By: DailyForex.com
Currency: EUR/AUD
Trend Expected Direction: Up
Method: Ichimoku, Technical Analysis
Description: The EUR/AUD pair has managed to climb above the Ichimoku Cloud on the weekly chart indicating that the bulls are firmly in control. Pattern on the 4-hour chart suggests the recent retracement is over and the pair is ready to resume its up trend.
Recommendation: Long
Target Area: 1.3150
Stop-Loss: 1.2900
Final Update as of February 7, 2013: ***I am closing the remaining ½ at 1.3139.
Signal Update as of February 6, 2013: **Please close ½ at 1.3109 (we are going to wait 1.3150 for the rest) and move stop-loss to the 1.3040 level in order to protect the pips we have.
