EUR/AUD

[YES]

I wonder how much money people lost trying to pick a bottom on this. A monster of a down trend, reminds me of USD/CHF. Lots more potential for more selling with current euro-zone woes, however be careful of a strong rally as most people will be short and will therefore be liquidating their positions; essentially pushing price up like a rubber band snapping.

[YES]

By the way, the price you see on the chart in the post above is an all time low, about 2000 pips below where price opened in the year 2000.

This means there is no bottom in place, no support level. This is no mans land. Therefore, look to other pairs and see where the Euro finds support in those as they will lend support to this pair.