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  • Opinions - Not Facts

    This blog consists of contributions from FXCM staff, executives and people that have a relationship with FXCM. In spirit of a blog, the posts are conversational and opinionated. However, they are not official FXCM policy and not double-checked for facts. The authors are providing information that they believe to be true or opinions they hold. To verify information or check official FXCM policy, please contact FXCM through the firm's official website, www.fxcm.com.

    • « Trading NZD / JPY - Flat | Home | Is the Euro Headed to 1.50? »

    Trading EUR / AUD - Sellers Stopped Cold?

    By Eliseo Agas | November 7, 2007

    Check out the EUR/AUD Daily. We have a rough double bottom indicating that sellers may have finished their onslaught…for now.

    The 4-hour chart shows buyers powering up. This is as good as any a point to test the waters with a small probing trade. If we see a break above 1.5740 bid I’ll fee a lot more confident that sellers have probably stepped away.

    If on the other hand price action breaks below 1.5495 bid then I’m out.

    EURAUD Daily

    EURAUD 4 Hour


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    Topics: Better Use Charts - Use Charts Better |

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