EURAUD Dynamics Changed

By Lawrence

Since BOJ intervention, and that jawboning by Fed and China to counter the measure, many pairs are showing signs of major reversal in play.

Take a look at EURAUD.


Notice how nicely the bounce has worked out and that the target (and reversal price level) has behaved completely within my expectation.

The darn thing is that the short trade only worked out partially.

And now with such a huge 1-2-3 buy in place, 50% expansion to the upside of current week range is very likely.