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EUR/AUD Discussion

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OGRooney

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Anyone who went long on the 8th of August is laughing... 700 pips, I've stayed out til now :eek:
Reckon we'll get to the 61.8 fib? if so whats your predictions from there, up or reversal?

Daily RSI is at the highest it's been since march 2011 :eek:

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Can a mod please delete the below image, I can't work out how to do it.
 

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Re: EURAUD Discussion

I notice that your buy price is right on the previous support / new resistance line. It also happens to almost exactly line up with the 50% retracement level. Don't get me wrong, I have no opinion on what it might do as I don't trade chart patterns at the moment. But you seem to like fib levels, any reason you don't value the 50% level?
 
Re: EURAUD Discussion

Lone Wolf said:
I notice that your buy price is right on the previous support / new resistance line. It also happens to almost exactly line up with the 50% retracement level. Don't get me wrong, I have no opinion on what it might do as I don't trade chart patterns at the moment. But you seem to like fib levels, any reason you don't value the 50% level?
Click to expand...

I just use the standard set that come with the tool, every now and then I add in 50, 76.4 and 78.6. The tools really messy even with the standard set, especially if you have other lines drawn, actual resistance/support levels that don't quite match up with the fib levels.

I just noticed that I'd missed out on 700 pips this morning so when the price dropped today I saw an opportunity to enter, I wasn't aware it was the 50 level, I think I probably should use 50 a bit more.
 
Re: EURAUD Discussion

There is the ECB meeting on 6 September, the German court decision and other expected events like the Troika report on Greece and Spain's potential submitting to a bailout plan to consider too.

The recent run up however has been due to AUD weakness, more than EUR strength.
 
Re: EURAUD Discussion

It appears to be a very bold long, given the poor long swap also.

If you use fib (which euraud doesn't currently appear to respond to well being a trender) EURAUD and AUDUSD are both at a 50% fib level, I would be looking at 1.21600 ish retrace for any long entries IMO. Although this has been on a good run up, personally I certainly wouldn't be going long, but hey I have stuffed up quite a few lately.
 
Re: EURAUD Discussion

Two consecutive 1 hour closes above 50 fib last night... even if we don't breakout there's a nice 50 pip range trade 1.2260 - 1.2310. I got trailed out twice for 15 pips or so, I've entered again without a trail - I'll aim for 1.2310 and if we stop there I'll sell targeting 1.2260 with a stop above last nights high, still I think we're going to see more upside.

Sticky note above my computer "If your too sacred to speculate, your in the wrong job" :p:
 
Re: EURAUD Discussion

bah ended up short trying to pull of that range trade, should have stuck to my guns :banghead:

Soarest head.
 
Re: EURAUD Discussion

A pop through the 50% for the euraud, and now it looks like we will see the retrace while the AUD makes a run to fill the gap. AUDUSD has already spent 113% of its daily range so may not see much more out of it today. EURAUD still has a bit to go yet @ 83%.

Might be another chance for you to go long yet on the 38%, will wait and see what all te latest talks hold.
 

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Re: EURAUD Discussion

EUR/AUD chart has experienced a descending trend during the recent week that could record the bottom price of 1.46553. One of the sellers’ targets was the level of 127.2 (AB=CD Pattern) that they were successful in reaching to it and the price was not able to descend more by reaching to this level. Right now this price level is one of the important supportive levels in front of the price.

Right now price is above 5-day moving daily time frame that show an uptrend during the next candles.Formation of Shooting Star and Hanging Man candlestick patterns with thin body in green area shows indecision market and vulnerability of ascending trend.AS it is obvious in the picture below, there is an non-ideal AB=CD harmonic pattern between the top price of 1.58246 and the bottom price of 1.46553 with ratios of 61.8 and 127.2 that warns the ascending of price from the D point( the first warning for ascending is breaking of the resistance level of 1.49650). Stoch indicator is in saturation sell area that confirms the current harmonic pattern with the next cycle but because of non-compliance and coordination with larger time frame(Monthly Time frame), this signal is not much valid. The first warning in this currency pair for descending of price is breaking of the supportive level of 1.46553.

euraudweekly.jpg
 
EURAUD on Daily Chart - Slips back towards the 1.4416/1.4360 support area which remains in focus while 1.4785 caps. On Weekly Chart - Continues to hover above the August 2011 high at 1.4264.
 
Technical Analysis of EUR/AUD Dates 2014.12.17

EUR/AUD was in a strong and consistent uptrend during the recent weeks that Buyers were successful in obtaining the highest price of 1.53302.Currently price in long term time frames such as monthly and weekly is above 5-day moving average and warns more ascending in long term interval.As it is obvious in the picture below, between the top price of 1.53302 and bottom price of 1.38067 there is AB=CD harmonic pattern with ratios of 50 and 161.8 that warns the potential of descending from the D point of this pattern.

RSI indicator is in saturation BUY area in h4 and daily time frames and in divergence mode with the price chart that warns about changing price direction during the next days.According to the current situation there is not any clear reason about descending of price in long term time frames such as monthly,weekly and daily. The least sign for descending of price is formation of a top price and recording of it in daily time frame.
 

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EURAUD confirmed a very strong closing last night recovering after the selloff of the past few session that caused a 1,54 undershooting. A possible closing tonight above 1,5710 tonight will confirm a s/t bottom supporting a possible resumption of the move up suggesting a move toward 1,6920!!
The indicators of the daily chart are however still below the line for now but those of the weekly one are well positive supporting further strength. The indicators of the s/t charts are also positive, however showing overbought conditions, especially in the hourly chart. This could limit the extension of the present rally but, having formed bearish divergences we expect a further overshooting toward 1,59 where we suggest selling some!!
 
For those with a D1 outlook for EUR/AUD. H4 signalled last week. Returns to 1.51500 possible. Looks to be breaking out of a complex H4, fourth wave?

upload_2017-9-10_16-37-40.png
 
One of the currencies I am currently trading. We have a Wyckoff accumulation schematic developing at an area of interest (order block). I have 3 orders currently running which were entered on the 2 minute chart, each targeting the low of the 1H imbalance marked up on the chart.

OLHWSSBI


HuIKoB1O
 
Been trading the EUR/AUD for a little while. Came up with the excellent concept of trading the 30m following the 1hr time frame, find it unique in every way and very successful. Thought I'd weigh into it and wright into this thread and update my success and failures.

It's Friday tradings finished for the week. Looking forward to Monday, to evaluate my success. The prediction is for it sell falling from the tops of 0> fibonaci retracement currently sitting on 0.236 level were it hovers, eventually to form the trend (sell or buy) creating an entree to sell I would expect. But looking at the AUD/USD it wants to further sell after yesterdays downfall. Since these pairs are opposites attract. The EUR/AUD could ride sideways for a while if not break resistance.

balance; 44106

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As figured the EUR/AUD has contested resistance, 0>Fib Retracement, wouldn't consider entering on the prospect of further highs, best to wait for the EUR to react and begin, a negative approach and go short. Wait for the 0.236 fib to be approached. Where there's money to had?

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Not much going on! A bit of a dead rubber, been in range all day. Got into it hour a go and it's hardly moved an inch. Should be an up side later in the evening...All 5 AUDpairs have been moving sideways all day. Perhaps it will cheer up when the EUR wakes up?
 
Its been a depressing day for the trade, finally its broke through and I've gone short. With Indicators, CCI ( community channel index ) bottomed out, and the 1hr chart in positive territory. I would expect it to go all night if not best of it. At least to the yellow 200ma. With that being the case, I must set a trailing stop...If it becomes to late...Good Trade...

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