Euraudsetup
EUR/AUD bounce or a break today?!1-hour time frame, EUR/AUD is trending higher inside a rising channel and the pair is currently testing support. Aussie may have enjoyed a strong run from impressive job data in the Asian session, but it could return those gains to the euro if the ECB sounds more upbeat. Stochastic is indicating oversold conditions or exhaustion among sellers, too. If price action makes fakeout from daily pivot s3, SMA 100&200 and price admiring the rising channel's lower trendline (support) may be the first signals of bearish momentum fading off. This could be the chance for buyers to hop in and take back price up to the top of the rising channel around daily r1 of the pivot but before that, any major adjustments to price stability and growth targets could impact the euro during ECB release which must be taken care. Some analysts predicting that there could be more optimism surrounding recent economic data release. Breakout lower from all those above mentioned crucial areas of interest with strong bearish momentum can be a case if ECB mess up with its upcoming release which can boost the bearish bias idea on this pair!! Oh, and I will like to bet on bounce bais yo! What about you pals? Which team are you? Bounce or break? Feel free to share your ideas in the comment section ;)
EURAUD Aussie Strong Performance is a Decisive FactorHi, best regards.
This is a similar analysis to the recently released AUDCAD pair.
It's just that the principle used this time is the principle of correlation between pairs which emphasizes the strengthening of the AUD currency.
Based on the analysis the pair has done will at least touch at least the 1.618 Fibonacci level.
If the trend is still strong and there is still a bearish pattern, then this trend will continue and go to the Fibonacci level further 2.618.
The best way to trade is to follow the direction of the current trend which is bearish or wait for a deeper correction and then enter the trend.
Notes:
1. This is not a suggestion to take financial action
2. VolumeWaveFx is not an officially licensed economist.
EURAUD 15MHello traders!
An interim move up for 15 pips looks to be underway between lines A and B.
This trade can also be taken with a buy stop order as a set&forget setup. It's
a market buy for me cause already moving.
It is recommended to position stop no further away than 1:1 RR away from entry,
although this may vary with markets and volatility .
Best,
Jay
EURAUD 240MHello traders!
This trend might be a little overplayed but it may still deliver the pips. In this trade we
are shooting for 40 pips between lines B and C. Looking back at the nature of this trend,
the T1 and T2 levels are more likely to be hit, rather than the T3 level which could be a
launch level, thereby eliminating our short but we won`t know until Monday.
These trades can be taken with a buy stop order as a set&forget setup or we can wait for the body
of PA to close below line B as with the T1 level.
It`s recommended to position stop no further away than 1:1 RR away from entry, although this
may vary with markets and volatility.
Best,
Jay
EURAUD Short Trade Opportunity... Full analysis on screenPrice is up against some heavy resistance @1.63 and we can also see that Bearish momentum is increasing so I guess we will see a further decline in Price in the next few days. Crucial is a break of the trend line on the other hand if there is a break of the counter trend line I will close the trade manually. I hope my on screen analysis is clear but if not feel free to ask me in the comments below.