The release of Australia's CPI index on the upcoming Wednesday, July 31st, is anticipated to have a significant impact on the foreign exchange market. Specifically, a negative CPI figure is likely to weaken the Australian Dollar, thereby strengthening the EUR/AUD currency pair. Traders may consider selling this pair from clearly defined resistance levels above the current market price.
Monitoring Market News: Given the dynamic nature of the forex market, it's crucial to stay updated with relevant news and events that can impact the EUR/AUD pair. Keep an eye on economic releases, central bank announcements, geopolitical developments, and any other factors that may influence these currencies. By staying informed, traders can make more informed decisions and adjust their positions accordingly.
Monitoring Market News: Given the dynamic nature of the forex market, it's crucial to stay updated with relevant news and events that can impact the EUR/AUD pair. Keep an eye on economic releases, central bank announcements, geopolitical developments, and any other factors that may influence these currencies. By staying informed, traders can make more informed decisions and adjust their positions accordingly.
Note
Trade closed: target reached
target reached with 1:10 R:R
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.