EUR/AUD: Don’t expect any big retracements

Strong uptrends like we are currently witnessing in EUR/AUD seldom suffer sharp retracements and I think the most that the bears can hope for is a period of consolidation.

If you think it’s getting overbought, then stick a ‘silly’ offer in somewhere 100/150 pips above the market and then look to book your 200/250 pip profit on dips when consolidation sets in.

  1. Well said Sean. I was shorting for a double top at 1.36 the day before but quickly got stopped out. Fortunately I left it alone since then. It is futile to fight this strong trend.

Leave a Reply

Your email address will not be published. Required fields are marked *