Currencies  |  March 26, 2013 06:55:58

It is the pair EUR / AUD suitable opportunity for trade?

Currency pair EUR / AUD during Monday plunged nearly 200 pips. The whole situation is seen in the chart, and it does not cost any more to describe in detail.
Currency pair held in descending channel since January this year and tonight he got slightly below the lower limit. It is clear that the Cyprus crisis has had a significant influence on the decline and, if no more surprises, the euro is likely to align back to nastoupeného channel.
The market has long been expected when there is a reduction in Australian interest rates. Glenn Stevens in his speech expressed his belief in the stability of the Australian and basically Australia fit into the role very economically stable country.

For the longer term, this could be an interesting pair to trade BUY with a target value to 1.2500, which at the moment is 200 pips. Of course, with regard to all the detention and thoroughly sophisticated money management. I myself love the label, so humanly speaking: Do not give the store more money than you can afford to lose and think that tomorrow I want to trade again.
I do not want to disassemble the form of trading on Forex. It is every thing, as you build your strategy, and which stores it and considered risky.
Here it seems to be a low risk just because the course is located on the S / R level 1.2290 and there is a possibility of reverse indentation. If you really bounce rate, the euro will be corrected at least Monday's loss, and returns the Fibonacci theory should get at least a 50% decline.

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