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Ahead of Aussie Interest rate decision, the expectation is to cut the rate of interest by 0.25% (1.75% to 1.50%). Though Interest rate decision is one important factor for price action move, RBA statement provides more fuel to the price factor. It's hard to predict the move of any currency during interest rate. Hence let's try to keep it simple. Holding Interest rate at 1.75% will fuel Aussie appreciation, failing which may lead to bearish Aussie. Inline with that, please find the daily chart an…
ijayakumar's Blog
EURAUD long may be the best trade now
Looking at the risk aversion market, Aussie bearish run doesn't seem to have an end now at least till this week. The main concern for all the countries around globe is poor Manufacturing PMI and the only exclusion is Europe which posted matching Manufacturing PMI with forecast. Hence it is better to bet on Euro and deny on Aussie in current situation. In line with that, please find the daily chart analysis of EURAUD,
Euro is clearly running very high over Aussie and more bullish run seems to be …
Euro is clearly running very high over Aussie and more bullish run seems to be …
EURAUD shows some hawkinshness but still struck in bearish range
EURO had some promising run for past 2 days over ECB's turnaround in not easing too much on the policy. EURO had great run against most of it's pairs. But the EURO still has lot of hurdles to move to gain the real bullish channel. Now, we will see the Technical analysis of this pair as follows,
Monthly chart:
- This pair had strong bearing run for last month starting from the doji which shows the bearish run was so strong.
- Current month had sudden counter spike which is good enough to stop th…
Monthly chart:
- This pair had strong bearing run for last month starting from the doji which shows the bearish run was so strong.
- Current month had sudden counter spike which is good enough to stop th…
EURAUD may consolidate until this year
Fundamentally EURO is falling and Aussie started appreciating over the employment data. Yet, I feel that EURO is poorly rated and hence I expect it to consolidate till this year around 1.46 region and resume it's bullish run from end of the year. Please find my chart analysis,
Monthly chart:
- This chart shows more dojis, when this pair is extending to touch the upside trend line which shows the upside weakness
- Trend lines also slowly forming a reduced price range which suggest a less price …
Monthly chart:
- This chart shows more dojis, when this pair is extending to touch the upside trend line which shows the upside weakness
- Trend lines also slowly forming a reduced price range which suggest a less price …
EURAUD is expected to form a range trading
As Aussie dollar starts appreciating against it's pair, it is expected to form a pattern with Euro before going further bearish. Please find the chart analysis,
Weekly chart:
- As suggested in the weekly chart, this temporary bearish move is expected to be a retracement for sometime
- Recent candle pattern also suggests a short term bearish move
Daily Chart:
- As drawn in daily chart, this pair is expected to form a range trading for upcoming days
- Previous support may act as a new resistance…
Weekly chart:
- As suggested in the weekly chart, this temporary bearish move is expected to be a retracement for sometime
- Recent candle pattern also suggests a short term bearish move
Daily Chart:
- As drawn in daily chart, this pair is expected to form a range trading for upcoming days
- Previous support may act as a new resistance…