EURAUD is coming to a big area of decision of what will be the determing trend. Weve been selling from the top in multiple instances, if youve made pips along the way then congrats. My last look at this pair i was looking at price to retrace up to the supply zone but we didnt quite get there. But it did create a double top in price so im hoping some of you got onto it. The R:R was still a 1:4 if your stop loss was just above previous high on the double top . Whats next, well im looking for price to come back below the previous highs that we are used to. But will it keep tanking or will we see another buy come from EUR. doesnt look likely to me at the moment, AUD are doing well with china and the EUR is crumbling. Lets wait to see GLIYF
Looking back at EURAUD today, came down to the 4H TF to see some more current price action. Price did break below the previous low so it looks like we are retracing currently to make a lower high. Im looking to sell from the circled areas of interest and for structure to remain bearish . Other wise we might have to rethink whats the next way its going to go. New week lets be patient and see how it plays out. GLIYF
Its been a long time since ive looked at EURAUD properly, ive been waiting for price to come to me. If you check my previous posts i have had the yellow circle painted in this position for months. We are currently sitting in it, Now i think AUD is gaining momentum ive got two trade opportunities for a short. There is AUD news in 1.5Hours from now so that will give us the type of trade im looking for. If its bad we could see a pullback towards that recent resistance area . We could sell from there with a short stop, or if the news is good we could see a drop through that long trend and support level . The best option is to sell on the pullback and retest. So two good ideas to get a nice short in and hold. WE still might see some more bear movement
Looking back at EURAUD today. Naturally we had a bottom form and seeing a pullback in price. but to me it still looks bearish . My trade idea for EURAUD is that we have broken the long term uptrend from 2017, so i think we will see some more bearish action. Very simple break and retest to play out on this one. I just hope price can get up to that zone for the retest. nice R:R of 1:5 to the bottom of that range that its used to sitting in we can see from the left. GLIYF
EURAUD is going to plan so far. Since the drop through support we got a doji and then a push back up to our entry zone the following day. We seen a couple of days drop since then and today weve seen another pullback up towards the resistance so if you missed the first entry today was another chance to get in. if you follow these charts then i hope your in by now. Looking for the drop to support below. GLIYF
New week begins and having a look at EURAUD today. Last time i looked i was looking for the sell from the trend and small supply zone . But price had more momentum so i hit SL on this one. I guess i should of waited as it came up and hit my blue circle perfectly. more patience pays always, but still its all good. There’s a couple of op’s here as AUD seems to be picking up strength again. jumpign in now is risky but should work with a small stop loss. Im going to wait for the break down of the resistance zone and sell on the retest. GLIYF
Hope everyone had a good trading week. This weekend looking at a possible EURAUD short. Havent looked at this pair for a while, but i think the time is coming for a big move in price. You can always tell by price action and the moving averages. We have had sideways movement and not been anywhere near the averages for months, its like price waits for them to catch up before making its next move. Which is what we have here, price getting squeezed, the averages have flipped and spread to signal a downtrend, so im going short on this pair for a modest 1:3 R:R down to the support level below. Enjoy the rest of your weekend see you monday. GLIYF
Over the weekend i called this setup to sell on market open. We had a little tiny bit of DD but it moved as expected. Currently we are 200+ pips in profit on this pair, it looks like we could continue towards out target. Price touched the moving averages for a rejection and it looks to be down trending now At this point you should of moved your stop loss to entry so its a risk free trade, or if you want you could even move it into 50 pips profit to bag some pips for sure. Keep holding for now if we break slightly below this level we are at now. GLIYF
Its been a while since i looked at EURAUD , Mostly because it has been moving sideways for weeks on end. But one thing i learnt from one of my mentors was, "always try to capture the market, it will show you where it wants to go" i will always remember this and try to do this where i can n the chart. Thats what we have here and my bias is still bearish for this pair, i think its only a matter of time until it tanks. Draw out the trap an trade the winning direction. GLIYF
Its Fridayyyy which means the end of the trading week and time to hit the pub at the end of the day. But first were looking at EURAUD . This pair is a clear battle of two strong currencies. From my other posts we can see clearly that the EUR has been pumped hard lately, as well as we already know AUD has been tugged along with the chinese economy so we have a battle on our hands. I think when one of these two currencies comes out the strongest we will see a nice move on this pair. Last week we saw a big move down from the top of the triangle upper trend line which looked like it would drop through but low and behold it has held inside. BUT i think its not long until we see a drop in my opinion. Remember wait for the winner to be revealed and trade that direction. Have a good weekend all. GLIYF