EURAUD, Daily               

Yesterday’s EURCAD LONG post hit Target 1 (1.4620) later in the day as the trickle of news out of Europe improved and the US Oil price remained firmly below USD 50 for a short term net gain of 70 pips. Target 2 remains at the psychological 1.4700. Today’s Eurozone news is that Spanish unemployment dropped to 18.9% in Q3 from 20.0% in the second quarter. The improvement is more pronounced than expected, but levels remain high, especially among the under 25s which is also a social problem and one of the reason behind the rise in support for protest parties.

The EURAUD also looks interesting on the daily chart. Yesterday’s large wick on the candle to a 17 month intra-day low of 1.4126 was quickly bid up to close the day at 1.4255.  The overnight rally to 1.4300 prompted a long position for a short term Target 1, a little over the rising 14 DATR (0.0140), at 1.4410. The Target 2 is a little north of the 38.2 Fibonacci level and 20 DMA at the psychological 1.4500.  The RSI remains positive at 40 and rising, the short-term stochastics are positive and rising and the Parabolic SAR turn positive yesterday too.

Janne Muta

Chief Market Analyst

If you wish to get the latest forex brokers news,you can visit our Top Forex Brokers official website:

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Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.

EURAUD, Daily               

Yesterday’s EURCAD LONG post hit Target 1 (1.4620) later in the day as the trickle of news out of Europe improved and the US Oil price remained firmly below USD 50 for a short term net gain of 70 pips. Target 2 remains at the psychological 1.4700. Today’s Eurozone news is that Spanish unemployment dropped to 18.9% in Q3 from 20.0% in the second quarter. The improvement is more pronounced than expected, but levels remain high, especially among the under 25s which is also a social problem and one of the reason behind the rise in support for protest parties.

The EURAUD also looks interesting on the daily chart. Yesterday’s large wick on the candle to a 17 month intra-day low of 1.4126 was quickly bid up to close the day at 1.4255.  The overnight rally to 1.4300 prompted a long position for a short term Target 1, a little over the rising 14 DATR (0.0140), at 1.4410. The Target 2 is a little north of the 38.2 Fibonacci level and 20 DMA at the psychological 1.4500.  The RSI remains positive at 40 and rising, the short-term stochastics are positive and rising and the Parabolic SAR turn positive yesterday too.

Janne Muta

Chief Market Analyst

If you wish to get the latest forex brokers news,you can visit our Top Forex Brokers official website:

http://www.topforexbrokerscomparison.com

Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.

EURAUD, Daily              

Yesterday I wrote “The EURAUD rallied strongly from the August low below 1.4450 to a high at 1.5065 last Thursday (September 14). The high was capped for three days by the 200 DMA, and the subsequent fall broke the 20 DMA yesterday. This three candle down move and break and hold of the 20 DMA on the Daily timeframe, triggered a SHORT position at 1.4820, with Target 1 at 1.4700 and Target 2 at 1.4580.

The strong down move continued yesterday. Target 1 at the psychological 1.4700, and the 50 DMA were breached earlier today for a gain of 120 pips.  If the pair close today below the 1.4700 level and the Parabolic SAR remains positive then further downside to Target 2 (1.4580) is possible.  Today would be the 5^th strong down day following the rejection of the 200 DMA on September 15, so some relief in the down move could be expected, the short term stochastics are over sold.

Chief Market Analyst

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Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.

EURAUD, Daily              

As global markets await the thoughts of the BoJ and the FOMC tomorrow (Wednesday) another currency pair appear to be rolling over and returning to their longer term downtrend.

The EURAUD rallied strongly from the August low below 1.4450 to a high at 1.5065 last Thursday (September 14). The high was capped for three days by the 200 DMA, and the subsequent fall broke the 20 DMA yesterday. This three candle down move and break and hold of the 20 DMA on the Daily timeframe, triggered a SHORT position at 1.4820, with Target 1 at 1.4700 and Target 2 at 1.4580.

The longer term Monthly chart is also trading below its 20 period MA and also has support around the 1.4700 level. The 14 Day ATR is currently around 150 but the Parabolic SAR has yet to revert.

Chief Market Analyst

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Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.

EURAUD, Daily            

The EURAUD pair first caught my eye yesterday (July 21) after a long sustained (over 30 day) down move from the May 24 high. It  formed a five day floor around the 1.4520 level earlier this week and then rallied and attempted to break the 20 DMA and 23.6 Fibonacci zone around 1.4730-1.4750.  A close above 1.4730 on the Daily chart will generate a LONG position with Target 1 at 1.4870 and Target 2 1.5025.

Janne Muta

Chief Market Analyst

If you wish to get the latest forex brokers news,you can visit our Top Forex Brokers official website:

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Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.

EURAUD, 60 min

US Employment for April is out later and should reveal a 210k (median 208k) headline for the month following larger increases of 215k in March and 245k in February. Initial claims improved dramatically during April which could help lift the headline but consumer confidence measures and ADP were subdued.

Two days ago while EURUSD was still trading at 1.1490 I wrote that “the 1.1532 to 1.1570 should be a challenge for the bulls and this Sell Area has potential to turn the pair down again. We will follow the price action to see if market supplies us with sell signals. Should this happen my target one is at 1.1480 and target two at 1.1410.”

The pair rallied almost to my sell area but turned lower 4 pips below it. Market then moved down to hit both of the targets and is now reacting higher from a support created by the April 20th and 21st highs.

After moving considerably lower in last three days it seems that EURUSD is now likely to retrace some of the move which might provide us with entries on the short side after a rally. In the event that the rally I’m anticipating takes price all the way up to my sell aera I will be looking for sell signals between 1.1453 and 1.1474 with T1 at 1.1409 – 1.1425 bracket and T2 at 1.1360 – 1.1377 range.

Remember to manage the risks adequately and avoid highly geared positions when the US Non-Farm Payrolls are published. If you don’t know how to manage your risks professionally we recommend you attend our educational and interactive webinars.

Janne Muta

Chief Market Analyst

If you wish to get the latest forex brokers news,you can visit our Top Forex Brokers official website:

http://www.topforexbrokerscomparison.com

Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.

EURAUD, 60 min

Eurozone Apr manufacturing PMI released earlier today revised up to 105.7 from 105.5 reported initially and versus 105.6 in the previous month. German and French PMIs were actually revised slightly down with the final release, but the Italian PMI jumped to 53.9 from 53.5 against expectations for a decline in confidence. Further confirmation then that the Eurozone recovery is continuing but at a very modest pace and with core countries remaining weak. Especially France continues to underperform despite the stellar GDP result for the first quarter.

EURAUD has touched an area of resistance at 1.5060 – 1.5200 that has seen the sellers to emerge in the past. At the same time the daily Stochastics is getting overbought. In the 60 min chart price action is looking bearish as the latest reactionary high is lower than the one before. Therefore the pair testing a 0.236 Fibonacci level that coincides with the 30 period SMA and lower Bollinger Bands has now a high significance. If buyers emerge now there is still a chance that price could move higher. However, the recent lower high makes it less likely that the support will hold. If the level holds we could see a new attempt on today’s highs but if the support breaks we have a bearish intraday setup. If price moves below 0.236 Fibonacci level (at 1.5039) on a closing basis I will be looking for sell signals at or inside my Sell Area of 1.5053 – 1.5096 with Target 1 at 1.4997 – 1.5018 and Target 2 at 1.4910 – 1.4952. Please, remember that you should always manage your risks. Do not trade based on our analysis unless your own analysis agrees with it and you know how to manage your risks professionally. Please, attend the webinars if you have troubles in understanding how you should take advantage of the analysis that we provide.

Janne Muta

Chief Market Analyst

If you wish to get the latest forex brokers news,you can visit our Top Forex Brokers official website:

http://www.topforexbrokerscomparison.com

Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.