Trading Outlook – EUR/AUD

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Originally Updated: 07:00

Status: Pending

Trading period: SHORT

Currency pair: EUR/AUD

Entry: 1.4257-1.4320

Take profit: 1.4060Trading Outlook – EUR/AUD

Stop: 1.4380

Sentiment: Bearish

Market Focus: In today’s trade set up we will be focussing on selling opportunities on the EUR/AUD.

Fundamentals: The AUD gained earlier today as CPI data rose beating analysts forecasts. This is likely going to lead investors to cut bets on the RBA cutting rates next week. With the EU launching their QE program last week we will look to take advantage of any weakness in the EUR/AUD.
From the US we have the anticipated FOMC statement later today which will be closely watched to see if the Fed’s tone will have changed regarding inflation and the possible raising of rates in the near term.

Technicals: I am looking for selling opportunities on any decent rallies today, with a decent resistance area eyed out at 1.4257 and 1.4320. The higher level being preferred to the smaller stop loss.

Stop loss could be placed at 1.4380

Target area: 1.4060

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Source:: Trading Outlook – EUR/AUD

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Jarratt Davis is the world’s ranked #2 (2008-2013) Forex Trader by Barclays FX Hedge Index, following years of mastering his art as a self employed trader Jarratt has now entered the field of education and delivers the most robust Forex education package on the market. Jarratt’s mentorship is one of the only programs on the market that is conducted by a verified professional trader. Forex Alchemy readers can get the FREE mini course where Jarratt gives away some of his secrets to success by Clicking Here... [space height="20"] [social type="facebook"][/social] [social type="twitter"][/social] [social type="google-plus"][/social] [social type="youtube"][/social]

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