Danske Bank - "EUR/AUD Strategy summary – buy at 1.4170 for an objective of 1.5250. Place stop at 1.3860.
EUR/AUD saw a strong rally from a low of 1.2215 on 3 April this year to a high of 1.4415 on 20 June. Since then the market has traced out a shallow three-wave correction before attempting to resume the prior trend and posting a minor fresh high of 1.4480 on 12 July. Although we have already seen a substantial run-up, trend momentum remains strong and scope is seen for further…
Added by Francesc Riverola on July 29, 2013 at 2:03pm — No Comments
Societé Generale - "Our Technical analysts see a move in AUD/USD to 0.99 or so, even within the context of the longer-term downtrend. In terms of EUR/AUD, a 38.2% retracement of the recent rally would take us down to 1.34 and that seems a reasonable target. 1.4150 is a viable stop above here. On the EUR/USD side, a lot of bearish sentiment in the European economy and in the currency has been flushed out by the last month’s jump in PMIs. That means that a further PMI gain is now priced in and…Continue
Added by Francesc Riverola on June 17, 2013 at 4:09pm — No Comments
ANZ -"· There are at least five reasons why EUR/AUD will rally: the realisation that Cyprus was in fact special; an asymmetry in the reaction of EUR and AUD to global growth; the risk of a policy response if AUD appreciates but not EUR; new dynamics in China; and, the coalescing of these factors at extended levels.
· The key risk to a long EUR/AUD position is the continued leakage of foreign exchange reserves out of Europe and into the new “emerging” reserve currencies, of which the…
Added by Francesc Riverola on March 26, 2013 at 9:45am — No Comments
Westpac - "The return of genuine political concerns in the Eurozone should continue to chip away at EUR/USD multi-week while AUD/USD trades broad ranges, leaving EUR/AUD biased to further decline near term. EUR/AUD 1.2350 is the next target but Nov’s 1.22 lows are probably just out of reach so long as Australia’s domestic outlook is soft enough to keep the RBA warning of further monetary easing. The ECB’s bond market backstop plan also argues against substantial further EUR/AUD…Continue
Added by Francesc Riverola on March 19, 2013 at 12:44pm — No Comments
Westpac - "EUR/AUD is showing tentative signs of pullback after a steep rise. Near term the pair should consolidate around 1.2930/1.3050. Given evidence that Japanese investors are rebuilding EUR holdings partly at the expense of AUD, risks for EUR/AUD are to the upside over the next 2-3 months, perhaps as far as 1.33. This will depend on the Eurozone maintaining its improved financial conditions – hardly a certainty given the rolling political crises of the…Continue
Added by Francesc Riverola on February 5, 2013 at 12:21pm — No Comments
Here Is my EUR/AUD H1 chart. Upcoming major resistance @ 1.2730 zone.
looking to place a sell limit order for a quick bounce down to…Continue
Westpac - "Our base case for a decline in both AUD/USD and EUR/USD into year end implies most EUR/AUD trade is contained within a muted 1.22-1.25 range. In early 2013 however, the prospects are increasingly negative for EUR/AUD as the end of the RBA easing cycle looms while the Eurozone recession drags on and Greece and Spain continue to weigh. This should see EUR/AUD back to 1.19 or lower."
Added by Francesc Riverola on November 19, 2012 at 11:04am — No Comments
Westpac - "EUR/AUD risks remain to the upside multi-week, targeting 1.30. A bailout / backstop for Spain and approval of Greece’s quarterly loan tranche seem likely in Nov, supporting EUR sentiment. AUD in contrast should struggle as the RBA cuts the cash rate again and stands ready to ease further, while it seems too early to call a bottom in the Chinese growth cycle."
Added by Francesc Riverola on October 23, 2012 at 7:38am — No Comments
ANZ - We recommend four views into the coming event risk: (1) Short SGD/MYR, (2) Long USD/IDR, (3) Long EUR/AUD, and (4) Short AUD/NZD. The world feels like it is entering a GFZ; a growth free zone. Fortress Asia has found that Europe has stolen its export crutch, and China is adjusting to slower investment growth. The event risk calendar, obviously, is packed.
Added by Francesc Riverola on August 31, 2012 at 3:15pm — No Comments