EUR/AUD Potential Breakout

EUR/AUD in an interesting Triangle with a potential break-out coming soon:

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  • Paul

    Well done Nathan!

    Your ‘call’ on the GBP NZD is definitely going as you thought so far. Have you considered harmonics (often you can find movement ‘legs’ are similar in size, thus the previous down wave (1.93 to 1.85) would suggest this one could be 1.89 to 1.81. Or fib extension (taken from 1.93 to 1.85), gives a 1.61% @ 1.80, also a nice psych. round number level and a 2.61% @ 1.72

    Thanks for pointing out the EUR AUDset up, I don’t monitor this pair, but the price action looks very interesting, if we see more tightening and then a convincing break higher

    Finally, you were also right on the cable weakness. I took the reversal ‘pin bar’ offered yesterday, but clearly that one failed. I haven’t got my USD CAD short entry level yet either, lets see how today plays out

  • Pete

    Thanks again Nathan. I’m looking forward to soon learn how to easily spot the trends you seem to notice effortlessly.

  • Kovaxbel

    Excellent analysis, as always! Nathan, a technical note: could you please log out for ten minutes from Gmail, Skype, MSN or whatever notifications you keep getting during these videos? The notification sounds are really bothering and I tend to constantly check my own messages as I hear them. I bet I am not the only one. Thanks!

  • I can understand Dean’s question because as far as I am concerned the breakout is over 200 pips away and I certainly wouldn’t use the triangle, since there is a potential resistance just above the triangle.

  • Dean, Nathan uses the Daily time Frame.

  • Dean

    What time fame do you use for your analysis?