A week later from my last post on this pair and the pair tested the 1.5140 key handle the whole week and still waiting for confirmation if the breakout bullish was a false break or not. This will only be confirmed with a decisive break below the 1.5140 handle and be cautious of taking trades on this pair without sound confirmation of direction. The pair closed above the 1.5140 handle this week at 1.5170 but we can see it is in a range, so wait patiently for direction and trade the pair when it becomes clear which currency is stronger and weaker as they are both equal at the moment. I’ve attached the WEEKLY and DAILY charts.
EURAUD - FOLLOW UP 4 NOV
EURAUD - DAILY
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3 thoughts on “EURAUD – FOLLOW UP 4 NOV”
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Pivot points indicate 1.4850 or 1.4750 if Aussie weakens due to ABS and RBA…
Correction – 1.4850 or 1.4750 if Aussie strengthens due to ABS and RBA…. maybe initial strength and then weakness at the release of the policy announcement…
My first target is at 1.49 and will see how it goes this week as it gave a terrific sell today pre/London open onwards. Thanks for your feedback Ryan!