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Short EURAUD - Fundamental and Technical Analysis

Singkat
Euro / Dolar Australia (OANDA:EURAUD)  
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OANDA:EURAUD   Euro / Dolar Australia
Trend Analysis Fundamental Analysis EUR aud Coronavirus (COVID-19) brexit
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trendanalysis fundamental eur aud coronavirus brexit
Fundamentals:
  • Europe is entering the winter season and fears of a second wave is on the horizon. Cases are steadily increasing.
  • Australia is approaching the summer season after a relatively low number of covid AND flu cases in the winter season.
  • Brexit talks this week with a gloomy outlook. Brexit shouldn't heavily affect the Euro, but it could, and the outlook seems bearish.
  • Australia's economy hit rock bottom last month with the government announcing a budget deficit. All else equal, the budget deficit should boost the Australian economy and thus the AUD.
  • China's economy is showing signs of a recovery. AUD is strongly positively correlated with the CNY.

Conclusion:
- Bearish EUR
- Bullish AUD

Technicals:
  • Price was rejected at a key supply area 1.65558
  • Price is trading at a downtrend in the lower time frames (H1)
  • Price is flirting with the 23.6% Fib level
Komen:
TP1 hit. Close 1/2 position. Keep SL - this is just a correction
Dagangan ditutup: sasaran tercapai:
TP2 and TP3 hit
Penafian

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