AUDEUR
EURAUD - 100pip Short?EURAUD has been moving in an interesting manner of late.
If you noticed on the 4 hour, a consolidation around 1.63500 to 1.6300 - with a spike up to 1.6450 and falling back into the 1.6300 - 1.6350 range thus creating a head and shoulders.
Daily - We have come into Yearly highs, with a Spike up and a bearish close on the day, forming a shooting star/bearish engulfing, with the next day retracing, however we saw another spike into the highs. Market has failed to break past 1.6350 resistance and another shoting star formed. We ar looking for a break below 1.6300 to confirm the head and shouders formation.
short AUD/EURHad a position like this earlier although i pulled out prematurely. We have a range here with euro maintaining strength and AUD loosing strength when checking other correlated pairs. Also interest rate cuts should bring the dollar down further hence the short. Lets see how we go hey.
EURAUD possible wedge in the makingAfter the great short trade we did 2 months ago, EURAUD had made a big rally past weeks and it has to make a correction sometime. With this possible wedge in the making, we might be able to catch the high for a decent correction. It's not a great wedge, because it could possibly be a ascending triangle instead. So i want to see a few more rejections first before thinking about a partial profit.
6th of May aud/eur bullish set up.audeur is looking very bullish at the moment with price heading towards both daily (green) and weekly (purple) support zones.
EURAUD bearish wedgeI have been looking at this one for a while now. It seems the support of that wedge finally broke, so we should see more bearish movement coming period. The lower high is set, but not confirmed yet. Needs to break that green support (break the previous low) around 1.590 first. On the right it seems it broke a support line and now doing a retest of it.
I tend to get in small here, get another small portion when i see it might drop on low time frame and would make it a normal size if that green support breaks. So risking a small amount for a possible big win.
I will also do a swing trade on the side, because it has the potential of a long term play.
Previous analysis:
AUDEUR trading plan week 3. w2 Bullish profits.Overall
On w2 AUD was the strongest against all currencies.
EUR on w2 was one of weakest.
For w3 i will have bullish position
Weekly
Looks like bears losing steam, but still in cotrol of market
Exhaustion candle as well
Daily
Uptrend, good power.
4H
Uptrend, seems reversal pattern has been launched from exhaustoin candle.
Open LONG
ENTRY 0.62900
TP 0.64170
SL 0.62180
RR 1.84
EURAUD possible upwards correction from support areaEURAUD has dropped a lot the past few weeks and went in a straight line towards the current support area. There is the potential for a bounce here and best case scenario we start to see a small wedge developing. If this happens i will make an attempt at the low of that wedge to get in with half a pos and increase it if the wedge breaks upwards.
EURAUD, nice long setupLooks like a solid triangle and a possible inverse H&S. Would be a nice scalp trade trying to catch the correction of the big drop it's made lately. I am going to go long if the triangle breaks and will move the stop higher as soon as we move higher. As soon as i get the chance, i want to move the stop to entry. The daily also shows a possible buy/reversal signal
AUDEURThe market is in a downtrend overall. the candlestick touched the trendline and market reversed.
EUR/AUD - Year High and now to the Downside..1.59EUR/AUD, the monthly candle is extremely bearish after failing to break yearly high's, Breaking the trend line will open up many possibilities and even dropping back to 1.59. Since the 20th of August we have been in a bull trend, Three attempts at 163.550 and all failed.
EURAUD formation and rising analysisEURAUD M30 chart
There are two bowl formations on the M30 graphic, large and small
First target is 1.54xx Second target is 1.55xx
***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***
I'm sorry for the impaired expression..Just watch the chart, not what I write. :)
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EURAUD - Short then LongSee chart for details, break of trend lines should be used for safer entry.
Retracement to 61,8 is support level as well as the fib level - expecting a long from there.
TP and SL on chart.
EUR AUD SHORTEUR AUD SHORT! Just finished a 5 wave elliot which will need an ABC correction. We have also formed a head and shoulders. This should go down to the .618 of the fib which is also where the gap needs to be filled. Ideas always welcome.
AUDEUR Short 1hRejected by the thick red line (monthly structure), below MAs which play a role of resistance, Fib level
EURAUD Trendline breakTrendline has broken and retested. Big volume in the bearish candles. The market also cross and close below EMAs. Sell according to the plan.
Kind Regards,
Michail Sideris
Eur/Aud Short (Feedback IS APPRECIATED)From a long term daily perspective I see it has been in a downtrend. It has retraced up to a level (1.444) it may reverse at or go up a bit (1.4500) more then finally head down to around the 1.42000 area.
AUDEUR-Correction and than towards the upper sideAUDEUR-Correction and than towards the upper side
Trade at S/R Levels and Wave zones
AUDEUR W1 LONG - TRIANGLEAn excellent R2R trade on a massive triangle breakout.
Price had just closed above the Nov 2015 high.
Enter long market, stops below previous week's low.
Target 0.7650. Turbulence expected at 2015's high of 0.7308 - active management at this level is required.
