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Several days ago when i was analizing several pairs for the tehnical analysis contest i also took a look at the EUR/AUD. I didn't suceed to post on time this analysis but the work done wasn't in vain. I rembered this pair because it has an excelent potential for a bullish run of at least 300-500 pips very soon. My point here is also backed by recent RBA necesity for a weaker aussie to boost the economy rather than a last resort solution like an interest rate cut,which they said is very likely.
With that in mind and thinking of the released RBA interest rate decision to maintain the current 2.5%, i placed a 5 mil buy order , above yesterday's current price having in mind that euro recent momentum was very strong against all currencies and also from a tehnical point of wiew ,i expected a sharp bullish tun towards 1.5181 as i sow some similar price action in the past ,as can be seen on the picture bellow.
All things have gone as planned and the order was took today at 00.30 AM and closed 7 hours later because of trend reversal , taking 82 pips and over 36 K profit.
With that in mind and thinking of the released RBA interest rate decision to maintain the current 2.5%, i placed a 5 mil buy order , above yesterday's current price having in mind that euro recent momentum was very strong against all currencies and also from a tehnical point of wiew ,i expected a sharp bullish tun towards 1.5181 as i sow some similar price action in the past ,as can be seen on the picture bellow.
All things have gone as planned and the order was took today at 00.30 AM and closed 7 hours later because of trend reversal , taking 82 pips and over 36 K profit.
