Taking Another Shot with EUR/AUD

My previous EUR/AUD short may not have gone my way but that doesn’t mean I’m gonna give up trading this pair. The bearish fundamental bias is looking a lot stronger these days, as the ECB is expected to be more dovish with their rate statement while the Australian economy has just released an upbeat jobs report.

EUR/AUD Daily Forex Chart

EUR/AUD Daily Forex Chart

The pair has already bounced off the support-turned-resistance area at 1.5000 and is showing enough selling momentum at the moment. In fact, there’s a neat bearish divergence with stochastic making higher highs and price making lower highs.

Think I should jump in ahead of the ECB rate decision?

Cheers!

Happy time

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4 comments

  1. Jake

    Now there is the pullback you needed for you to get into this trade.

    I’m not too sure about jumping in ahead of the ECB rate decision though.

    Reply
    • Happy Pip Post author

      I was unsure too, but I just had to take the risk! Looks like it worked out pretty well, got another push too from the Bundesbank statement. Let’s see how it goes from here. Did you take any euro trades lately?

      Reply
  2. Pingback: Forex Trade Update: EUR/AUD Short | Forex Blog: Playing with Comdolls

  3. Pingback: Forex Trade Adjustments: EUR/AUD Short | Forex Blog: Playing with Comdolls

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