EUR/AUD Discussion - Aussie Stock Forums

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  1. #1

    Join Date
    Jul 2012
    Wollongong, NSW

    Default EUR/AUD Discussion

    Anyone who went long on the 8th of August is laughing... 700 pips, I've stayed out til now
    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


    Can a mod please delete the below image, I can't work out how to do it.
    Attached Images
    Last edited by OGRooney; 4th-September-2012 at 07:05 PM.

  2. #2

    Default 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?

  3. #3

    Default Re: EURAUD Discussion

    Quote Originally Posted by Lone Wolf View Post
    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?
    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.

  4. #4
    TulipFX's Avatar
    Join Date
    Dec 2010
    Amsterdam - Brisbane
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    Default 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.

  5. #5

    Default 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.

  6. #6

    Default 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"

  7. #7

    Default Re: EURAUD Discussion

    Good work, jumping nicely now.

  8. #8

    Default Re: EURAUD Discussion

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

    Soarest head.

  9. #9

    Default 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.
    Attached Images

  10. #10

    Default 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.

  11. #11

    Default Re: EUR/AUD Discussion

    Watching this Squeeze pattern..
    Attached Images

  12. #12

    Default Re: EUR/AUD Discussion

    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.

  13. #13

    Default Re: EUR/AUD Discussion

    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.
    Attached Images

  14. #14

    Default Re: EUR/AUD Discussion

    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!!

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