EURAUD: BULLISH EXPANDING 🔺
BIAS: BULLISH 🔺
TECHNICAL PROJECTION: BULLISH 🔺
We have a H4 breakout bullish confirmation, bullish momentum is expected to carry to 1.556 target.
AREAS OF INTEREST:
H4 time frame, bullish breakout confirmed- will be attempting to join in the "E wave" by break & retest method.
FUNDAMENTAL PROJECTION:
AUD is weak and will become weaker as it gets weighed down by lower commodity prices. The markets await the upcoming rate decision where there is a possible chance from 25 bps to 50bps on 5th July, which may bring strength to AUD... but until then we will be playing AUD weakness!
EUR:
As ECB President Lagarde indicated, the ECB would be looking to the CPI data as a guidance to their interest rate decision. A higher than expected CPI data which was revealed on Friday (8.6% Previous: 8.1%) could spur the ECB into a more aggressive policy adjustment which will strengthen EURO.
TECHNICAL PROJECTION: BULLISH 🔺
We have a H4 breakout bullish confirmation, bullish momentum is expected to carry to 1.556 target.
AREAS OF INTEREST:
H4 time frame, bullish breakout confirmed- will be attempting to join in the "E wave" by break & retest method.
FUNDAMENTAL PROJECTION:
AUD is weak and will become weaker as it gets weighed down by lower commodity prices. The markets await the upcoming rate decision where there is a possible chance from 25 bps to 50bps on 5th July, which may bring strength to AUD... but until then we will be playing AUD weakness!
EUR:
As ECB President Lagarde indicated, the ECB would be looking to the CPI data as a guidance to their interest rate decision. A higher than expected CPI data which was revealed on Friday (8.6% Previous: 8.1%) could spur the ECB into a more aggressive policy adjustment which will strengthen EURO.
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