EUR crosses/Technical Analysis

Still like the buy-dips play in EUR crosses

     It’s very early days on the long-term EUR/AUD chart but the possibility of a basing formation at multi-decade lows has me quite excited. There’s a long way to go and the market must first overcome its EUR negativity and the teflon AUD must lose some of its appeal, but I can certainly visualise this pair trading back near 1.32 without much trouble (EUR/USD at 1.32 and AUD/USD at 1.0000). I believe that we are in a buy-dips phase in this pair and also in EUR/GBP, where the rise may be less rapid but consistent nonetheless back towards .8500.

Leave a Reply

Your email address will not be published.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