*Position Update: As of 02/02/2015 @ 22:32 The Global Currency Scalper liquidated its EUR/AUD position after the interest decision by the RBA. We booked a profit of 48.9 Pips.
As of 02/01/2015 @ 18:44 EST:
We have recognized a possible long trade in EUR/AUD. The Global Currency Scalper is looking to go long if a certain price is taken out which should attract buyers. As you can see this pair has been pretty choppy, with a clear sign of resistance before the solid run north which started in November of 2014. A big pullback followed, which started in mid December of 2014 but held the low set in September of 2014. This pair has currently come right back to that resistance area as it's consolidating about the 50% Fibonacci level.
The Global Currency Scalper will be going long EUR/AUD with a break of 1.46910 which should attract buyers and eventually see a run to 1.47420 which is the 38.2% Fibonacci level and if it can get through that we could see this pair trade up to 1.47660 which is the high set back in early January of this year. We will be placing our stop with a break of 1.43890, if this pair breaches this level prior to initiating a position our view will turn neutral and further evaluation will be needed.
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