Attachments: EUR/AUD

EUR/AUD

#1,621
May 15, 2015 2:23am May 15, 2015 2:23am

skyhok
Joined Feb 2014 | Status: Trader | 1,796 Posts

Rallying on an impulse wave.

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Elliott Wave for optimum entry, exit and risk management of trades

#1,622
May 18, 2015 8:07am May 18, 2015 8:07am

skyhok
Joined Feb 2014 | Status: Trader | 1,796 Posts

Wave counts evolved and expect an extended 5th wave (wave [v]) on the card.

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Name: EURAUDM15 18May15.png
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EUR / AUD volatility on high:
http://www.actionforex.com/markets/d...2010032173360/

Elliott Wave for optimum entry, exit and risk management of trades

#1,623
May 19, 2015 1:27pm May 19, 2015 1:27pm

Temujin
Joined Dec 2013 | Status: Trader | 1,508 Posts

Quoting skyhok

Disliked

Wave counts evolved and expect an extended 5th wave (wave [v]) on the card. {image} EUR / AUD volatility on high: http://www.actionforex.com/markets/d...2010032173360/

Ignored

The ECB kind of killed that channel there with increasing quantitative easing over the summer and short term negative deposit rates. 1.4150 will be the new top. At least AUD has some kind of benchmark rate to attract capital inflows. The euro will soon be reduced to a funding currency. I see 1.38 in a few weeks.

Be humble or be humbled.

#1,624
May 19, 2015 6:19pm May 19, 2015 6:19pm

Olu
Joined Jun 2009 | Status: Trend Trader | 6,277 Posts

Quoting Temujin

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{quote} I see 1.38 in a few weeks.

Ignored

I am thinking earlier than a few weeks...

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

#1,625
May 19, 2015 10:12pm May 19, 2015 10:12pm

skyhok
Joined Feb 2014 | Status: Trader | 1,796 Posts

Quoting Temujin

Disliked

{quote} The ECB kind of killed that channel there with increasing quantitative easing over the summer and short term negative deposit rates. 1.4150 will be the new top. At least AUD has some kind of benchmark rate to attract capital inflows. The euro will soon be reduced to a funding currency. I see 1.38 in a few weeks.

Ignored

Yes, set invalidation at 1.3992.

Elliott Wave for optimum entry, exit and risk management of trades

#1,626
May 19, 2015 11:34pm May 19, 2015 11:34pm

giveachance
Joined Jun 2013 | Status: Trader by hobby not by profession | 7,045 Posts

eur/aud. 2 things worth noting. it is trading in a 200 pip channel 1.40-1.42. what can break the channel?? euro going below 1.1 or aussie going above 0.80. the chances for the 2nd one are next to impossible after how pathetic the aussie is performing in the past few days. have some numbers worth noting. 1.3972 is the key to contain downside now and 1.4092 which was I think the high in NY is for the upside.

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#1,627
May 20, 2015 1:25am May 20, 2015 1:25am

Temujin
Joined Dec 2013 | Status: Trader | 1,508 Posts

Quoting skyhok

Disliked

{quote} Yes, set invalidation at 1.3992.

Ignored

The channel was looking good and then wow just a couple words from the ECB. They sound desparate to bring the euro down. The stock bubble is becoming ridiculous and it keeps going every London session when the euro sells off.

Be humble or be humbled.

#1,628
Edited 8:00am May 20, 2015 5:02am | Edited 8:00am

skyhok
Joined Feb 2014 | Status: Trader | 1,796 Posts

Daily chart shows present PA in a upward (5 waves) wave c.
Technically, this upward potential is still valid as PA is developing in the upper 61.82% of blue wave (1).

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Name: EURAUDDaily 20May15b.png
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Elliott Wave for optimum entry, exit and risk management of trades

#1,629
May 21, 2015 12:45pm May 21, 2015 12:45pm

Temujin
Joined Dec 2013 | Status: Trader | 1,508 Posts

Yes, I think so Skyhok. When AUD/USD and EUR/USD fall to the dollar EUR/AUD goes up. US data has been lacking. The euro is looking supported and AUD is stable. Came across an interesting article on EUR/AUD.

http://primepair.com/technical-analy...ish-19-05-2015

So inflation is heating up in Australia and maybe Stevens does not want to cut the rate again because of it. Instead he can lean on the U.S. fed to raise and bring AUD/USD to the .75 he has always dreamed of. So while it does bring down AUD/USD, EUR/AUD is going to go lower because of the accelerated QE and Greek problems persisting. The next crisis coming is June 5. I agree with your chart, lower before higher.

Maybe a retest of 1.3750?

Be humble or be humbled.