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.
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