0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
EUR/USD
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Oil - US Crude
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Wall Street
Bullish
Gold
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
GBP/USD
Mixed
USD/JPY
Bullish
More View more
Real Time News
  • Canadian #Dollar Outlook: $USDCAD Plummets to Major Uptrend Support - https://t.co/HLtQstewm6 https://t.co/DXXIOvBKzX
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.04%, while traders in US 500 are at opposite extremes with 76.72%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/nTYRlfwmDy
  • The USD/CAD sell-off is now approaching long-term uptrend support and while the immediate threat is lower, the decline may be vulnerable heading into this key region. Get your $USDCAD technical analysis from @MBForex here:https://t.co/wsdtyzGMZG https://t.co/hj69mn4hKq
  • Commodities Update: As of 16:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 2.85% Silver: 1.85% Gold: 0.74% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/iYVh6wspCX
  • US House Speaker Nancy Pelosi: -Confident lawmakers will have agreement on coronavirus relief but cannot give timing -Declines to say whether politicians must reach a deal this week
  • Forex Update: As of 16:00, these are your best and worst performers based on the London trading schedule: 🇨🇭CHF: 0.85% 🇪🇺EUR: 0.78% 🇦🇺AUD: 0.77% 🇬🇧GBP: 0.48% 🇨🇦CAD: 0.43% 🇯🇵JPY: 0.23% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/y6tkFaN50E
  • Indices Update: As of 16:00, these are your best and worst performers based on the London trading schedule: Wall Street: 1.14% US 500: 0.49% France 40: -0.16% Germany 30: -0.27% FTSE 100: -0.42% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/KlEWwf3vfG
  • Atlanta #Fed GDPNow Q3 latest estimate 20.3%, up from 19.6% $DXY $SPX
  • Hey traders! Are you looking for risk? Get your market update on risk leaning assets from @DailyFX Chief Strategist @JohnKicklighter 👇 https://t.co/mdnYK2lFaE
  • Update on #Cryptocurrencies #BITCOIN +4.47% #BITCOINCASH +2.65% #ETHEREUM +2.08% #RIPPLE +0.94% #LITECOIN 2.28%
EUR/AUD Strategy: Aiming to Test Below 1.48 Figure

EUR/AUD Strategy: Aiming to Test Below 1.48 Figure

2017-06-08 11:01:00
Ilya Spivak, Head Strategist, APAC
Share:

To receive Ilya's analysis directly via email, please SIGN UP HERE

Talking Points:

  • EUR/AUD Strategy: Short at 1.4931
  • Euro breaks range floor, hints at move below 1.48 vs. Aussie ahead
  • Negative RSI divergence bolsters the case for a downside scenario

The Euro has broken three-week support against the Australian Dollar, hinting that a top may be in place near the 1.52 figure and opening the door for deeper losses. Negative RSI divergence points to ebbing upward momentum and bolsters the case for a downside scenario.

Near-term support is now at 1.4741, the 38.2% Fibonacci retracement, with a break below that on a daily closing basis opening the door for a challenge of the 50% level at 1.4591. Alternatively, a move back above range floor support-turned-resistance at 1.4950 paves the way for a retest of 1.5032.

Risk/reward parameters appear acceptable to enter short and a trade has been activated at 1.4931, initially targeting 1.4741. A stop-loss will be activated on a daily close above 1.5032. Profit on half of the trade will be booked and stop-loss moved to breakeven upon reaching the first objective.

Need help building your FX trading strategy? See our guides and join our live Q&A webinars!

EUR/AUD Strategy: Aiming to Test Below 1.48 Figure

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES

News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.