning HDA and ruffryders,
One area of interest for me.
The world you desire can be won. It exists.. it is real.. it is possible..
- #1,173
- Apr 1, 2014 8:47am Apr 1, 2014 8:47am
- | Commercial User | Joined Sep 2013 | 2,500 Posts
Money Makes Money
- #1,174
- Edited 9:05am Apr 1, 2014 9:00am | Edited 9:05am
- Joined Jun 2009 | Status: Trend Trader | 6,281 Posts | Online Now
If you think you can or cannot do it you are correct
