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.

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
Subscribe
Please try again
EUR/USD
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
Oil - US Crude
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
Wall Street
Bearish
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
Gold
Bearish
GBP/USD
Bullish
USD/JPY
Bearish
More View more
Real Time News
  • Many people are attracted to forex trading due to the amount of leverage that brokers provide. Leverage allows traders to gain more exposure in financial markets than what they are required to pay for. Learn about FX leverage here: https://t.co/BdgFmkzWwW https://t.co/rJUm1W9wrc
  • It’s important for traders to be familiar with FX spreads as they are the primary cost of trading currencies. Understand a pair's spread here: https://t.co/zEEUHZjVIG https://t.co/oZPoyPH2iw
  • Using margin in forex trading is a new concept for many traders, and one that is often misunderstood. Margin is the minimum amount of money required to place a leveraged trade and can be a useful risk management tool. Learn about margin trading here: https://t.co/qZCE5asCzM https://t.co/yN1I9FrfIS
  • There’s a strong correlation between interest rates and forex trading. Forex is ruled by many variables, but the interest rate of the currency is the fundamental factor that prevails above them all. Learn how interest rates impact currency markets here: https://t.co/5l3O9aHQbL https://t.co/DFEfCIl7zF
  • Thin liquidity can concentrate volatility and nowhere is that more evident than with Dogecoin. $DOGEUSD was down as much as 38% today. Watch for heightened bouts of volatility amid quiet risk trends in the week ahead: https://www.dailyfx.com/forex/video/daily_news_report/2021/04/17/Dollar-Outlook-Ties-Into-Key-Data-Rate-Forecasts-and-Even-Dogecoins-Rally-.html https://t.co/JO7O7zUKe9
  • It’s important for traders to be familiar with FX spreads as they are the primary cost of trading currencies. Understand a pair's spread here: https://t.co/zEEUHZjVIG https://t.co/Vv3jZNbLWg
  • Many people are attracted to forex trading due to the amount of leverage that brokers provide. Leverage allows traders to gain more exposure in financial markets than what they are required to pay for. Learn about FX leverage here: https://t.co/BdgFmkzWwW https://t.co/9j004hyzUZ
  • Learning how to trade does not have to feel foreign. Hone your skills and build your confidence with free DailyFX guides today! https://t.co/lnxaQOsgid https://t.co/7myL4vGnt8
  • Using margin in forex trading is a new concept for many traders, and one that is often misunderstood. Margin is the minimum amount of money required to place a leveraged trade and can be a useful risk management tool. Learn about margin trading here: https://t.co/qZCE5asCzM https://t.co/yxE0OmLIP0
  • Entry orders are a valuable tool in forex trading. Traders can strategize to come up with a great trading plan, but if they can’t execute that plan effectively, all their hard work might as well be thrown out. Learn how to place entry orders here: https://t.co/1mnOXUd00T https://t.co/iSrjZTeWwf
Bearish EUR/AUD on Strong/Weak Relationship & Respect of Resistance

Bearish EUR/AUD on Strong/Weak Relationship & Respect of Resistance

Tyler Yell, CMT, Currency Strategist

Point to Establish Short Exposure: Short on Retracement to 1.39/40

Spot: 1.3823

Target 1:1.36628 Intraday Low of 2015

Target 2:1.35094 61.8% Retracement of 2012-2015 Price Range

Invalidation Level:Close above 1.4100, 61.8% Retracement of Feb. Range

Highlights:

-AUD Remains 2017 Strongest G8 FX Currency As EUR Sits On Bottom

-Geopolitical Risk Grows With Upcoming Elections Putting Further Strain On Euro

-Commodity Bull Market In Precious Metals Keeps Wind At AUD’s Back

Fundamental & Technical Focus:

EUR/AUD has been on a steady downtrend, and the recent developments show that the trend could continue. On the Intermarketanalysis front, Australia seems to be well positioned to gain afurther economic advantage as the commodity market, specifically in precious metals continues to move ahead while others like energy have appeared to stall for now.

The Australian economy sits at a favorable position due to recent comments from the RBA as the RBNZ has recently talked down their currency and recent hints of economic growth in China seems to benefit Australia as well. RBA’s Lowe recently communicated that he appears comfortable with the level of AUD right now despite the relative strength, which should lessen central bank interference in the trend.

The Australian dollar has been the best-performingcurrencyacross the board in 2017 thanks in large part to the ‘Great Reflation’ that has a viewpoint of pending inflation, which benefits commodity exporters like Australia. Many have looked at Copper futures, which have recently broken above the early November highs evidence of the breakout and Bullish Momentum in Copper. In 2017, The Australian Dollar has gained nearly 5.9% against the US Dollar and 5.35% against the EUR.

Euro, on the other hand, has had a difficult time holding a bid despite some evidence of Economic resilience. After Janet Yellen’s testimony to Congress on Tuesday in which she said it would be “unwise” for the Fed to wait to hike rates, EUR/USD and other EUR crosses hit a 1-month low. This move coincided with a steepening in the Euro area bond yield curve.

This trade of EUR/AUD short would look to enter on a retracement, so a sign of temporary EUR strength or AUD weakness. The preferred zone would be the 38.2% Fibonacci Retracement of the recent move lower that would have an entry point starting near 1.39 up to 1.4000.

EUR/AUD is also looking to take advantage of the Strong/ Weak Relationship:

Please add a description for the image.

The downside targets would favor new 2017 lows toward the Intraday low of 2015 at 1.36628 or the 61.8% retracement of the 2012-2015 range at 1.35094. While aggressive targets, the trend continuation view would place these levels as high priority and higher probability targets should the geopolitical risk rise further in Europe with upcoming elections in Netherlands and France along with ECB remaining dovish.

Chart:

Bearish EUR/AUD on Strong/Weak Relationship & Respect of Resistance

Created by Tyler Yell, CMT

---

Shorter-Term EUR/AUD Technical Levels: February 14, 2017

For those interested in shorter-term levels of focus than the ones above, these levels signal important potential pivot levels over the next 48-hours.

Bearish EUR/AUD on Strong/Weak Relationship & Respect of Resistance

-Tyler Yell, CMT

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

DISCLOSURES