EURAUD, Daily
EURAUD dropped 1.32% yesterday and produced a nice trade (> 100 pips) for those that attended yesterday’s Live Analysis Webinar. Today the pair is trading near the daily Bollinger bands and looks like it could move higher from the current levels. This buy area was discussed yesterday in the webinar and now’s the time to consider taking the advantage of it. EURAUD is reacting higher at the time of writing and could retrace yesterday’s move. Stochastics in the daily timeframe are near oversold levels while all my oscillators (Stochastics, RSI and MFI) are deeply oversold in the four hour chart.
This morning we had a signal to go long in the buy area between 1.4716 and 1.4794 so those that attended yesterday’s Live Analysis Webinar knew when and how to get long. Should the market provide another buy signal, we could still consider going long on this market. My Target 1 for this trade is in 1.4907 – 1.4930 bracket and Target 2 in 1.4980 – 1.5040 range. Only trade these ideas if you agree with the analysis and are (after substantial testing) confident that you can assume the risk.
Disclaimer: 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 purchase or sale of any financial instrument.
Recommended Content
Editors’ Picks
AUD/USD bounces to 0.6450, shrugs off mixed Australian jobs data
AUD/USD is rebounding to test 0.6450 amid renewed US Dollar weakness in the Asian session on Thursday. The pair reverses mixed Australian employment data-led minor losses, as risk sentiment recovers.
USD/JPY bounces back toward 154.50 amid risk-recovery
USD/JPY bounces back toward 154.50 in Asian trading on Thursday, having tested 154.00 on the latest US Dollar pullback and Japan's FX intervention risks. A recovery in risk appetite is aiding the rebound in the pair.
Gold rebounds on market caution, aims to reach $2,400
Gold price recovers its recent losses, trading around $2,370 per troy ounce during the Asian session on Thursday. The safe-haven yellow metal gains ground as traders exercise caution amidst heightened geopolitical tensions in the Middle East.
Manta Network price braces for volatility as $44 million worth of MANTA is due to flood markets
Manta Network price was not spared from the broader market crash instigated by a weakness in the Bitcoin market. While analysts call a bottoming out in the BTC price, the Web3 modular ecosystem token could suffer further impact.
Investors hunkering down
Amidst a relentless cautionary deluge of commentary from global financial leaders gathered at the International Monetary Fund and World Bank Spring meetings in Washington, investors appear to be taking a hiatus after witnessing significant market movements in recent weeks.