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USD/ZAR, EUR/AUD, EUR/USD and US Payrolls

A bad LONG trade in USD/ZAR, before the US payrolls numbers and a EUR/AUD LONG trade that didn't pan out in the timeframe we were hoping for (due to margin reasons) set us back today.
A EUR/USD LONG trade seems promising as the pair seems poised to reach 1.14 and move on up from there in the month.
A USD/ZAR SHORT trade was also initialized with the pair having the potential of making a big movement. Will be monitoring this particular pair though and might opt out closing it sooner than expected.
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Buying Interest in the EUR/USD

After the FOMC statement--which was interpreted by the market as slightly hawkish--the EUR/USD dropped from it's maintained for weeks highs of 1.095. On Thursday's early European session technicals gave a signal of the downward movement to continue and thus we placed an order for a SHORT trade when price moves again below 1.088.
Nevertheless, the EUR/USD buying interest at the 1.088 level--which was briefly breached--brought the pair back up to its highs around 1.094. That movement which most li…
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EUR ON THE UP & UP - EURAUD

General chart outlook: Looking at the charts of EURO pairs it seems the EURO in general has reached key SUPPORT levels and is ready for a comeback. For the AUD pair in particular it seems UPWARD movement has a lot more room to grow after the pair BROKE UP THROUGH from the previous breakout, which had signaled the pair's downfall.

General Macro Outlook: Reading the past few FED statements it seems unlikely a rate hike is coming soon...even so, based on the charts even of the hike does happen, th…
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TheAnalyst avatar

The pair dropped rather quickly for about 350 pips right after this forecast was posted and right after the resigning PM, only to recover all lost ground and add 150 pips on top of that. At this point this sudden drop can only add strength to the forecast, although the consolidation pattern in the DAILY chart has yet to be broken confidently, something which will happen if the pair closes above 1.64 or better yet 1.66. With current price at 1.6075, time and maybe the US GDP numbers on Sep 25 will give a clearer picture.

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Positive Course for the EURAUD Pair

Using Monthly charts, we believe the EUR/AUD will break the major resistance at 1.55 as indicated in the first chart by the bold horizontal line (place at multiple previous lows followed by a definitive break price point) and will close the month (January) positively at around 1.5790, a Fibonacci level as seen in the second chart.
If that happens, by early March, the pair will move upwards at 1.5980 which is a 50% Fibonacci level and it's also around the same price level where the 200 MA rests a…
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ECB Conference Benefited the EUR Pairs

Managed to make a couple of positive trades in the EUR/USD pair today taking advantage ofthe momentum caused by the ECB conference.
Additionally, a quick trade with a 3.45 position in the EUR/AUD gave a relatively easy profit as the pair benefited from the ECB conference and didn't seem troubled at the time at the better than expected US GDP news.
Finally, took two longer-term positions, one on GBP/JPY since the pair seems to be in acorrection, setting the profit target at a Fibonacci level an…
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geula4x 31 Dic

+1 Liked: Nice trade based on the fundamental ECB news! Happy trading in 2014! :-)

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