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Tag Archives: EUR/AUD
The EUR/AUD is forming a new uptrend on the D1 time frame. Traders can set a buy alarm at the 1.4775 level. The upside potential on this new trend is as high as the 1.5500 resistance level, so entering this trend has excellent upside potential. When the price alert hits check The Forex Heatmap® for trade entry verification signals. The trend charts you see for the EUR/AUD are exponential moving averages which are easy to set up. These trend indicators can be used to follow the major trends of the forex market and our trend based trading plans.
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 in forex trading AUD (Australian Dollar) pairs signaled strength across the board. This created strong movements and several trading opportunities on trending pairs. The AUD/CHF moved higher in its uptrend and should continue higher. The EUR was mostly weak so the EUR/AUD sold off and should continue down to at least the 1.4650 support level, as this pair is in a strong downtrend.The GBP/AUD also sold off hard, this pair should also continue down to the 2.0825 support level. The AUD strength signals you see below are from The Forex Heatmap®, which provides reliable daily forex signals for the AUD and a total of 8 currencies, and 28 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 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.
Today in forex trading the Australian Dollar (AUD) strength was evident on all pairs. The USD (US Dollar) and JPY (Japanese Yen) also had some weakness. The AUD/USD and AUD/JPY both had strong upward movements, and both pairs broke resistance levels. The AUD/USD could continue higher to the 0.8200 resistance and the AUD/JPY could also continue higher to the 96.50 resistance area. The EUR/AUD also broke thorough important support and the strong downtrend on this pair should take over from here. The forex trading signals you see below are from The Forex Heatmap®, a visual map of the forex market.
Today in currency trading the EUR/AUD moved up very strong on the trading signal you see below. The EUR (EUR) was strong on all pairs and the AUD (Australian Dollar) was also weak. This pair is trending higher on the D1 time frame. Since the overall trend on the EUR/AUD is down on the largest time frames we would scale out some lots and take some profit, however this pair could continue higher for another day or two. The trading signals you see below are from The Forex Heatmap®, our live signal system for 28 currency pairs.
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.
Today in forex trading the EUR strength cased movement on many pairs. The Euro (EUR) was strong on all pairs, there was also some AUD (Australian Dollar) and CHF (Swiss Franc) weakness on the market. The EUR/AUD moved up strong and is forming a D1 time frame trend. It still has more upside and we will be preparing more trading plans to buy this pair. The EUR/CHF also moved up strong and this pair will likely continue higher as it has no nearby resistance. The live trade signals you see below for these EUR pairs are from The Forex Heatmap®.