EURAUD Analysis

EURAUD update,



Given Mario Draghi’s dovish remarks during yesterday’s press conference about a review of monetary policy, weakness in the EUR has prevailed against higher yielding currencies. The AUD , as a higher yielding currency, should do well against the EUR over the long term. However, there is a risk that the EUR could bounce back in the short term if the current global risk sentiment spikes higher again.

Current price remains within the upward sloping channel line , so I will look for prices to return towards the lower end of the channel before entering any new long positions.

My strategy for the EURAUD pair in the short term is to play the short position for a 1.5180 target ( Target 1) , as trade 1 , ahead of potential support from buyers for a re-entry , trade 2, as a buy order around 1.5090 for a 1.5610 (Target 2).


Janne Muta

Chief Market Analyst

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About Janne Muta, HotForex’s Chief Market Analyst

jmutaJanne Muta is a seasoned industry professional with over 16 years experience in the global markets. Originally from Finland, Janne has worked for institutions in both Helsinki and London as an institutional fund manager, global market analyst and FX educator.

Traders and fund managers from around the world have benefited greatly from Janne’s technical analysis methods. The indicators and price action based trading models he has developed, have, after rigorous testing, proven to be invaluable in identifying high probability trades.

“My mission is to help you to become a confident and successful trader”

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