AUD,NZD/EUR crosses/Flows and Orders/Technical Analysis/Trade Ideas

EUR/AUD: Looking to sell rallies towards 1.4460

This is a lovely technical set-up which delivered a quick 100 pip return yesterday so why not see if lightning can strike twice. There is a possible double-top formation with a neckline at 1.4460 (see chart). I’m looking to sell a failure at this level with fairly tight stops above 1.4485ish.

  1. Yes Mike, I do. I think we will enter a phase of EUR weakness in next few months as mkt focus returns to EZ banking issues. I think we will see this pair trading back 135/138

    1. Thank you Sean for the reply.
      But how would you view RBA’s stance on their report/meeting that they regard AUD as high and continue to indicate that they want a lower Australian dollar?

  2. Hi Sean,

    Regarding EUR weakness, how do you see EUR/CHF?
    I saw your post yesterday about following EUR/JPY’s course, potential targeting 1.2215, but, it is possible to see it dragged up by USD/CHF due to a downside in EUR/USD?
    hoping to be coherent 🙂
    Regards,
    Bogdan

  3. Hi Bogdan, I find it hard to be bullish on EUR/CHF. Intervention never works. The SNB cannot hold it forever and their very presence distorts the market. We’ve been trading within 5% of the ‘floor’ for 2 years now; this can’t go on forever.
    Short-term I’ve got very little idea and prefer to concentrate my energies elsewhere. Sorry not much help.

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