Price is closing in on EURAUD
- Price has been Bearish September 2015 and We are now reaching KEY support Areas.
- Price can Either bounce off support 1.27 into Trend line Resistance then proceed to 61.8 Retracement on Monthly Timeframe.
- Break Support 1.27 and Test 61.8 Retracement on the Monthly TImeframe, Retest back onto 1.27 and Go forth of Bearish...
61.8 fib rejection, a CTL will trigger a short entry down to target 1.39200. Monthly showing bearish engulfing pattern with the weekly still threatening to break below daily support of 1.41300. A clean break below this level on the weekly time frame should cause huge bearish momentum down to target.
In other analyses I paid respect to weekly positions. These are where the power truly is. Occasionally we spot a key position in the market where we can find opportunities on lower time frames.
This does not mean I'm going long on this weekly. However, I'd be looking to go long on daily or 4H charts.
Descending wedge patterns on occasion herald a bullish...
There has been a clear support forming for EURAUD which has been hit 5 time starting in mid-October 2016. There has historically been another resistance line at fib 0.236 which has been broken late 2016/early 2017 but we have returned to the support. Looking at this pattern I would predict a trend upwards to hit the previous resistance around 1.447.
We can also...
Another pair that closed on the verge of either a bounce or a support/resistance break.
EURAUD stopped on Friday at 1.41748 with a very short body that suggest a price confirmation in the area that has been a support quite a few times in the last quarter.
If the EUR appreciates, there is still a soft level to consider at 1.41328 so for the moment the...
In line with our previous buy entry, there is a new buy trading signal for EURAUD. The ABCD pattern could complete at 1.618 Fib Extension and it would be a great level to take the profit for the current Gartley pattern buy signal.
In this chart we want to focus on trading harmonic patterns and how to trade potential opportunities. Our #Forex signal today is EURAUD Buy Limit @ 1.43241 Stop @ 1.40926 and Target @1.45869.
Also on the reverse strategy there is a signal to short EURAUD Sell Limit @ 1.45900 Stop @ 1.46906 and Target @ 1.43300.
today i've found another particular pair at a very important decision point.
As you can see above, here we are retesting a daily level that recently had been broken. This level lines up nicely with two powerful fibonacci retracements.
With that being the case, over the next days we are going to look for some opportunities in lower timeframes (1hr and...
Last week saw this pair close under the 200m sma on the weekly time frame. This week sees this pair slide further under the 200 and as we have plenty of room to the downside as far as the RSI is looking, this looks a solid SHORT.
Currently we sit 50 pips under the 200 sma on M15 so we have a STOP at 1.4291 which is just above.
SHORT EUR/AUD from 1.4242 STOP 1.4291.
As expected the RBA deciced to keep the OCR unchanged at 150bps. 30D Aussie bank bills implied only a 2% chance of a cut, down from the 10% we saw several weeks ago. There were few hints as to further policy, and it certainly feels as if the calls/ rhetoric for further cuts has been dampened in recent meetings following the august reduction. As well as in recent...