Thursday, January 8, 2015

New Signal EUR/AUD

*Signal Update: As of 01/09/2015 @ 7:22 EST the Global Currency Scalper has cancelled its open order on EUR/AUD as no position was triggered overnight and we want to head into the NFP holding cash.

As of 01/08/2015 @ 18:19 EST:

We have identified a possible short trade in EUR/AUD.  This pair has been experiencing a sharp decline which was triggered by a break of the 1.4608 level.  Buyers were only attracted back into this pair when prices approached the trend-line which dates back to early September 2014 bottom.  That trend-line price currently stands at 1.44920 which needs to be broken before taking a position.

The Global Currency Scalper will be initiating a short position if the EUR/AUD takes out 1.44800 with price targets at the figure of 1.44000 and the 61.8% Fibonaccu level of 1.43840, lower to see some support at 1.43450 and the figure of 1.43000.  Stops will be placed with a break of 1.46100, if this pair was to breach this level prior to initiating a position our view will change to neutral and further evaluation will be warranted.

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