Hey guys, hereI'm looking at a potential bearish position on EUR/AUD. Price has entered into a zone of monthly support/resistance. Price may become volatile as we look towards the ECB and RBA both releasing their interest rates within the next 2 weeks. The Euro and Aud will both be currencies to watch- it'll be good to see how these to battle it out!
I'll be keeping an eye on this pair and looking for a possible entry.
Bat Ratios
B = 0.382-0.5
C = 0.382-0.886
D = 1.618-2.618
X to D = 0.886
I'll be keeping an eye on this pair and looking for a possible entry.
Bat Ratios
B = 0.382-0.5
C = 0.382-0.886
D = 1.618-2.618
X to D = 0.886
Commento:
This pair has been up trending since 2017 and may be due some consolidation. Especially since both central banks are soon releasing interest rates. Price may begin to range around this monthly pivot level.
