EUR & AUD - Market Barometer Update
Hi guys, the short term barometer (top chart) has an 'unnatural' pattern. I've see this before. After a quick push like this, the market usually snaps back in the other direct. These pushes are usually quick with very little consolidation. Just like now.
On the long term (lower chart): the EUR and AUD are over extended in opposite directions. The EUR is definitely over-sold. The Bears are no doubt pilling on right now, but I've seen this before too. Later today, when the Bear rally reverses, everyone will scratch their heads and wonder why. We'll see if I'm right :D
This is not investment advice, just my opinion(s). Please trade accordingly.
Trade safe and keep an eye on news.
On the long term (lower chart): the EUR and AUD are over extended in opposite directions. The EUR is definitely over-sold. The Bears are no doubt pilling on right now, but I've seen this before too. Later today, when the Bear rally reverses, everyone will scratch their heads and wonder why. We'll see if I'm right :D
This is not investment advice, just my opinion(s). Please trade accordingly.
Trade safe and keep an eye on news.
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