EUR/AUD Trade Ideas

EUR/AUD rose to 1.6420 yesterday but failed to close there. The 200-period MA on the H4 chart and the 50- and 100-day MAs limit the upside. The pair is currently testing 38.2% Fibonacci retracement of the November-December advance. It looks like we have an interim top. EUR/AUD may slide lower. The n...

EUR/AUD formed a candlestick with a long upper shadow on the D1. The pair is currently testing levels below the 50- and the 100-period moving averages. At the same time, there is still support in the 1.6325/1.6300 area. We will be sure about selling only when the price falls below it. The break out ...

The Bank of Canada will announce its interest rate decision at 17:00 MT time. According to the forecast, the regulator will lower the key interest rate from 1.75% to 1.25%. On Tuesday, the Reserve Bank of Australia cut its key rate from 0.75% to 0.5%. The AUD, however, strengthened versus the EUR. I...

Trade idea BUY 1.6175; TP1 1.62; TP2 1.6235; SL 1.6160 SELL 1.6085; TP 1.6050; SL 1.6100 EUR/AUD formed a "hammer" candlestick on the W1, above the 50-week MA in the 1.6010 area. There's also a 100-day MA just above 1.6050. The pair tried to retest levels below it earlier this week but then closed h...

Trade ideas SELL 1.6475; TP 1.6420; SL 1.6490 SELL 1.6375; TP 1.6255; SL 1.6400 Last week EUR/AUD tested the highest levels since 2009 at 1.6780, but failed to hold there and closed at 1.65 forming a candlestick with a long upper shadow on W1. The pair may form a “Head and Shoulders” and travel sign...

Trade idea BUY 1.6155; TP 1.6250; SL 1.6130 EUR/AUD formed a “bullish engulfing pattern” on W1. Notice that this happened at the support line from the 2017 lows. This means that the uptrend is still in place and the pair has a decent chance to go for higher levels, at least May highs in the 1.6250 a...

Trade idea SELL 1.5890; TP1 1.5815; TP2 1.5740; SL 1.5910 EUR/AUD is currently testing the support line from the start of 2017. This week the pair went below the 50-week MA at 1.5965. There’s a “shooting star” (bearish pattern) on MN. On D1, we can see a complete “Head and shoulders” pattern. Notice...

Trade idea SELL 1.6280; TP 1.6225; SL 1.63 Have a look at the chart of EUR/AUD. There’s a bearish divergence between the price and the Awesome Oscillator on D1. The pair tested levels above the 50% Fibo of the 2008-2012 decline but then returned lower. In addition, yesterday the pair formed a bearis...

Trade idea SELL 1.6350; TP1 1.6300; TP2 1.6255; SL 1.6370 Check the chart of EUR/AUD. The pair has reached the 50% Fibo retracement of the 2008-2012 decline (!). In previous years, this level has always held buyers back. The D1 chart shows that the current high is not supported by oscillators (i.e. ...

Trade idea SELL 1.5780; TP1 1.5730; TP2 1.5660; SL 1.1795 EUR/AUD rose to the 50-week MA around 1.5855 (weekly pivot) but then was rejected down. The pair’s testing support at 1.5780 (last week’s low). A decline below this level will open the way down to 1.5725 and potentially 1.5650. A return abov...

Trade ideas: 1. SELL at 1.5660; TP1 1.5625; TP2 1.5575; SL 1.5674; 2. SELL at 1.5620; TP 1.5575; SL 1.5635. Cross currency pairs offer many exciting trading opportunities and are good for technical analysis. For example, have a look at the weekly chart of EUR/AUD. Last week the pair tested the 50...

Trading opportunities on the currency pair: The euro has been provided with support by Draghi’s and Yellen’s speeches. In this idea, we’re looking at a breakout of the 1-1 channel at 1.5070 with subsequent growth to 1.5250. It’s worth betting on a rise should the price get a foothold above 1.5070. I...