CONTRARIAN EURAUD play
So I have been waiting for commodities currencies bulls for quite a while, BUT WHERE ARE THEY?
The election results was good but a dovish Aussie Central Bank reversed almost all of the aussie strength.
Nonetheless, price action seems overextended and we may see some weakness in Euro PMI numbers - which MAY trigger the decline in EURXXX (and hence EURAUD).
The election results was good but a dovish Aussie Central Bank reversed almost all of the aussie strength.
Nonetheless, price action seems overextended and we may see some weakness in Euro PMI numbers - which MAY trigger the decline in EURXXX (and hence EURAUD).
Penafian
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