Ghost Traders FX | EUR/AUD Short Trade Analysis

EURAUD | GTFX Core Strategy Setup



Pair: EUR/AUD
Bias: Short

Reasons: EUR is fundamentally weak on a macro-economic level right now, generally unattractive to big money with such low interest rates and the high likelihood of further cuts. AUD on the other hand even with some of the overseas tensions causing some volatility, is still attractive due to the higher interest rates. This spike up has formed with almost no foundation and left a major liquidity target resting below around 1.601.

I don't see EUR/AUD turning around until a major change on the macro-economic level for both currencies.

Considerations: The market is quite volatile at the moment, and as such, I would exercise caution on any higher timeframe assessment setups as things have been reliably unpredictable of late, translation, use low risk until elections are finished in the US.