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Tag Archives: AUD
Today in forex trading the AUD (Australian Dollar) was strong and the GBP (British Pound) was mostly weak. The GBP/AUD had a strong sell off. See the live trade signals pictured below. The GBP/AUD is trending down on the W1 time frame and it should continue down to the 1.9350 support zone. So any sells today will have additional pip potential beyond today’s movement. The AUD/CHF also had a buy signal and a strong movement higher. The trade signals you see below are from The Forex Heatmap®, which provides live signals for 28 pairs. The snapshot below is of the AUD pairs, but the heatmap also gives live signals for seven other currency groups in an easy to read format.
Today in currency trading the AUD (Australian Dollar) strength was evident on all pairs in the group, driving price movement. The GBP/AUD and EUR/AUD sold off. The GBP/AUD is trending down on the larger time frames and should continue lower. The EUR/AUD is starting to trend down on the D1 time frame, and has additional potential on this time frame. We will look to set more trading plans for selling these two pairs going forward. The currency strength signals you see below for today’s trading are from The Forex Heatmap®, which provides currency strength signals for 8 groups of currency pairs, including the AUD pairs and a total of 28 currency pairs.
Today the Chinese Yuan devaluation created strong movement and trading opportunities for forex traders. The Chinese Yuan (CNY) was allowed to appreciate 2% against the US Dollar (USD). The People’s Bank of China made this move due to the recent economic slowdown there, but was still very sudden and unexpected. This was the biggest one day drop in the value of the Yuan in 20 years. Chinese Yuan devaluation against the US Dollar by 2% is hoped to boost the Chinese economy.
This devaluation caused a strong reaction in the forex market. Currencies in the Asian region and currencies of Chinese trading partners were affected by the devaluation. The Japanese Yen (JPY), the Australian Dollar (AUD), and the New Zealand Dollar (NZD) were all affected by today’s devaluation. Most of the price movement and opportunities for forex traders today resulting from the Chinese Yuan devaluation were on these three currencies.
Chinese Yuan Devaluation, Impact On Traders
The AUD and NZD both tumbled on the Chinese Yuan devaluation news, but the Euro (EUR) also strengthened. This produced strong movements in the EUR/AUD and EUR/NZD pairs. The EUR/CAD also moved up strong as all commodity based currencies reacted to the devaluation news.
The impact of the devaluation news can produce intraday or trend based trading profits for forex traders. As you can see below, the trading opportunities on the AUD pairs alone was significant. The live indicators shown below, The Forex Heatmap® indicated buy signals on the EUR/AUD, EUR/NZD and EUR/CAD for intra-day or potential longer term buys. All three of these pairs are currently in up trends. This is a valuable lesson on how scheduled or unscheduled forex news and global events can bring profits to any trader. Using this type of real time signal system is highly beneficial.
The movements shown are significant intraday price movements. A 1.17 percent movement in the AUD/USD is about 80 pips, and a 0.93% movement in the EUR/AUD is about 150 pips. Since the EUR/AUD is trending up on the higher time frames, traders can use the Chinese Yuan Devaluation news as and entry point into the trend. Traders can also move their stops to break even, thus preserving their upside potential for even more pips. All traders should consider using The Forex Heatmap® in their trading tool set, along with some simple forex trend indicators.
Currency Devaluations and Interventions
It is important to remember that government interventions and devaluations have been tried many times in the past with various currencies. These devaluations and short term price fluctuations are artificial, and usually short term, due to the high liquidity of currency markets. The overall market forces like the larger time frame trends and interest rate direction will always be the strongest guide for the direction of currencies like the Chinese Yuan.
Today in forex trading The Forex Heatmap® had a trade alert for the AUD pairs. The AUD (Australian Dollar) weakness drove significant price movement on all pairs in the AUD group. There was also some EUR (Euro) strength in the market. The EUR/AUD had a very strong movement to the upside. This pair is currently ranging and should continue up to the next resistance area at 1.5250 resistance area, so we would scale out some lots on any buy trades today. The visual alert system you see below is The Forex Heatmap®, which provides visual forex trading alerts for 8 currency groups and 28 currency pairs.
Today in currency trading the AUD (Australian Dollar) strength drove strong price movement. The AUD/USD and AUD/CHF moved up strong after the Asian session interest rate news from Australia. These movements continued overnight and into the main session. These movements were strong but the longer term trends on these two pairs are still pointing down. So we scale out lots and take some profit. The currency strength indicator you see below is The Forex Heatmap®, which is a visual map of the forex market that provides live buy and sell signals for 8 major currency groups, including the AUD pairs.
Today in forex trading the EUR/AUD had a sell signal on The Forex Heatmap®. This pair sold off hard but it is not in a down trend, it is oscillating and ranging inside of support and resistance. Therefore we would scale out lots on any sells. The AUD/CHF moved up strong on the AUD strength, but this pair is in an overall downtrend, so once again we would scale out lots or exit completely. The Australian Dollar (AUD) was strong on all pairs. The heatmap gives live buy and sell signals for 28 pairs and eight major currency groups. It provides short term trading signals like the ones you see today on the AUD pairs, but if the pair is gives a signal on is trending, you can hold onto that trade for a swing trading style trade or position trade.
The GBP/AUD chart shown below shows that this pair is trending higher on the largest time frames, like the MN time frame chart shown below. The current price resistance on this pair is at 2.0530. You can set a price alert here. When the price alert hits check The Forex Heatmap® to confirm the buy entry. The next resistance levels is at approximately 2.2280, so this pair has substantial upside pip potential. The GBP/AUD chart shown below is 5/12 exponential moving averages
Today in forex trading the AUD/USD had a sell signal. The overall market had consistent US Dollar (USD) strength on all pairs. The JPY (Japanese Yen), AUD (Australian Dollar) and NZD (New Zealand Dollar) were also somewhat weak, contributing to the price movement on these pairs. The AUD/USD dropped and the next nearby support level is around 0.7700. As this pair approaches this support level we would scale out lots on any sell positions. Due to today’s market conditions the NZD/USD also dropped and the USD/JPY rose. The live AUD/USD trade signal you see below is from The Forex Heatmap®, which provides trading signals for 28 pairs, including the major USD pairs.
This is the AUD/CHF currency pair on the D1 time frame. The trend is now pointing down. We are setting a price alert at the 0.7505 price level, noted by the red line. Below there check The Forex Heatmap® for sell signals to validate the sell trade. This pair has some support at 0. 7400 and the next level below there is 0.7200. The analysis was performed using exponential moving average trend indicators we provide to our clients at no cost. Then we apply multiple time frame analysis of trends across all of the AUD and CHF pairs to properly analyze the AUD/CHF pair.
This is a chart analysis of the EUR/AUD trend on the W1 time frame. The trend is currently down. The current support level is around 1.3845, traders can set a sell alert here, when the alert hits look for a sell signal on The Forex Heatmap®. There is also one level nearby at 1.3800, but below there it has substantial pip potential, possibly down to 1.2500. The simple trend charts you see below are exponential moving averages, set on 5 and 12 time periods, they can be set up on any forex chart system.