Dovish ECB and hawkish Fed paint a bearish outlook for the EUR/USD. Is declining to 1.0770 the next stop?
Trade opportunities in EUR/AUD
2020-10-14 • Updated
EUR/AUD formed a candlestick with a long upper shadow on the D1. The pair is currently testing levels below the 50- and the 100-day moving averages. At the same time, there is still support in the 1.6325/1.6300 area. We will be sure about selling only when the price falls below it. The break out of the consolidation range will open the way down to the 78.6% Fibonacci retracement level at 1.6225. On the other hand, the return above 1.6360 will lead to formation of an interim bottom and trigger a recovery at least to 1.6400. Whatever the way, it will be possible to open good trades.
Trade ideas for EUR/AUD
BUY 1.6365; TP 1.6390; SL 1.6355
SELL 1.6290; TP 1.6230; SL 1.6310
Last week, EURUSD broke below a significant support level, the gas price retested its October high, and the oil prices managed to correct lower on the bearish signs of more oil supplies coming into the market.
This article will analyze the possible scenarios for the EU, and what's more important, look at the charts. There is a lot to see, let's go!
What happened? US stocks ended sharply higher on Thursday, May 27, after a 7-week losing streak…
Next week, we expect the BOC rate statement, the OPEC+ meeting, and the Nonfarm payrolls release. Let's look at the opportunities in detail!
Amazon announced the company is going to make a 1 – 20 stock split on June 3 after the trading session close (23:30 GMT+3).