EURAUD has been an interesting pair to watch over the past couple weeks. Price has declined breaking the weekly bullish TL, tested major support as well as bouncing off 200-day moving average on weekly time frame. Failing to close below these is good indication for a bull run.
Recently, we’ve seen the AUSSIE DOLLAR decline, as China’s manufacturing news has been...
Last week, Yellen stated that positive US reports have opened up the idea of a rate hike in September and we will need to see more positive US reports for the rate hike to be confirmed.
This acted as a huge catalyst on Friday allowing the US Dollar to break TL on most pairs. As it stands the Dollar is looking bullish with investors waiting for US reports to...
Last week, Yellen stated that positive US reports have opened up the idea of a rate hike in September and we will need to see more positive US reports for the rate hike to be confirmed.
This acted as a huge catalyst on Friday allowing the US Dollar to break TL on most pairs. As it stands the Dollar is looking bullish with investors waiting for US reports to...
Over the past few months we have seen price hit major resistance and retrace to retest the major bearish trend line. Over the past 2 weeks price has tested and failed to break through this bearish trend line suggesting price is ready to continue on its bullish run. In addition, recent news about the BOJ increasing stimulus will surely impact the Yen negatively...
2 weeks ago we saw price break the bullish trend-line, creating a lower low. Last week we saw price retrace to retest this trend line.
In the coming week i think we will see price complete its test and then continue on its bearish trend to test the next major support.
Fundamentally, we have big US news this week, employment/unemployment rate & non-farm payroll....
Price recently tested a major resistance and the bearish trend line but failed to close above these areas suggesting price is ready to continue its bearish trend.
I have highlighted 2 opportunities
1.) short term trade to the next support - Risk to reward ratio 2.6
2.) swing trade if price breaks the support - Risk to reward ratio 6.73
Last week we saw price break and retest the bearish trend line (highlighted in orange) and close above the bullish trend line.
A good long opportunity has shown itself. but first i will wait for a retest of the bullish trend line for confirmation before entering long.
risk to reward of 1:3
