EURAUD Short

[bigbax699]

Good morning all, having a look back on EURAUD again today. It has been the biggest mover for us of late so keeping in touch with the movements we are looking at a possible setup again. A good few of the EUR pairs have hit big area's of demand, as you can see on the 1D chart on the left it touched into the weekly demand zone and wicked right out, showing big buying pressure. just because price is bearish and has been very bearish recently doesn't mean it has to keep moving down forever, price has to reverse at some point, and that big demand zone is as good as any. We have a lot of imbalance left behind on the daily TF due to the quick moves down recently so plenty of targets to aim for to be filled. So im going to go out on a limb and look for a buy back up around here if todays daily candle finishes as a <50% candle, then ill enter. WE have had plenty of returns off this pair recently so can afford to take this possibility. GLIYF

 

[sebking1986]

AUD and NZD are relatively strong at the moment anyway but EUR is a chocolate teapot currently.

It looks to have reacted well from your entry actually. The movement on this pair is mad though. Blink and the range is 150 pips in no time.

 

[Treacle]

can't see it going up just yet. Way too much uncertainty in the EU at present

 

[Jim B]

This did make a hell of a drop has been trying to come back up by the looks of it though still had some good opportunities to short this week too.

 

[pezz55]

hope you managed to take some profit on the retrace of the move as we pulled back about 40% of the over all drop but we look to be falling all over again

 

[SimonMatthews]

Nearing the low of earlier this month, do we think it's going to bounce of the resistance level and on for a bullish run? I am thinking around 1.460 level.

 

[Glastonburyk]

THE ONE THAT RAN AWAY! Good morning all, today's update is more of a lesson as to why it is good to just leave some of your original position to run or come back to hit your SL (which would be in profit anyway). Usually I always leave a runner but we had such strong movement on EURAUD I was expecting a pullback in price, so I took the whole profit at TP2. Well this was a kick in the butt, as you can see the EUR has died! Price has continued in our direction and is currently 1131 PIPS IN PROFIT! That's a 1:20 R:R return from our original entry. Crazy movement, we earnt good returns from this trade but ALSO learnt a good lesson too. There doesn't even look like there could be somewhere we could join in this trend. Demand was broken and looks like we will be visiting weekly demand zone below. Will recap it again next week sometime and see how price has played out.
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Let your winner run guys this one ran a marathon

 

[TareqS]

The price has been very bearish in the daily chart. It is traded around the level, where the price had a strong bounce. Thus, the buyers may wait for the chart to produce a bullish reversal candle to go long in the pair. A bearish breakout followed by breakout confirmation may attract the seller to drive the price towards the South with more momentum though.

 

[bigbax699]

Good morning all, if you watched my YT video from the weekend you will have seen the entry I was looking for on EURAUD . Price found a level of support in this demand zone which has given us our trade entry. Looking for a TP at the supply zone created above which will return us 1:5 R:R. EUR looks to be forming support on most pairs at the moment so lets hope it grows a pair. Fairly easy trade to follow this one. Will update again in a few days. GLIYF

 

[FriendlyFX]

Lovely RR to on this I'm going to take partials on the intermediate DZs you've marked out