EURAUD Forex cross-pair is in a clear uptrend with a very strong weekly demand level in control. We cannot go short if we have a clear uptrend and a very solid demand imbalance in control.
We expect the price to rally higher per our supply and demand technical analysis. EURAUD forecast and trend are bullish, and buy opportunities are being created. We should be long already on this one, and so are members of the Set and Forget trading community. On top of all this, the Aussie (Australian Dollar) is getting very weak on all Aussie Forex cross pairs. This kind of correlation will help long positions on this Forex cross-pair.
This is the kind of price action technical analysis you will learn in our online trading academy. You will learn how to locate new supply and demand imbalances and trade without using any indicators, no news, no fundamental analysis, no earnings announcements, no volume or VSA analysis. Just supply and demand imbalances.
Trading supply and demand imbalances is ideal for beginners and those with full or half-time jobs. You won’t need to stay in front of the computer all day long trying to move price action with your mind.
As supply and demand traders, we do not need to pay attention to the news, fundamentals or any earnings reports. Once a big timeframe imbalance has gained control, earnings do the opposite and react strongly to those imbalances. Why do you see positive earnings, then the underlying stock drops like a rock, or a negative earnings announcement and the stock rallies like a rocket out of control? You are probably missing the fact that there are big imbalances in gaining control.
You should not worry about fundamentals or earnings announcements unless you do very short-term trading and scalping.
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