Currency market: GBP/AUD vs EUR/AUD

Brian Twomey Brian's Investment

32 AUD/EUR pips inform from the RBA today's EUR/AUD day trade range is located from 1.6097 to 1.5933. At a current price of 1.6028 and today's highs at 1.6048, EUR/AUD day trade today is short to target 1.5933. AUD/USD informs from weekly and daily trades too long drops until AUD reaches at least the middle 0.7400's. AUD/EUR 32 pips forecast exactly and correctly 100 ish EUR/AUD pips.

27 AUD/GBP pips inform from the RBA, today's GBP/AUD range is located from 1.8752 to 1.8850. GBP/AUD 1.8752 and 1.8850 trades in the overbought stratosphere and also targets easily 100 pips lower to 1.8635 than 1.8575. AUD/GBP 27 pips informs easily 100 GBP/AUD pips to trade by the calculator.

AUD/GBP for the past 3 weeks of day trades informs to GBP/AUD tops and short entries and targets to trade by the calculator. While AUD/EUR offers EUR/AUD ranges, entries, and targets, AUD/GBP serves its purpose currently as the GBP/AUD signal pair to EUR/AUD.

Short GBP/AUD 1.8752 corresponded to EUR/AUD short around 1.6046 to alert to short both EUR/AUD and GBP/AUD and take both pairs to 100 pip lower targets. EUR/AUD only contains 50 ish pip more upside potential to an already deeply overbought currency price. Easy short decision.

100 pip targets applied to Fibonacci as the traders greatest enemy then 76% offers 25 ish pips, 50 pips at 50%, and maybe 75 pips at 38%. Cheated from not only pips on a solid day trade but GBP/AUD and EUR/AUD contains the potential to trade to GBP/AUD 1.8500's and EUR/AUD upper 1.5800's for greater gains than 100 pips.

As written Sunday to weekly commentary, short GBP/AUD at or slightly above 1.8700's and apply this strategy all week. Written on this day is short GBP/AUD at or slightly above 1.8700's and apply this strategy all week. By this 2nd trade day, traders should've had at least 2 or 3 good short trades accomplished. By Friday, many more short trades will complete.

The greatest lesson if a lesson applies is to short overbought prices and long oversold. But never long an overbought price nor short oversold. Fibonacci represents the greatest theft of profits. Ask this question. When Central banks trade day, weekly or long term trades, is Fibonacci applied. Of course not and never considered to central bank red or blue books.

Author

Brian Twomey

Brian's Investment

Brian Twomey is an independent trader and a prolific writer on trading, having authored over sixty articles in Technical Analysis of Stocks & Commodities and Investopedia.

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