Brian Twomey
Brian's Investment
Yesterday's EUR/AUD as written was oversold and heading higher from 1.5422 and achieved 1.5552 or 130 pips. AUD/USD as written below 0.7617 targets 0.7589, 0.7561 and 0.7504. AUD/USD achieved 0.7531. From 0.7591 yesterday, AUD/USD traded +60 pips.
Next AUD/USD targets 0.7504 then begins oversold at0.7477.
EUR/AUD big break for higher is located at 1.5653 and a massive line at 1.5628. As EUR/AUD tops are close then signifies AUD/USD bottom at 0.7506. Time today to reverse the trade as short EUR/AUD and Long AUD/USD.
For AUD/USD shorts today are located at 0.7582 and 0.7577 to target bottoms at 0.7515 and 0.7506.
EUR/AUD big break lines are located at 1.5588 and 1.5557.
AUD/EUR today informs EUR/AUD wider ranges are located at AUD/EUR bottoms at 1.5620 and tops at 1.5460. EUR/AUD bottom today is located at 1.5460 and long to target 1.5499. EUR/AUD short point at 1.5589 and 1.5557 targets 1.5518.
AUD/USD ranges as EUR/AUD and AUD/EUR must decide to break AUD/EUR 0.6392 or 1.5644 and EUR/AUD 1.5653. Once EUR/AUD and AUD/EUR is decided then wider targets are factored for AUD/USD. We haves moves but no strength of trend nor conviction to wider targets.
The difference between EUR/AUD and AUD/EUR is exactly 47 pips as AUD/EUR ranges maximum at 33 pips and EUR/AUD at 79 pips. AUD/EUR normally ranges in daily Asia trade from 15 to 17 pips. It trades 1/2 its allowable distance while EUR/AUD trades 39 pips or 1/2 its allowable distance. AUD/USD is caught in the middle to trade 17 or 39 pips.
EUR/AUD longer term supports are located at 1.5205 and 1.4772. I wouldn't trust a 1.4900 target.
The currency price is a monster and extremely difficult to master. Takes years however if the currency price is conquered then every market price on the planet is much easier to know and profit. But once the currency price is known fully, profits and trading life becomes much easier.
Tomorrow NFP and a holiday which means the Central banks may or may not offer a tradeable price. In which case the only manner to trade NFP is to offer 24 hour trades issued Thursday afternoon. The only other option is to not trade NFP's.
Trading currencies and other financial instruments carries a degree of loss and possible loss of entire investments. Please managed your own risks, stop loss, and margins requirements.
Recommended Content
Editors’ Picks
EUR/USD holds steady near 1.0650 amid risk reset
EUR/USD is holding onto its recovery mode near 1.0650 in European trading on Friday. A recovery in risk sentiment is helping the pair, as the safe-haven US Dollar pares gains. Earlier today, reports of an Israeli strike inside Iran spooked markets.
GBP/USD recovers toward 1.2450 after UK Retail Sales data
GBP/USD is rebounding toward 1.2450 in early Europe on Friday, having tested 1.2400 after the UK Retail Sales volumes stagnated again in March, The pair recovers in tandem with risk sentiment, as traders take account of the likely Israel's missile strikes on Iran.
Gold: Middle East war fears spark fresh XAU/USD rally, will it sustain?
Gold price is trading close to $2,400 early Friday, reversing from a fresh five-day high reached at $2,418 earlier in the Asian session. Despite the pullback, Gold price remains on track to book the fifth weekly gain in a row.
Bitcoin Price Outlook: All eyes on BTC as CNN calls halving the ‘World Cup for Bitcoin’
Bitcoin price remains the focus of traders and investors ahead of the halving, which is an important event expected to kick off the next bull market. Amid conflicting forecasts from analysts, an international media site has lauded the halving and what it means for the industry.
Geopolitics once again take centre stage, as UK Retail Sales wither
Nearly a week to the day when Iran sent drones and missiles into Israel, Israel has retaliated and sent a missile into Iran. The initial reports caused a large uptick in the oil price.