EUR/AUD: If you’re looking for a bearish entry level…
This pair has come 20 big figures and will soon run out of steam in my opinion. I think EUR/JPY is susceptible to a sharp profit-taking sell-off but the AUD has done most of its bearish work already.
Therefore I think EUR/AUD may be a good sell somewhere, looking for a move back towards more mid-range levels at 1.34/1.35.
The level I’m looking at is near 1.4350; I will sell smalls there and if a top starts to form then I will look to sell more.