EURAUD Space Trip

A rare guest in our technical analysis – EURAUD. There is no point to show you any smaller time frames, because the pair is going up with almost only green (blue on our charts) candles on 1H, 4H, daily and weekly. We were expecting a strong resistance at 1.4000 round figure – it did stop the beast several times before. At the same level was weekly 200 EMA, plus candles started touching our Bollinger Bands, which are 3 deviations apart against normal 2. To be fair, EURAUD did stop at the level. But only for a week and never even considered to show any change-of-the-trend patterns. So, where are we going? Sky is the limit?

If you were smart/lucky enough to long the pair below 1.28 – you have a good chance that it will make you even more rich. But if you entered above, or even thinking about buying it now – that is far far too risky. Yes, we do think it is going to hit Monthly 200 EMA and stall only between 1.53-1.55. But it is a cross pair,heavily depending on it’s major contributors EUR and AUD technicals and fundamentals against USD. It can have a little dip before going, taking in account how overstretched is all buying momentums on all timescales.

Leave a Reply