Long the EUR/AUD
Updated
Right we were in this trade last week and made some nice pips , our view has not changed, we will be going long again at safer levels .
Reason for trade : EUR/USD getting a boost by the fed's dovish tone at the meeting, even though the rate was hiked by 0.25% already 80% priced in prior to the meeting by the market. No surprise apart from the language used as stated in our previous post.
So EUR is a good buy in our opinion based on the ECB statement with key words being withdrawn seen as hawkish, and well despite the AUD getting some profit taking and a retest based on the AUD/USD (profit taking) , the figures dont lie , commodity prices proping up the Aussie dollar short term, because the USD weakness , but ultimately we are bearish the AUD because unemployment rate rose to its highest level in 13 months, and NZD GDP significantly missed estimates also putting downward pressure on the Aussie .
Long @ safer confluence levels between 1.39-1.3930
PT level @ 1.4080
Stop @ 1.3850
We rate this trade out of ten (7.5)
Happy trading and stay tuned, as we will show you how to trade events soon .....
We have made alot of money over the last 24hrs based on the various market surprises if your interested leave a comment below :)
Reason for trade : EUR/USD getting a boost by the fed's dovish tone at the meeting, even though the rate was hiked by 0.25% already 80% priced in prior to the meeting by the market. No surprise apart from the language used as stated in our previous post.
So EUR is a good buy in our opinion based on the ECB statement with key words being withdrawn seen as hawkish, and well despite the AUD getting some profit taking and a retest based on the AUD/USD (profit taking) , the figures dont lie , commodity prices proping up the Aussie dollar short term, because the USD weakness , but ultimately we are bearish the AUD because unemployment rate rose to its highest level in 13 months, and NZD GDP significantly missed estimates also putting downward pressure on the Aussie .
Long @ safer confluence levels between 1.39-1.3930
PT level @ 1.4080
Stop @ 1.3850
We rate this trade out of ten (7.5)
Happy trading and stay tuned, as we will show you how to trade events soon .....
We have made alot of money over the last 24hrs based on the various market surprises if your interested leave a comment below :)
Trade active
Okay the trade is going well again, we got in @ 1.3930 and if your following us you will be in almost 100 pip profit, if your new to trading we recommmend closing out to enjoy your profits . We will however be letting this run to our desired target ,
Stop loss set and moved to 1.3980
Happy trading guys !!!!!!
Trade closed: stop reached
Okay we were stopped out for a modest 50 pips profit, we will be keeping you updated this week with this , looking to re enter at some point aswell , we could see a better entry level on this given the AUD/USD turn around based on the USD sentiment at the moment.
Better confluence zone levels to enter would be 1.3850- 1.3890
Stay tuned
Trade active
Okay , we got our entry @ 1.3880 long EUR/AUD , as we said we are bearish the Aussie dollar for reasons we have explained before, here is a bit more incite as to what's happened , the RBA minutes came out in the Asian session , here's the link for you ,news.forexlive.com/!/aud-continues-to-fall-looking-for-the-smoking-gun-in-the-minutes-20170321
What you need to also see is where have the buyers come in ? ( comments below please as we are interested ) and bear in mind this chart was drawn nearly 2 weeks ago ...
Our first TP Level is 1.4040 just below the last high of where the buyers lost control .
Next TP level will be on the .23 fib line, " longer term" @ 1.4085
We have moved our stop to 1.3920 and will be moving it higher as the trade plays out, so we don't get caught out
We rate this trade out of ten ( 8 )
This is very important : We have the stop in place as we have the RBNZ meeting tomorrow , and the GDT prices out today, should these events create a lacklustre tone for the NZ dollar, sometimes the Aussie can have a sympathy reaction .......
Stay tuned !!!!!!! other picks for the week are GBP/NZD and GBP/CAD.
Note
Stop moved to 1.39.50 ahead of GBP inflation data release.Happy trading!!!!!!!!
Trade closed: stop reached
Okay we're out for 70 pips profit , we will re enter at safer levels again Stay tuned and we will tell you our new levels ......
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