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EUR / AUD (EURAUD)

MetisEtradePR · 9 · 5352

MetisEtradePR

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on: Sep 04, 2014, 06:27 PM


taking advantage of the optimism in the Australian Dollar, a sell position is recommended after the currency pair breaks the support level.


Dogberto

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Reply #1 on: Sep 14, 2014, 11:27 PM
"RBA's Decision to Maintain Interest Rates"
http://www.metisetrade.com/research/report_data/Fundamental/51998
Yes, this trade was profitable earning 151.9 pips on the same day the report was released.


MetisEtradePR

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Reply #2 on: Sep 30, 2014, 06:46 PM


Given that China is the largest trading partner of Australia, positive news regarding the Chinese economy could affect the Australian Dollar greatly. The Aussie has generally been weak for the past few weeks on RBA’s open desire in in the currency’s decline in order to support demand for local producers that compete with imports. A correction is possible EURAUD on the release of Euro-zone’s inflation data later.


MetisEtradePR

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Reply #3 on: Oct 10, 2014, 06:13 PM


Support and Resistance Level

EURAUD’s consolidation since the last week of September could continue as prices failed to break the price ceiling at 1.4585. Immediate resistance could currently be found at 1.45085. A short near this is recommended with target take profit price near support at 1.43591.

Trend Indicators

The 100-day (red line) and 200-day (blue line) simple moving averages show that in the medium-term, EURAUD is bearish, although there is recent consolidation. Resistance from the 200-day SMA could be found at 1.46324, while support from the 100 SMA is at 1.43531.

Oscillators

The relative strength index in the 4-hour chart signals impending correction as a bearish divergence could be seen between the price chart and the index. Although the prices reached higher highs, the oscillator made lower highs, indicating a loss in bullish momentum for the euro. The index presently stands at 57.42. A confirmation of a change in short-term trend would be made if the index dips below level 50.


MetisEtradePR

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Reply #4 on: Nov 17, 2014, 07:08 PM


Support and Resistance Level

After the six-month downtrend, EURAUD has generally been moving in an uptrend for the past two months. The currency pair recently touched the channel support of the uptrend at 1.42692. A buy stop position should be taken after the currency pair breaks the 1.43421 price level as this is a confirmation that the uptrend will continue. Profit-taking should be done before the 1.44810 resistance level has been reached.

Trend Indicators

The 50-day (red line) and 100-day (blue line) simple moving average (SMA) of EURAUD reveals that the currency pair recently broke its downtrend as the shorter-term SMA crossed above the longer-term SMA. The 100-day SMA can serve as a strong resistance level. A breach of this level confirms the EURAUD reversal. A buy stop position is recommended after this confirmation.

Oscillators

The relative strength index (RSI) of the four-hour chart reveals that the currency pair is neither overbought nor oversold at 43.73 RSI level.



MetisEtradePR

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Reply #5 on: Nov 18, 2014, 06:45 PM


Support and Resistance Level

The EURAUD consolidation for the past month has been forming a descending triangle chart pattern. A retest of the pattern’s channel resistance level is possible before a breakdown of the currency pair happens. The continuation of this chart pattern formation should be taken advantage of by putting a buy limit near the support level at 1.40430. A stop-loss should be placed below this support level in order to prevent additional losses from a possible breakdown of the triangle pattern. Profit-taking should be done near the resistance level at 1.41777.

Trend Indicators


The 10-day (red line), 20-day (blue line) and 50-day (orange line) simple moving average of EURAUD confirms the consolidation of the currency pair for the past month. The 50-day simple moving average serves as a strong resistance, thus profit-taking should be done before this level.

Oscillators


The relative strength index (RSI) of the hourly chart reveals that the currency pair is near oversold level in the short term. The RSI is currently at 38.78 confirming that there is a possibility for the currency pair to go down first before retesting the resistance level. Therefore, a buy limit position would be more appropriate.


MetisEtradePR

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Reply #6 on: Jan 07, 2015, 05:32 PM


Euro Zone’s inflation for the month of December is expected to not have grown. December’s inflation is forecasted to be at 0.0%, lower than the previous month’s 0.4% growth. Low inflation has been a persisting problem in the Euro area. The risk of deflation has risen given the sharp fall in energy prices. This can pose serious consequences on the Euro area. The market is awaiting the European Central Bank’s monetary decision to avoid further deflation risks. In the January 22 policy meeting, there is expectation for the central bank to announce Quantitative Easing program. In addition to this, the concern brought about by the possibility of the Greek exit will possibly influence the Euro to depreciate further.

A sell position in EURAUD is recommended.


MetisEtradePR

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Reply #7 on: Jan 27, 2015, 04:49 PM


Support and Resistance Level


The EURAUD downtrend has remained intact for the past few weeks, providing several opportunities for short-selling. The channel resistance at 1.426 provides an opportunity for shorting the euro, with the take profit level near the immediate support at 1.4033.

Trend Indicators

While the aussie has been paring gains against the fiber since last week, the 200 SMA (blue line) and 100 SMA (red line) on the 4-hour chart shows the currency’s medium-term down trend remains intact as the faster moving average remains above the slow moving average. Resistance from the 100 SMA currently holds at 1.4353.

Oscillators

The relative strength index on the 4-hour chart shows the pair is currently consolidating after bouncing back from oversold levels a few weeks ago. A test of RSI level 60 is possible, a bounce from which would confirm the resumption of the medium-term downtrend.


MetisEtradePR

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Reply #8 on: Mar 23, 2015, 06:08 PM


Support and Resistance Level

EURAUD has been moving in a downtrend since the start of February. The downtrend will possibly continue if the currency pair bounces back from the 1.39614 channel resistance level. A sell position can be executed after the bounce from this resistance level. The currency pair will possibly test the strong support level at 1.37316, therefore, profit-taking should be done before this level is reached.

Trend Indicators

The 10-day (red line) and 20-day (blue line) simple moving average of the EURAUD daily chart shows that the currency pair has been moving in a downtrend since January. The currency pair is expected to continue this trend. The simple moving averages can serve as a resistance level of the downtrend.

Oscillators

The relative strength index (RSI) level of the EURAUD four-hour chart indicates that the currency pair is nearly oversold. The RSI is currently at 38.76. The currency pair will move in a downtrend as long as the RSI is below the 60.0 RSI level.


 


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