Trading Outlook – EUR/AUD

Click here to learn how to use my trade calls!

Originally updated: 7:30

Trading Bias:

Currency pair:

Current Sentiment:

In today’s trading session we will be focussing on selling opportunities on the EUR/AUD.


Overnight Australian (retail sales, trade balance) both came out relatively in line with expectations and as such didn’t spur a market reaction, later in the session however we had comments from RBA’s deputy Gov Lowe. Lowe was less dovish than expected and stated the RBA was not using policy to push the AUD lower, this in conjunction with their decision to keep rates on hold earlier in the week supported the AUD.

Leading into the ECB rate statement today we can only expect the EUR to be under selling pressure, we don’t expect the ECB to say anything new as they will be wanting to gauge the effects of QE prior to any further market moving rhetoric.

We can look for opportunities to short the pair leading into the event should the EUR rally, the wild card to watch out for on this trade is SNB intervention – the EUR was under selling pressure throughout yesterday’s session this is a concern of the SNB’s and we have witnessed a pattern of intermittent intervention on the EUR/CHF. Watch out for EUR/CHF and USD/CHF rallies to gauge whether the SNB are at play in the markets trying to devalue their currency, should that occur the EUR will strengthen across the board.


We expect this pair to sell off during today’s session.

There is strong resistance at 1.4250 which could provide trading opportunities should the price pull back. Look for the price to bounce off this level if it retraces back to it.

Remember to be aware of intra-day news as this can very often change the sentiment which makes our trade weaker. Look for any news that could be positive for this pair, which would change the sentiment to bullish.

Other Market Moving News:

Also on today’s calendar we have UK rate decision and MPC Rate Statement, weekly US unemployment claims and Canadian Ivey PMI later in the session.

To get daily market insights from Jarratt Davis delivered to your inbox simply enter your name and email below:

The post Trading Outlook – EUR/AUD appeared first on Jarratt Davis.

Source:: Trading Outlook – EUR/AUD

About the Author
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]

Related Posts

Leave a Reply