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Long EUR/AUD

Long EUR/AUD

2011-03-29 11:43:00
Joel Kruger, Technical Strategist
Share:

A monthly reversal from deeply oversold levels in January forced a shift in the overall outlook for the cross, with our bias turning aggressively bullish. As such, we view the latest inter-day pullback as a formidable opportunity to buy back into the newly established up-trend, with market declines stalling by some shorter-term rising trend-line support off of the early February lows. POSITION: LONG @1.3755 FOR A 1.5000 OBJECTIVE; STOP 1.3555.

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