EUR/AUD Bulls Could Seek To Buy Dips Ahead Of A Potential Breakout

//EUR/AUD Bulls Could Seek To Buy Dips Ahead Of A Potential Breakout

A bullish trend structure has been developing nicely on EUR/AUD, which could extend gains following an anticipated correction. Its trend has been supported by a diverging theme between AUD and EUR, which involves a dovish RBA, expectations for a Fed easing cycle (weaker USD/stronger EUR) whilst traders have been extensively net-short Euro and beckoned a sentiment extreme. On a closing basis, the daily chart is trading at its highest level since October 2018 and yesterday’s high reached its most bullish level since January’s infamous flash crash. And, as we’ve seen two higher lows leading into resistance, and the leg … (full story)

2019-06-14T11:14:25+00:00