EURAUD reversal pending

[Mr. Crabs]

Is anyone excited? I think there's a probability worth taking into account that both currencies will snap inversely which could mean big profits for everyone that focuses on it once the signals are in that the reversal has materialized.

 

[NVP]

i'm excited .......

sorry - about what again ?

N

 

[Mr. Crabs]

i'm excited .......

sorry - about what again ?

N

Very funny. EURAUD reversing. I think it could be one of the biggest movers through these next several months.

 

[Doomberg]

Why will this be better than the AUS/USD? Can't figure it out

 

[Doomberg]

Why will this be better than the AUS/USD? Can't figure it out

Excuse my stupidity, i just looked at the charts.. in at 14867 as a short :clover:

 

[traderjoe1977]

Why do you think there will be a reversal? Thanks for your insight!

 

[Doomberg]

Pain, i got stopped by a spike... back in with a smaller position

 

[Doomberg]

Why is no one cashing in on this?

 

[Doomberg]

Just scaled up to 4 positions;

 

[ZaBu]

Just scaled up to 4 positions;

Seems like you are on a different timescale to the OP. Still a nice profit so far.

I guess you have looked at the Daily chart?

 

[Doomberg]

Seems like you are on a different timescale to the OP. Still a nice profit so far.

I guess you have looked at the Daily chart?

Yeah i chose the entries by 5m and 15m but it if it runs i may leave it long term :cheesy:

We can dream, it's currently struggling at support but we'll see

 

[elisab]

The best month of the year is coming to an end for EurAud. The fact that it is not able to overcome 1.50 in August represents a sign of temporary exhaustion of the long-term bullish trend.

 

[Mr. Crabs]

Excuse my stupidity, i just looked at the charts.. in at 14867 as a short :clover:

Ha, looks pretty obvious when you skim the long-term EUR USD and AUD charts doesn't it?

I'm building my position daily, I don't expect the current prices on the EURAUD will hold for much longer. I figure I have 5 weeks tops to fill my position around the current prices. I can only hope that estimate is conservative. I usually get on these reversals far to early.

 

[Mr. Crabs]

Why do you think there will be a reversal? Thanks for your insight!

Check the charts, feel how the EUR recent bullishness impacted the AUD in its' bearishness. Both charts moved inversely, the AUD has every reason to hold its' long term strength despite the recent mod-term correction which means a strong rebound may be in store. This rebound could impact the EUR adversely, which in my opinion has been holding too high for too long without a correction. This implies it is being sold in a relatively tight range.

So my basic intelligence tells that there should be a reversal some time in the near future. Further into vague speculations I suspect the reversal will start out by a heavy decline followed by a sharp bounce near or above previous highs for the year, this will be the nail in the coffin for the EUR's recent bull run IMO.

 

[Mr. Crabs]

Why is no one cashing in on this?

I guess they're waiting for the party to start. We're in here pre-gaming.

Do you hedge?:?::?: I've been clearing out a portion of my sells and buys so I can refresh my lines while I build them up. Racking up a net loss while building my balance sheets.

My lines almost 1/5th full. Hoping this reversal materializes well within the month so I can get my equity back positive.

 

[Mr. Crabs]

Nice observation.

The best month of the year is coming to an end for EurAud. The fact that it is not able to overcome 1.50 in August represents a sign of temporary exhaustion of the long-term bullish trend.

Nice observation.

 

[Mr. Crabs]

EUR appears very heavy ATM.

 

[phoenix25140]

Why will this be better than the AUS/USD? Can't figure it out

I agree with Doomberg, if this is a trade based on the tapering response from the FED then USDAUD will be the one to follow. Chinese data has been better which always helps, seasonally the data can only get better this time of year with electronic goods movements towards christmas.

The RBA intrest rate cut was the big move.

I agree this could be a sell, sit and hold for a few months. The reversal may have started last week with lower highs from 14916 now at 14805

One trade I have been watching is EUR NZD. The fundamentals and technicals are coming together for a nice sell trade this week.

 

[Mr. Crabs]

EURAUD bounce opened itself up for another opportunity to load up some shorts.

 

[Mr. Crabs]

I agree with Doomberg, if this is a trade based on the tapering response from the FED then USDAUD will be the one to follow. Chinese data has been better which always helps, seasonally the data can only get better this time of year with electronic goods movements towards christmas.

The RBA intrest rate cut was the big move.

I agree this could be a sell, sit and hold for a few months. The reversal may have started last week with lower highs from 14916 now at 14805

One trade I have been watching is EUR NZD. The fundamentals and technicals are coming together for a nice sell trade this week.

The NZD was off my radar, I will check it out. I do think the FED is going to cut back soon which will mean additional strength for the USD. That being said I still think there's more potential in the AUD's upside, it is long-term very bullish and its' recent mod-term correction may have only added strength for its' climb into new high territory. If the EUR sells and the AUD catches shorts will cover positions will fill and it will move up quickly. NZD seems to move with the AUD which means an AUD reversal will make for a nice NZD rebound.

The NZD's recent pullback has illustrated a great deal of strength via price fluctuations, EURNZD should be a solid pairing as well. The fact that it has already rebounded prior to the AUD reversing is a very good sign for shorting the EUR, especially when combined with the fact that support on the NZD looks strong. Thanks for the input, it has aided to my confidence on calling this trend at an appropriate time.

But only time will tell for sure.