EUR/AUD Bullish Outlook
Hi, María Here. I am glad to share the EUR/AUD Monthly & Yearly Strategy hope it will help you trade better.
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The pair euro-Australian dollar falls so unusually sharp, from 01 dicembre 2008 recording its maximum at 2.1027 and two years after reaching its minimum of 1.2930, after there be in the range of 1000 pips to 1.4000 by time of year,
The 1.2930 level was a key that prevented the fall of par, yesterday registered a minimum at 1.2857, showing that the pair has a good long way to fall to the level of 1.2082. This is one of the most aggressive major trends in the markets, certainly in the context of serial weakening outside the eurozone following the debt crisis on the continent, and the good standing of the Australian economy as well as the large gap in interest rates, which was expanded in recent years in favor of Australia.
What is very interesting to discover that the pair has not registered even a small technical correction throughout the large drop. We have good reason to believe that there is a possibility that such a correction would get started already in the short term, following the temporary solution and the relative calm in the European debt problem, forecasts predict that it will reduce the gap interest rates between the two countries. It is assumed that even the smallest correction should push the pair to the resistance of $ 1.5350 per euro Australians. It is possible to condition the purchase stance in breaking the support line that accompanies the pair, around 1.3050 and can serve as a trigger for purchase. If the pair does not check that level continues to fall rapidly and can take position of a buy order at 1.2250 long term.
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