Quotes by TradingView
Friday, April 16, 2021
Premium: TradeChat
No Result
View All Result
MrTopStep.com LLC
  • News
    • All
    • Reuters Business
    OP: Dow 34,000 and S&P 4,166 – The Gift That Keeps On Giving

    OP: Dow 34,000 and S&P 4,166 – The Gift That Keeps On Giving

    Goldman Sachs: Briefings

    Goldman Sachs: Briefings

    OP: Big Banks, Big Profits

    OP: Big Banks, Big Profits

    OP: S&P 500 Notches Another New High

    OP: S&P 500 Notches Another New High

    OP: Slow Trading Ahead of Earnings Reports

    OP: Slow Trading Ahead of Earnings Reports

    OP: Slow Trading Ahead of Earnings Reports

    Protected: OP: Slow Trading Ahead of Earnings Reports

    OP: S&P Futures Hit Another Record High, Reason for Concern?

    OP: S&P Futures Hit Another Record High, Reason for Concern?

    OP: S&P Futures Hit Another Record High, Reason for Concern?

    Protected: OP: S&P Futures Hit Another Record High, Reason for Concern?

    OP: Summer Stock Market Slowdown Comes Early

    OP: Summer Stock Market Slowdown Comes Early

  • Products
    • Chatroom Login
    • Wyckoff Trader
    • MIM
    • Polaris Trading Group
    • IM Pro Trading Chat Room
    • The Opening Print
    • FREE Daily Opening Print
  • Stocks
    • All
    • Apple
    • Dow Jones
    • Earnings
    • Facebook (FB)
    • Goldman Sachs (GS)
    • IPO
    • M&A
    • Markets
    • Mining
    • Nasdaq
    • NYSE
    • Russell 2000
    • S&P 500
    • Twitter (TWTR:NYSE)
    • VIX
    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: MORNING WRAP 16 APRIL: ASX to rise | Dow resets record on earnings | Stanmore Coal scoops up Peabody Energy coking coal mine in Australia |

    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: AFTERNOON WRAP 15 APRIL: Records beckon as ASX recovers from early tumble | Resolution Minerals hits target rock in all holes at Sunrise maiden drilling | China stocks fall as tightening fears mount ahead of GDP data |

    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: MORNING WRAP 15 APRIL: ASX to drop | Wall St mixed, oil leaps | Lithium explorers Galaxy Resources and Lithium Australia complete feasibility studies |

    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: AFTERNOON WRAP 13 APRIL: Zip soars 17% but miners keep ASX flat | Digital Wine Ventures posts fivefold increase in WineDepot orders, appoints COO | China blue-chips rise as export growth highlights global recovery |

    PEAK ASSET: MORNING WRAP 13 APRIL: ASX to edge up | S&P 500 ends modestly lower | Uranium explorer 92 Energy eyes ASX listing for mid-April |

    PEAK ASSET: AFTERNOON WRAP 12 APRIL: Miners weigh as ASX sags with US futures | Fatfish Group makes acquisition ahead of South East Asia BNPL rollout | China, HK stocks fall on persisting worries of policy tightening |

    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: MORNING WRAP 12 APRIL: ASX to rise | S&P 500 resets record high again | Arcadia looms large as an African lithium near-producer |

    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: MORNING WRAP 9 APRIL: ASX to slip | Wall St poised to end higher | Thinking of getting into ASX water stocks? Here’s what the experts think |

    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: MORNING WRAP 8 APRIL: ASX to rise | S&P 500 edges higher | Investors want quality copper stocks, Peak Minerals is on the radar |

    Trending Tags

    • FEEDID-6
    • FEEDID-51
    • FEEDID-44
    • FEEDID-31
    • FEEDID-21
    • FEEDID-16
    • FEEDID-36
    • FEEDID-10
    • feedid-56
    • feedid-58
    • feedid-61
    • feedid-59
    • feedid-60
    • feedid-62
    • feedid-63
    • feedid-65
    • feedid-66
  • Charts
    Dave Wilson’s Chart of the Day

    Dave Wilson’s Chart of the Day

    Jason Sen: FX, Gold, silver, WTI Crude

    Jason Sen: Stock indices

    Cabrera Capital Daily Game Plan

    Cabrera Capital Daily Game Plan

    SpyGate Logo Program Trading Dector

    SpyGate : Bots Light in the AM, Busy in the PM

    GMTT / Chart of the Day / Bitcoin (BTC/USD)  / April 16, 2021

    GMTT / Chart of the Day / Bitcoin (BTC/USD) / April 16, 2021

    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: MORNING WRAP 16 APRIL: ASX to rise | Dow resets record on earnings | Stanmore Coal scoops up Peabody Energy coking coal mine in Australia |

    Dave Wilson’s Chart of the Day

    Dave Wilson’s Chart of the Day

    Chart of the Day: AMZN Stock

    Chart of the Day: Keep an Eye on PINS Stock

  • Commentary
    • All
    • Market Recap
    • MrTopStep
    OP: Dow 34,000 and S&P 4,166 – The Gift That Keeps On Giving

    OP: Dow 34,000 and S&P 4,166 – The Gift That Keeps On Giving

    Danny’s Top Links – April 14, 2021

    Danny’s Top Links – April 16, 2021

    Goldman Sachs: Briefings

    Goldman Sachs: Briefings

    OP: Dow 34,000 and S&P 4,166 – The Gift That Keeps On Giving

    Protected: OP: Dow 34,000 and S&P 4,166 – The Gift That Keeps On Giving

    OP: Big Banks, Big Profits

    OP: Big Banks, Big Profits

    Danny’s Top Links – April 14, 2021

    Danny’s Top Links – April 15, 2021

    Covid Corner: How the UK Kicked the USA’s Ass in the Covid-19 Vaccine Race

    Covid Corner: How the UK Kicked the USA’s Ass in the Covid-19 Vaccine Race

    OP: Big Banks, Big Profits

    Protected: OP: Big Banks, Big Profits

    OP: S&P 500 Notches Another New High

    OP: S&P 500 Notches Another New High

  • Education
    • All
    • Economics
    • Trading Methods
    • Trading Psychology
    • Trading Room
    • Trading Rules
    • Webinars
    Chart of the Day: AMZN Stock

    Chart of the Day: Keep an Eye on PINS Stock

    Chart of the Day: AMZN Stock

    Chart of the Day: Nvidia Stock to Breakout?

    Chart of the Day: AMZN Stock

    Chart of the Day: The Russell 2000 (IWM)

    Chart of the Day: Ford Stock

    Chart of the Day: Ford Stock

    Chart of the Day: AMZN Stock

    Chart of the Day: AMZN Stock

    GMTT / Chart of the day / Apple / Oct 27, 2020

    GMTT / Chart of the day / Apple / Oct 27, 2020

    NASDOG.com: Corn, What Changed Today?

    NASDOG.com: Corn, What Changed Today?

    NASDOG.com: Stocks Getting Serious; Quick Word on Beans

    NASDOG.com: Stocks Getting Serious; Quick Word on Beans

    NASDOG.com: Full For a Bull

    NASDOG.com: Full For a Bull

  • NYSE Holidays
  • Video
  • News
    • All
    • Reuters Business
    OP: Dow 34,000 and S&P 4,166 – The Gift That Keeps On Giving

    OP: Dow 34,000 and S&P 4,166 – The Gift That Keeps On Giving

    Goldman Sachs: Briefings

    Goldman Sachs: Briefings

    OP: Big Banks, Big Profits

    OP: Big Banks, Big Profits

    OP: S&P 500 Notches Another New High

    OP: S&P 500 Notches Another New High

    OP: Slow Trading Ahead of Earnings Reports

    OP: Slow Trading Ahead of Earnings Reports

    OP: Slow Trading Ahead of Earnings Reports

    Protected: OP: Slow Trading Ahead of Earnings Reports

    OP: S&P Futures Hit Another Record High, Reason for Concern?

    OP: S&P Futures Hit Another Record High, Reason for Concern?

    OP: S&P Futures Hit Another Record High, Reason for Concern?

    Protected: OP: S&P Futures Hit Another Record High, Reason for Concern?

    OP: Summer Stock Market Slowdown Comes Early

    OP: Summer Stock Market Slowdown Comes Early

  • Products
    • Chatroom Login
    • Wyckoff Trader
    • MIM
    • Polaris Trading Group
    • IM Pro Trading Chat Room
    • The Opening Print
    • FREE Daily Opening Print
  • Stocks
    • All
    • Apple
    • Dow Jones
    • Earnings
    • Facebook (FB)
    • Goldman Sachs (GS)
    • IPO
    • M&A
    • Markets
    • Mining
    • Nasdaq
    • NYSE
    • Russell 2000
    • S&P 500
    • Twitter (TWTR:NYSE)
    • VIX
    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: MORNING WRAP 16 APRIL: ASX to rise | Dow resets record on earnings | Stanmore Coal scoops up Peabody Energy coking coal mine in Australia |

    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: AFTERNOON WRAP 15 APRIL: Records beckon as ASX recovers from early tumble | Resolution Minerals hits target rock in all holes at Sunrise maiden drilling | China stocks fall as tightening fears mount ahead of GDP data |

    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: MORNING WRAP 15 APRIL: ASX to drop | Wall St mixed, oil leaps | Lithium explorers Galaxy Resources and Lithium Australia complete feasibility studies |

    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: AFTERNOON WRAP 13 APRIL: Zip soars 17% but miners keep ASX flat | Digital Wine Ventures posts fivefold increase in WineDepot orders, appoints COO | China blue-chips rise as export growth highlights global recovery |

    PEAK ASSET: MORNING WRAP 13 APRIL: ASX to edge up | S&P 500 ends modestly lower | Uranium explorer 92 Energy eyes ASX listing for mid-April |

    PEAK ASSET: AFTERNOON WRAP 12 APRIL: Miners weigh as ASX sags with US futures | Fatfish Group makes acquisition ahead of South East Asia BNPL rollout | China, HK stocks fall on persisting worries of policy tightening |

    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: MORNING WRAP 12 APRIL: ASX to rise | S&P 500 resets record high again | Arcadia looms large as an African lithium near-producer |

    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: MORNING WRAP 9 APRIL: ASX to slip | Wall St poised to end higher | Thinking of getting into ASX water stocks? Here’s what the experts think |

    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: MORNING WRAP 8 APRIL: ASX to rise | S&P 500 edges higher | Investors want quality copper stocks, Peak Minerals is on the radar |

    Trending Tags

    • FEEDID-6
    • FEEDID-51
    • FEEDID-44
    • FEEDID-31
    • FEEDID-21
    • FEEDID-16
    • FEEDID-36
    • FEEDID-10
    • feedid-56
    • feedid-58
    • feedid-61
    • feedid-59
    • feedid-60
    • feedid-62
    • feedid-63
    • feedid-65
    • feedid-66
  • Charts
    Dave Wilson’s Chart of the Day

    Dave Wilson’s Chart of the Day

    Jason Sen: FX, Gold, silver, WTI Crude

    Jason Sen: Stock indices

    Cabrera Capital Daily Game Plan

    Cabrera Capital Daily Game Plan

    SpyGate Logo Program Trading Dector

    SpyGate : Bots Light in the AM, Busy in the PM

    GMTT / Chart of the Day / Bitcoin (BTC/USD)  / April 16, 2021

    GMTT / Chart of the Day / Bitcoin (BTC/USD) / April 16, 2021

    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: MORNING WRAP 16 APRIL: ASX to rise | Dow resets record on earnings | Stanmore Coal scoops up Peabody Energy coking coal mine in Australia |

    Dave Wilson’s Chart of the Day

    Dave Wilson’s Chart of the Day

    Chart of the Day: AMZN Stock

    Chart of the Day: Keep an Eye on PINS Stock

  • Commentary
    • All
    • Market Recap
    • MrTopStep
    OP: Dow 34,000 and S&P 4,166 – The Gift That Keeps On Giving

    OP: Dow 34,000 and S&P 4,166 – The Gift That Keeps On Giving

    Danny’s Top Links – April 14, 2021

    Danny’s Top Links – April 16, 2021

    Goldman Sachs: Briefings

    Goldman Sachs: Briefings

    OP: Dow 34,000 and S&P 4,166 – The Gift That Keeps On Giving

    Protected: OP: Dow 34,000 and S&P 4,166 – The Gift That Keeps On Giving

    OP: Big Banks, Big Profits

    OP: Big Banks, Big Profits

    Danny’s Top Links – April 14, 2021

    Danny’s Top Links – April 15, 2021

    Covid Corner: How the UK Kicked the USA’s Ass in the Covid-19 Vaccine Race

    Covid Corner: How the UK Kicked the USA’s Ass in the Covid-19 Vaccine Race

    OP: Big Banks, Big Profits

    Protected: OP: Big Banks, Big Profits

    OP: S&P 500 Notches Another New High

    OP: S&P 500 Notches Another New High

  • Education
    • All
    • Economics
    • Trading Methods
    • Trading Psychology
    • Trading Room
    • Trading Rules
    • Webinars
    Chart of the Day: AMZN Stock

    Chart of the Day: Keep an Eye on PINS Stock

    Chart of the Day: AMZN Stock

    Chart of the Day: Nvidia Stock to Breakout?

    Chart of the Day: AMZN Stock

    Chart of the Day: The Russell 2000 (IWM)

    Chart of the Day: Ford Stock

    Chart of the Day: Ford Stock

    Chart of the Day: AMZN Stock

    Chart of the Day: AMZN Stock

    GMTT / Chart of the day / Apple / Oct 27, 2020

    GMTT / Chart of the day / Apple / Oct 27, 2020

    NASDOG.com: Corn, What Changed Today?

    NASDOG.com: Corn, What Changed Today?

    NASDOG.com: Stocks Getting Serious; Quick Word on Beans

    NASDOG.com: Stocks Getting Serious; Quick Word on Beans

    NASDOG.com: Full For a Bull

    NASDOG.com: Full For a Bull

  • NYSE Holidays
  • Video
No Result
View All Result
MrTopStep.com LLC
Home Currencies Forex

EUR/AUD: Correction or Buying Opportunity?

GlobalFX by GlobalFX
Monday, August 12, 2013
in Forex
0 0
0
EUR/AUD: Correction or Buying Opportunity?
16
SHARES
114
VIEWS
Share on FacebookShare on Twitter

The Australian dollar has been one of the heaviest sold currencies these past few months, owing to a combination of rate cuts by the Reserve Bank of Australia and fears of slowing Chinese and Australian economies. Despite the ongoing chaos that is the Eurozone, and despite the fact that the European Central Bank has also cut their interest rates, EUR/AUD has managed to rally from 1.2220 to a recent high of 1.4993 since late March, really demonstrating exactly how weak the Australian dollar has been. This represents a gain of over 2,700 hundred pips in a very short stretch of time, and as we know the forex markets rarely move in a straight line for very long. This past week we finally saw the Australian dollar begin to rally, both specifically against the EUR and also across the board. The most recent weekly candle in EUR/AUD was strongly bearish, and while it didn’t quite achieve “bearish engulfing” status, it does suggest that we are seeing the beginning of a much needed bearish correction in EUR/AUD.FXdaily

As you can see from the weekly chart below, EUR/AUD formed an inverse head and shoulders pattern (a classic reversal pattern) off the 1.16 lows and rocketed higher from there. We have exceeded the typical measured move of such a pattern (measured by the yellow vertical line), adding further evidence to the case that a pullback is warranted.

fxweekly

If this is indeed the beginnings of a larger EUR/AUD correction, the first level that will have give way is the 1.44 figure, which as you can see from the daily chart, below, marks an importance confluence of trend-line and horizontal support. Below that level would mark a break of a trend-line that has lasted since early April, and would open up a move down toward the 50 day EMA (in red) which currently sits right below 1.42. On the other hand, if this is a brief correction in an otherwise strong uptrend; we should see the 1.44 level hold and the march higher to continue.   Those who are already short EUR/AUD should probably hold their shorts and watch the 1.44 level for a reaction. Those who are looking to initiate new positions on this pair have two options. Those who believe the Australian dollar is doomed to continue lower should look to buy as close to 1.44 as possible, using a daily close below that key figure as their stop. Those who believe this is the beginning of a strong move higher by the Aussie (strong move lower by EUR/AUD) should look to short EUR/AUD on a daily break and close below 1.44, targeting 1.42 then 1.37 (the 100 day EMA). A move back above 1.44 after the break and close could serve as a stop.

Written by: Liam McMahon, Currency Strategist – GlobalFxClub.com

Tags: featured
Previous Post

Overnight Update 8.12.13

Next Post

The USD/JPY Currency Chart Tells You More Than You Think

Related Posts

Cabrera Capital: Daily Game Plan
Charts

Cabrera Capital: Daily Game Plan

Friday, May 22, 2020
FxStreet: Morning Notes
Forex

FxStreet: Morning Notes

Wednesday, January 22, 2020
Forex

Upbit Exchange to Re-Open XRP, LTC and EOS Trading

Wednesday, January 8, 2020
Next Post
The USD/JPY Currency Chart Tells You More Than You Think

The USD/JPY Currency Chart Tells You More Than You Think

Please login to join discussion

Search

No Result
View All Result

MrTopStep Live Stream

Popular Posts

  • NYSE Holidays 2020 Stock Market Schedule

    NYSE Holidays 2021 | Stock Market Calendar

    2815 shares
    Share 1139 Tweet 699
  • S&P 500 projections: What the locals in the pit think

    277 shares
    Share 111 Tweet 69
  • Tuesday more of the same; be long, but careful

    246 shares
    Share 98 Tweet 62
  • Futures Circuit Breakers / Limits for today

    216 shares
    Share 86 Tweet 54
  • The dead cat bounce

    205 shares
    Share 82 Tweet 51

Subscribe to our Newsletter

The information in these Market Commentaries do not constitute a solicitation of the purchase or sale of any futures or options contracts.

Connect

Facebook Twitter Youtube

Office Hours

Monday-Friday: 7:30 AM- 4:00 PM
Order online 24/7

Ph: (207) 358-8545‬

email: info@mrtopstep.com

We Accept

© 2020 - MrTopStep All Rights Reserved.

No Result
View All Result
  • News
  • Products
    • Chatroom Login
    • Wyckoff Trader
    • MIM
    • Polaris Trading Group
    • IM Pro Trading Chat Room
    • The Opening Print
    • FREE Daily Opening Print
  • Stocks
  • Charts
  • Commentary
  • Education
  • NYSE Holidays
  • Video

© 2020 - MrTopStep All Rights Reserved.

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Free Webinar: MrTopStep Year End

Free Webinar: Looking at the Year End and 2021

With Danny Riley and the Team

Monday, December 7th @ 7pm ET

Register Now! (Limited room)