Monday, January 12, 2015

New Signal EUR/AUD

*Signal Updated:  The Global Currency Scalper has cancelled its open order on EUR/AUD as retail sales were being announced at 8:30 EST.  We do not want to get caught in a brief economic number move which may quickly fade.  The Global Currency Scalper will move back into cash and proceed with its currency analysis.

As of 01/12/2015 @ 19:05 EST:

We have identified EUR/AUD as a possible short trade.  This pair has made a steep down move from its peak in December of 2014 and has been so far able to hold the 61.8% Fibonacci level.  The Global Currency Scalper is looking for a break of this level before considering taking a position.

Our short trade will be triggered with a break of 1.43450 and price target will be the triple in-chart bottoms set from October 31, 2014 to November 24, 2014 of 1.42380.  The Global Currency Scalper will set stop at 1.46100, if this level is breached prior to open a position our view will turn neutral and further analysis will be taken,

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