Comments on: EUR/AUD technicals: Favour deeper retracement towards 1.2350

By: Sean Lee

Sean Lee — Wed, 10 Oct 2012 06:20:33 +0000

The AUD/JPY surely is tricky, as I found to my cost earlier in the week, but I do think we will get a bearish break sooner rather than later and your ‘precipice’ description is apt

By: Iridium

Iridium — Wed, 10 Oct 2012 06:07:27 +0000

EURAUD is very interesting indeed!
Monthly view: the EURAUD could easily above 1.30, even 1.50!.
Weekly view: the EURAUD is very overbought (after being extremely oversold) and should correct downwards.
Daily view: At 1.2550 (horizontal resistance), the EURAUD should be able to rebound. It has already shrugged off enough of its advance to be able to restart its upward trend.
4H: the EURAUD is well oversold and should rebound!

Now to make the link with EURUSD and AUDJPY and AUDUSD: the EURUSD will soon hit an area of potential very strong rebound. On the other hand, the AUDUSD and most importantly AUDJPY are both on the edge of the precipice based on a major slowdown in the chinese housing market.

So, we just need a kicker to start the party. That what it seems. Also I should mention that the employment numbers that are coming might be a positive surprise because unemployment is often a lagging indicator of the economy…So it’s tricky! And EURAUD is very very excessive in its movements…

By: Nachiket

Nachiket — Wed, 10 Oct 2012 04:55:42 +0000

I think 1.26000 is history now

By: Nachiket

Nachiket — Wed, 10 Oct 2012 03:14:27 +0000

have a feeling tomorrow may be a eventful day for aussie. if unemployment rate is bad those stops at 1.0150 might go

By: Sean Lee

Sean Lee — Wed, 10 Oct 2012 02:56:41 +0000

Txs Nachiket, looks like is starting to move

By: Nachiket

Nachiket — Wed, 10 Oct 2012 02:29:44 +0000

sorry 1.2593

By: Nachiket

Nachiket — Wed, 10 Oct 2012 02:29:25 +0000

Sean,

two things I noted. the fall from 1.2830 to 1.2590 took just 2 days. so its quite sharp. in this entire fall aussie has not once tested 1.0250. so technically it is still weak.Its just that euro is more weaker. a point will come where euro fall might just get arrested for time being. so I am doing a contrarian buying at 1.2693

By: Sean

Sean — Wed, 10 Oct 2012 01:42:36 +0000

I think we need a clear break of 79.30 which would be 60 pips from the 79.90 area but that has been a good area of apparent bids. Maybe we could have had a false break of 79.90 today. we are flirting with that level now.

By: Sean Lee

Sean Lee — Wed, 10 Oct 2012 01:37:24 +0000

Definitely agree Sean if/when this support breaks there will be vertical fall imho

By: Sean

Sean — Wed, 10 Oct 2012 01:19:03 +0000

Been scalping AUD/JPY for a week now. 10/20 pips every few days. We, I think are at an important level of 79.90. We closed below that at the end of NY session. Draw a fibo from 3/19 to the low of 6/1 of this year. we are at the 38.2 level. That area has been “important support” imo. What do you think?