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...
1. Based on the last 16yrs of daily close data (since 01/01/2000 to date) EURAUD has a cumulative probability of a =>6th day lower at 0.87%, hence there is a implied 99.13% chance of reversal on the daily.
1. Buy EURAUD at market in 1xlot, and add 2x on each daily close lower from here. Start in VERY small lots to reduce risk...
Gov Lowe speech Highlights:
-RBA GOV LOWE SAYS INFLATION IS EXPECTED TO REMAIN LOW FOR SOME TIME, BUT THEN TO GRADUALLY PICK UP AS LABOUR MARKET CONDITIONS STRENGTHEN
-RBA GOV LOWE SAYS OUR VIEW IS THAT A FLEXIBLE MEDIUM-TERM INFLATION TARGET REMAINS THE RIGHT MONETARY POLICY FRAMEWORK FOR
-RBA GOV LOWE SAYS A FLEXIBLE MEDIUM-TERM TARGET IS THE BEST WAY...
RBA minutes broadly neutral on the margin. Aussie rates (30 day bills) are implying a 5% chance of an October 25bps cut. In general we've seen aussie rates firm up, with 30d bills moving from 7% last week and 9% the week before to now 5%, this firming/ steepening has been the general consensus further along the maturity curve where rate cut hopes are diminishing...