EURAUD might be done with its recent rallies, as a reversal pattern seems to be forming on its 4-hour time frame. Price is in the middle of completing a head and shoulders formation but has yet to create the right shoulder before confirming the potential selloff. The neckline is located at the 1.5375-1.5400 area and…

Price is at the 1.57500 resistance level. The close of this candle will be very important to see if price closes over or below the area. If the stochastik stays over the 80% level then that is an indication that price is in a trending mode possibly heading higher. If it turns after the candle…

Low volatility for this euraud currency pair. Price is nearing the appex of the symmetrical triangle where an outbreak might be expected. Please see support and resistance levels for possible target where the currency is most likely heading. Some other euro pairs showed some upside movement therefore a bullish outbreak might come into play. But…

EURAUD has been in a steady downtrend on its longer-term time frames, with a descending trend line connecting the latest highs of price action. Price made a sharp pop higher after last week's ECB rate statement but it looks like the falling resistance area is still holding. This trend line coincides with the dynamic resistance…

Price is at the fair market value or at the 200 day moving average. The stochastic oscillator is at the 20 % level so I expect price to provide us with some bullish retracement. Price is also at an area of previous support acting now as resistance. Therefore it is likely for some buyers to…

Ideally we want to sell high so I plotted a resistance zone from 157.700 to 159.000. Should price reach this zone then I would treat it at as a sell zone. You may even have a sell limit order sitting at this area. The target would be 152.000. BEST OF PIPS

EURAUD has been trending lower on its 1-hour chart, moving below a falling trend line connecting the latest highs of price action. The pair just recently sold off upon hitting the trend line resistance then dipped to the 1.5150 minor psychological support before pulling back up. Using the Fibonacci retracement tool on the latest swing…

This chart might not be every mens cup of tea but if forced to trade even if this chart is messy one can see that higher highs and lows are provided. Price action is so near together that it mkes it less visual but I hope that with the numbers and the stochs cycles you…

Trading is very personal. What this means is that a system might be working for someone but not for everyone. Also the information needed to build a system has to be so specific that the trader himself has to see what works best and what does not. With this post I try to share information…

Trading in the direction of the trend as seen easily with the 200 MA. Two trades with higher probability could have been taken as seen with the green arrows. If in doubt stay out but if the indicators and price alligns take the trade. BEST OF PIPS

Price moves below all the moving averages which is a very bearish sign. Therefore we wait for bullish retracements to take our short trades. Three red arrows are provided for an easy understanding on when the trades could have been taken. I aide myself also with the help of MACD as a confirming indicator. These…

On this chart there are two blue arrows displayed. They have the purpose of showing the easier trading. Price is over all the moving averages on the chart. This means that the momentum of price is alligned with the overall trend. You may use the 5/8 cross for your entry and choose always to trend…

EURAUD has just gotten rejected on its test of the range resistance at the 1.6200 major psychological level and is now headed towards support at the 1.5600-1.5650 area. This follows the formation of a double top pattern visible on the short-term time frames and a neckline breakdown, indicating that price could fall by an additional…

This currency pair chart is quite similar to the eurusd chart. You may have noticed that the euraud provided you with a high at number one right at the beginning of the UK session. The purple 200 MA stayed practically flat the whole day. What this says is that we can expect a relatively sideways…

Let us have a look at this chart. This euraud 5 min chart does tell us one thing: to stay away. Please note that price is over the 200 day moving average so you should be bullish as long price stays over it. But note also how erratic the candles are with upper and lower…

One thing I like about this chart is that price broke support and provided us with a lower low. The second thing I like about it is that price is below the two major moving averages. I would therefore recommend to take short positions on this pair. A nice entry would be if price retraces…