We are at a pivotable point for EURAUD. Price has retraced back to its origin as expected but we do not yet have a confirmation of whether price will bounce and go north or back into the consolidation range.
With the AUD Cash rate easing expectation in week 1 November, I am expecting these two possiblities with 400+ pip opportunity in either direction:
1. AUD Cash rate lowered: Expecting price to rally if rate actually is decreased. End of consolidation zone and target to 1.7100 area
2. AUD Cash rate stays the same: Price will weaken back into the consolidation zone with targets @ 1.6530 & 1.6270
I personally would not enter until we have a good indication after AUD news release. Either way we will net a good amount of pips.
Good luck and let me know if there are any questions.
Charles V
CVFX Management
With the AUD Cash rate easing expectation in week 1 November, I am expecting these two possiblities with 400+ pip opportunity in either direction:
1. AUD Cash rate lowered: Expecting price to rally if rate actually is decreased. End of consolidation zone and target to 1.7100 area
2. AUD Cash rate stays the same: Price will weaken back into the consolidation zone with targets @ 1.6530 & 1.6270
I personally would not enter until we have a good indication after AUD news release. Either way we will net a good amount of pips.
Good luck and let me know if there are any questions.
Charles V
CVFX Management
Nota
AUD Rate in 10 hours, wait for release then trade up or down a few hundred pips. Will update idea after.
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Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.