Buy Euro against the Australian Dollar

2 Sep 2020

Hello, this is my first analysis of the par Euro/Australian Dollar, it's beatiful to compare it.

So, we have a consolidation forming in this par, but with expectative so bullish, so the trend is sleep and we wait it.



So, in H4 timeframe we see that Euro show a neutral news, as Reserve Bank of Australia have good news for this weeks based in the Australia's economy recovery.

So, we hope a buy of Euro!!!

Also, for tomorrow, I will going to make a special technical analysis of this par about the weekly and monthly timeframe based in the situation and condition of the market based in the European Union and Australia Ministery (Australia's Governor)

Fundamentals Keys:

1. GDP numbers sink the AUD as focus shifts to the EUR and the Greenback in the par EUR/AUD
2. GDP numbers from Australia's economy may have veered from the Reserve Bank of Australia base scenario, weighing on the Aussie ahead of stats from Germany and United States
3. In the 2nd quarter GDP numbers provided direction early on. In the 2nd quarter, Australia's economy contracted by 7%, following at 0.3% contraction in hte first quarter.
4. The economist had forecast at 6%. This mean the largest fall on record since 7% of correction of Australia's economy, signaling a low recovery while the famous par AUD/USD is gaining and strenghten its value, Aussie it's be recovery as Australia's economy is recovery soon!!!