EU 1.4930 with SL of 1.4880 has proved to be a very good buying point. Unfortunately I missed the trade. It indicates that a support (or resistance) will be very reliable if it used to be a resistance (or support), and this previous R/S has been visited for 3-5 times in a Daily chart.
Both EU and AU, as well as GU, are quite interesting. Today's AU high (0.8952) is a 38.2% Fibo from last Friday close to open (0.8948), while Today's EU high (1.5083) is exactly at 23.6% Fibo from last Friday close to open (1.5083).
AU support: We have shown an AU support at 0.876~0.877 in one post on August 7. Stronger supports are at 0.8311~0.8432 and 0.80.
(1) 0.8311 is the cross point of a monthly TL from 2001.9.1 low to 2007.8.1 low, and 50% Fibo from 2004.6.1 low to 2008.7.1 high.
(2) 0.8432 is the cross point of a monthly TL from 2001.9.1 low to 2007.8.1 low, and 50% Fibo from 2006.3.1 low to 2008.7.1 high.
(3)0.80 is the resitance in monthly chart.
I am a seller of EU @1.4880 and seller of AU @0.8901. They are in -0.24% and +0.70% profit now.
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