EURAUD Lower
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I think EURAUD could move lower this week, just testing today though so may not have this going for long.
nice daily Doji recently which implies market indecision. EURAUD moved higher today on the move lower on the Hang Seng index as EURAUD is a proxy to risk sentiment - i think this may be short term though and allows for a decent entry area for EURAUD to move lower.
VIX is lower, the US500 is higher overall and is starting to move higher from the move lower earlier today. seasonals are bullish risk assets typically around now. There was some peak fed pricing narrative news on friday and i think this could continue this week which should mean bullish risk assets and lower EURAUD. we've hit the level we were at prior to russia invasion in late feburary which i think could allow for some resistance in this general area.
sentiment for the pair is estremely high so i think topside movement is limited potentially.
not trading/investment advise, feedback welcome!
nice daily Doji recently which implies market indecision. EURAUD moved higher today on the move lower on the Hang Seng index as EURAUD is a proxy to risk sentiment - i think this may be short term though and allows for a decent entry area for EURAUD to move lower.
VIX is lower, the US500 is higher overall and is starting to move higher from the move lower earlier today. seasonals are bullish risk assets typically around now. There was some peak fed pricing narrative news on friday and i think this could continue this week which should mean bullish risk assets and lower EURAUD. we've hit the level we were at prior to russia invasion in late feburary which i think could allow for some resistance in this general area.
sentiment for the pair is estremely high so i think topside movement is limited potentially.
not trading/investment advise, feedback welcome!
Nota
adding more at 1.568Nota
take profit for initial position is 1.53406 and the second is 1.54009Nota
moving both take profits to 1.53658Nota
taking profit at 1.55390, EURAUD keeps bouncing with a vengeance and i don't like the disconnect we're getting in the market with commodities taking a beating today and risk sentiment higher so i am moving to flat.
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