EURAUD, Daily

After falling for three weeks in a row EURAUD is oversold and near lower weekly Bollinger Bands and an important daily support at 1.4830. This is a level that caused prices to rally in December and created an uptrend that lasted for several weeks. Even if we didn’t get a similar move from this support this time, the previous move indicates how important this level has been to the market participants.

Obviously I don’t know beforehand if the support will hold but it price consolidates above or near the 1.4830 support we should see buyers emerging and moving the pair higher again. The first intraday resistance level can be found at 1.4986-1.5025 while a more significant resistance will test the bulls’ commitment above the 23.6% Fibonacci level at 1.5172.

I look for buy opportunities above 1.4830 support with target 1 at 1.4986 and target 2 at 1.5075.

If you don’t know how to utilize the above analysis, please join my free webinars for further training. Below I have a EURAUD trade example from last Tuesday’s Live Analysis Webinar. This setup worked perfectly and those shorting EURAUD as per my analysis made a nice pile of pips. If you want to learn to find similar trades, you need to attend some webinar training. I look forward to seeing you there!

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 Analysis, 1.5610 1st Target Breached 1.5790 in Sight

EURAUD, Daily

The EURAUD pair continues to be in a recovery mode with my Febuary 3 target 1.5610 being breached today. Please see my post last (EURAUD Update) for futher details.

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

Eurozone unemployment shows modest signs of improvement and other Eurozone data may also start to print a better outlook for the Eurozone economy over the short term that may add to support the EUR longs. However, markets are on edge that over the medium term further ECB easing still remains a possibility, and that could keep a lid on the EUR.

The Reserve Bank of Australia left rates unchanged, while the monetary policy remains dovish, adding to the short term weakness on the AUD.

Technically, the EURAUD pair remains within the upward bull channel printing higher highs and higher lows since the December low (1.4353). Momentum analysis seems to be turning upward and current price is above its 10 and 50 SMA’s. I remain with the conclusion that as long as price can hold above the 1.5090 – 1.5180 support zone, long positions can be supported for targets in the 1.5610 – 1.5790 zones.

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

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

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.