EURAUD Swing Short

Late one today sorry ive been busy. Looking at EURAUD again today as its approaching a critical zone. Were almost back up to the top from where we sold last time. But this time i dont think we will see such a big drop . In my opinion i think we will get a shorter drop of around 300 pips or so, maybe even a little less before another attack of the top zone. Look for this daily candle wick to fill and then rejection round the top to sell. Thats what i will be doing GLIYF

This one just kept on going this time…I still think it’s a sell though next week

Awesome calls mate. Cheers.

Well we have now had some retracement from the huge bull push on EURAUD . The AUD RBA cut helped that fact, but is it short lived? time will tell. Since i last looked at this pair we have dropped a couple of hundred pips or so and find ourselves sitting at the previous high high. Could this be the support shelf that will hold price up? who knows, my guess is we will see a further push down towards that .618 fib at least or possibly the previous high which we know is a strong zone which could act as good support now. Looks certain the bull is here to stay so long opportunities can be made around those areas. Trade safe, risk management as always

Just keeps rising…

It seems EURO is the hedge in this crazy market at the moment lol

All the markets are crazy right now.

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It will be like this till the end of the month at least. :thinking:

Could get worse with the Corona Virus etc

yeah and the last week showed this

Ready for this one to drop when the virus is under control in China

EURAUD has surpassed all expectations i had of this pair. The virus situation certainly has killed the ozzie dollar the most. We are having to look at the WEEKLY chart to see possibilities of what will happen next.
To me it looks like we could be heading towards the weekly 0.236 fib from the previous high. Will it stop there? My idea would be that it comes back for some support around 1.83-1.85 area for another push towards the BIG round number of 2.0000. Its also possible we could even break higher to make all time new highs. Obviously thats dependant on how long this corona situation drags on. But for now certain bull is very strong and buying on pullbacks is a good way to trade it. GLIYF

Sunday so im looking ahead for the week beginning. Back to EURAUD and oh my days what a mover its been. The weekly resistance of 1.66 area that has been tested a few times and held over the last 5 years has well and truly been smashed. We breezed right past and upwards towards the round number of 2.00. but we rejected just before we got there. But as you can see from price action we have wicked up from the .786 fib level and it seems to be making that level a nice support shelf. Possibly for the next move upwards, you can see just above the highest price this pair has ever been at in 2009, will we get there again and break above? With australia just going into lockdown and the virus still spreading its certainly a possibility. Look for signs of a buy on that support level . Risk management as always GLIYF

Thanks for the update, watching this one carefully, hardly moved today…

Morning everyone, looking back on EURAUD today and something comes to mind that we could see some strength short term in the Ozzie dollar. With china coming back into full production this could prove to be helpful to AUD, as they are one of their biggest exporters. Yesterday we saw the biggest unemployment claims in the US, currently the dollar is falling. AUDUSD is having a nice climb upwards, and were seeing some bearish action on EURAUD . I think we could possibly see some bearish action back towards the .618 Fib If you get in now use good risk management, or wait for a drop below the support and sell on the retest. tight stops possible for a good R:R of 1:6.46 . GLIYF

Will be watching these pairs closely when the markets open later

Closed off a solid long on AUD/USD and AUD/CAD this Friday.

Looking to enter it again and ride it up definitely feeling some strength in the short term for AUD.

Looking back at euraud today. Currently EUR has been weak across the board. Also AUD has gained a little strength. I hope you guys are still in sells from that previous resistance. Hold it down the support level it chooses next. Could be the round number of 1.7 or the .618 fib level. I think thats where the next buy opportunity will be. But for now keep holding the sells for a nice medium term trade. GLIYF

Sold this one yesterday so hope you’re right :grinning:

Ok so since i last looked at EURAUD and was selling it down to the .618 fib, we have dropped over 480 pips. If you have been following since the start and got in on the sell then your in well over 700+ pips. I would consider taking profit around here and waiting to see what happens next. We have some support levels coming up and also divergence on the Daily timeframe . So we may see a turn here or some sideways action. i think it all depends on what happens with AUD and their economy whilst on lockdown as its still possible for them to grow with China being back in business. Stay safe, RM and GLIYF