EURAUD 26/04/2020
In Technical Perspectives, there is a strong support (Green Area) in Daily and Weekly time frames. If the price reaches the support area , I shall monitoring the price action to enter with long position; if the price breaks the minor resistance, I shall wait for a retest at the "resistance turns support" zone because there will be a inverted head & shoulders formed.
From the COT perspectives, EUR is becoming more stronger due to the net position is increasing with adding long position and closing short position which means Hedge Fund has an interest to buy more long position in EUR. However, for AUD, the net position is decreasing and Hedge Fund have been closing more short position than long position in a downtrend market which means Hedge Fund are trying to accumulate the long position in order to "sell high but low".
Do drop a comment at the comment section below! We can share our analysis to each other.
Kindly take note that my analysis is based on COT perspectives and technical analysis .
Also, we always reacting to the market instead of predicting the market.
From the COT perspectives, EUR is becoming more stronger due to the net position is increasing with adding long position and closing short position which means Hedge Fund has an interest to buy more long position in EUR. However, for AUD, the net position is decreasing and Hedge Fund have been closing more short position than long position in a downtrend market which means Hedge Fund are trying to accumulate the long position in order to "sell high but low".
Do drop a comment at the comment section below! We can share our analysis to each other.
Kindly take note that my analysis is based on COT perspectives and technical analysis .
Also, we always reacting to the market instead of predicting the market.
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