EUR/AUD: Correction To Extend; Not Targeting A Specific Buy Level Yet – NAB

NAB FX Technical Strategy Research anticipates a further downside correction in EUR/AUD over the coming weeks.

This is a high probability outcome. While we see this correction bottoming out between 1.42 and 1.46 we do not wish to target a particular  level to buy.

We will watch the market closely once  our minimum downside target is achieved at 1.4616  for price and momentum triggers that confirm a high probability MT low. Subsequently we target new 2017 highs (1.5227+),” NAB argues.

EUR/AUD is trading circa 1.4705 as of writing. 

Source: NAB Research

The article is published by one of the foremost sources of Forex trading information. Link to the original article above.

from eFXNews http://feedproxy.google.com/~r/Efxnews/~3/-HUypWdKkKg/euraud-correction-extend-not-targeting-specific-buy-level-yet-nab

from Online Forex Trading Resource
View thesource article here

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s