This EUR/AUD downtrend has shown the best of what the FX markets offers to traders. These trending moves in the FX markets can last for years making the practice of trying to pick tops and bottoms challenging, but hardly profitable. Trading with the strongest trending moves increases our chance of success and may be perhaps the biggest edge these markets offer to the trader. I would continue to look for selling opportunities on any strength in this pair until that time we can confidently say that the trend is no longer one of the strongest. That may be a couple of weeks from now or may be in another year. There is just no way to know, so we will stick with it until we can find a stronger trend to trade.
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.