This pair trends beautifully and it would be great to catch one of its long trends, but I think I’ve missed the big trend. However, it still looks very bullish, with EU bumping up against the top and AU unable to get up from the mat yet. The pair has also generated a fairly reliable long signal, so its worth taking a long.
However, because it is such a volatile pair and the spread is 8 pips, I am taking a very small position in this trade.
Long EURAUD $3/pip at 148.83. SL 148.13.