EUR/AUD

Not sure too, this rally from 13 March low could pan out much bigger than expected.

With the pair's break of 1.4000 important support level, encompassing ascending trend-line support and 23.6% Fibo of Feb-Mar decline, the pair could test 1.3850 soon.

Here is hoping short term channel support holds!

Really? You're buying?

Let's see, 17 posts, yes, you are buying

Erebus you put a smile on my face at work. What a picture. Yesterday I closed a short in euraud because of the uptrend line that coincides with the 1.4000 area only to wake up and see price sliced through the are like it was not there. But seeing that picture. I am still laughing...

Olu

what the heck. the pair (eur/aud) just did 500+ pips this week. damn.bears really made a killing !

AUD was stronger than any-other currency on Thursday, even stronger than USD, and hence, the pair did test 1.3850 horizontal mark. However, the pair is likely reversing its decline during the later part of the day and a break above 1.3920 could recall 1.4050.

On the break of 1.3780 mark, the EURAUD is likely extending declines towards 1.3600 horizontal mark. However, lesser chances support a break of 1.3600.

Yeah, it's a great picture, doesn't even need any fancy meme text on it when you considered the context it was posted with here

maybe for a day or two,
in general:
1-USD
2-NZD
3-can't name any

Across the board AUD could be losing value, fast. This would establish trend on most AUD pairs, especially GBPAUD, EURAUD and AUDJPY. But in this particular case here is EURAUD likely scenario… quite large upside potential.
http://i59.tinypic.com/2zg6s8y.png

EURAUD testing important resistance level, breaking which 1.4000 can't be denied. A reversal could target 1.3860 on the downside.

I firmly believe that EURAUD atleast is going to reach the 1.40 level.

I suspect that the 1.4180 level is going to be tested as well.

I have had/still have strong bullish signals on the daily and the 4h TF. Trying to not go to tight with the SL.

Things will calm down a little now, before the US open. Things might "kick-off" again then.

We will see how this turns out.

Be careful about selling aud today, at least watch out for NG storage. Looks like there is no real demand here.

The bulls and the bears are battling at around 1.3940.
The highs of this week.

When price action completes the bottoming process this pair has the potential to go a lot higher than 141xx IMO

I agree with you. I was thinking possible target for the short term/the current bullish movement.

Still price havent been able to break this weeks high, have secured 87 pips of profit with tight SL.

For the future I will enter with larger positions. This way you can claim/secure profit early on. Set a wider SL/SL BE for the remainder of the position.

For me personally I would be more relaxed then. You secure profits as well as giving the price space to move in.

After failing at GBP/JPY and EUR/USD I decided to give this pair a try. Here is my fundamental assessment of the minor cross: The Euro bench rate at 0.05% with a pass by ECB head Draghi to cut further. Historic easing program to the tune of a trillion dollars in bond buying to prevent Europe from going into deflation mode. The European economy has shown good signs of recovery already with euro equities loving the program as investors are forced into stocks instead of hoarding euros.

AUD, no rate cut but Glenn Stevens leaves the door open to for a decrease of the bench rate most likely from 2.00% to 1.75% in the future. China slow down with iron ore prices at an extreme low but there has been an improvement in Austalian data. Both Central bank heads are winners in the currency war race to the bottom.

Technically there is a pretty strong weekly support in the 1.37 which can be shattered by fundamentals if Greece defaults on it's loan repayments by May 12, 2015. With Syriza in power the risk of default has never been higher but I see Tsipras and Varoufakis giving in as powers have put in place insulating mechanisms to prevent global chaos in world equity markets. In the default scenario Greece will be forced to stand alone fucked up beyond all recognition. New drachmas would be worth the going rate of toilet paper and Syriza would be known historically as the party that roiled global markets and destroyed Greece. Long at 1.3926 waiting for the low 140's.

sytethic euro move yesterday was obvious. Wonder what will happen if ng also moves north