SHORT EUR/AUD
Updated
Fundementals: Don't think there will be a second rate cut in the coming month till july.
Projections: Rate cut for RBA
July/August 2019 1.25 -> 1.00
Feb/March 2020 1.00 -> 0.75 [Dependent on economy Outlook projection]
Recent news: Trump might sanction germany, brexit turmoil and trade war.
Hoping for a resolved conflict from a USCHN trade war during the G20 Summit.
In the past 3 years price has been capped around this area, any upside sellers tend to push it down.
Weakness in AUD is temporary due to prolonged trade war.
I favour Short EUR/AUD over EUR/NZD.
Projections: Rate cut for RBA
July/August 2019 1.25 -> 1.00
Feb/March 2020 1.00 -> 0.75 [Dependent on economy Outlook projection]
Recent news: Trump might sanction germany, brexit turmoil and trade war.
Hoping for a resolved conflict from a USCHN trade war during the G20 Summit.
In the past 3 years price has been capped around this area, any upside sellers tend to push it down.
Weakness in AUD is temporary due to prolonged trade war.
I favour Short EUR/AUD over EUR/NZD.
Note
Ideals Short range:1.6360-1.6400
Target 1: 1.6070
Target 2: 1.5700
It will be wise as the swaps rates for this pair is positive. Think of it as a Long term investment.
Note
Targeting 1.6070, incoming guys.Note
Trade stopped, profit. RBA will be dovish tomorrow.
Fundamentally, aud’s economy is really bad.
RBA will be dovish tomorrow.
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