Looks like some EUR/AUD selling going through
Like The Guru just mentioned, macro hedge funds are buying AUD/USD and I suspect that they might be selling EUR/AUD through the legs as EUR/USD has dipped by 25 pips in this period.
Hugely important technical resistance close by in the cross and a weekly close below 1.4400 might encourage some big profit taking.
Thank you for the update. Will try to build short on EUR/AUD (several days time horizon). It starts to look quite interesting. A bit afraid of possibility for exhaustion spike.
How’d you go with AUD/NZD? 11725/50 support held well, should test 12000 sometime soon
Morning Sean. I’m with you on staying on the sidelines. I am only down 40 pips on the week. nothing major for me. really can’t be in front of the screen seeing I have been working a lot this week. However it is worth taking a look at aud/jpy’s hourly char and 4 hr chart’s. if you draw a trend line from the high of 93.70 area the lines have been touched 3 times. imo it would be a worth a short seeing this pair has been trading really well in regards to tech analysis.
Thanks Sean. I have started closely watching it. I ll try a small short towards the end of this week if it remains within 1.44. Regards, Pete
Hi Sean, I am keeping AUD/NZD (it is still slightly underwater), got a little bit of AUD/USD long and now adding short EUR/AUD. have also tiny short in GBP/NZD just for the heck of it. so pretty much counting on counter rally. Nothing crazy, S/L will consider in 150-200 pips below. Cheers, Kirill
With news that some covering was afoot in AUDUSD I managed to get long again at 0.9203 but with higher prices on low volume I squared up above 0.9240
Thanks for the info!