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Australian Dollar/Euro

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AUDEUR trade ideas

Falling towards 50% Fibonacci support?EUR/AUD is falling towards the pivot and could bounce to the 1st resistance which has been identified as a pullback resistance. Pivot: 1.6284 1st Support: 1.6169 1st Resistance: 1.6441 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Long
by ICmarkets
1
EURAUD Massive Short! SELL! My dear friends, EURAUD looks like it will make a good move, and here are the details: The market is trading on 1.6373 pivot level. Bias - Bearish Technical Indicators: Supper Trend generates a clear short signal while Pivot Point HL is currently determining the overall Bearish trend of the market. Goal - 1.6267 Recommended Stop Loss - 1.6442 About Used Indicators: Pivot points are a great way to identify areas of support and resistance, but they work best when combined with other kinds of technical analysis ——————————— WISH YOU ALL LUCK
Short
by AnabelSignals
1
Cross Currency Pairs and Strategies Connected with ThemCross Currency Pairs and Strategies Connected with Them Cross currency forex trading has emerged as an intriguing segment that presents unique opportunities and challenges. In this article, we discuss commonly traded pairs, liquidity challenges, and the factors influencing cross exchange rates. Additionally, we present three trading strategies to help traders navigate the dynamic scene of forex cross currency pairs. Understanding Cross Currency Trading Knowing the basic concept of cross currency trading and considering the most frequently traded pairs can open a new realm of opportunities for traders. Excluding the US Dollar Offers Opportunities Cross currency pairs, also known as "crosses," involve currencies that are not paired with the US dollar (USD). For instance, if the euro (EUR) is traded against the Japanese yen (JPY), it forms a cross currency pair. Cross currency pairs introduce diversification opportunities and allow traders to gain exposure to specific economies and their interconnections. Cross Currency Examples Traditionally, the best forex cross pairs to trade are those that involve currencies from major global economies other than the USA. Here are a few popular and widely traded forex cross pairs: - EUR/JPY (Euro/Japanese Yen): Known for its liquidity and considerable volatility, this pair attracts traders looking for opportunities in the Eurozone and Japan. - GBP/AUD (British Pound/Australian Dollar): This cross offers a mix of major currencies, providing exposure to two economically significant regions. - EUR/AUD (Euro/Australian Dollar): Combining the euro and Australian dollar, this pair is favoured for its liquidity and potential trend movements. - GBP/JPY (British Pound/Japanese Yen): Renowned for its volatility, this pair is favoured by traders seeking the potential for substantial price movements. Cross Currency Pairs May Have Liquidity Issues While cross currency pairs provide diversification opportunities, traders need to navigate potential liquidity challenges. Less popular crosses often exhibit wider spreads, diminishing their attractiveness due to the increased transaction costs. The lower liquidity in these pairs can result in slippage, where the execution price deviates from the expected price at the time of order placement. To mitigate these challenges, traders implement advanced order types, like limit orders, which can potentially further enhance precision in trade execution, and stop-loss orders, which can potentially help limit potential losses. Key Factors Affecting Cross Currency Rates When considering major cross currency pairs, traders focus on the specific conditions of the countries involved in the pair. - Interest Rates: Variances in interest rates between the two countries can significantly impact cross currency rates. Traders often monitor central bank decisions to anticipate interest rate changes. - Economic Indicators: Economic data, such as GDP growth, employment figures, and inflation rates, play a crucial role in influencing cross currency exchange rates. - Political Stability: Political events and stability in each country can impact investor confidence, leading to fluctuations in cross currency rates. Trading Strategies for Forex Cross Currency Pairs Effective forex strategies that exploit cross rate exchange discrepancies involve some of the most popular technical indicators. Price Divergence Strategy: EUR/AUD In this example for the EUR/AUD cross currency pair, traders use the divergence between the price and the On-Balance Volume (OBV) indicator to decide on taking long or short positions. Additionally, the MACD indicator is used to identify precise entry and exit points. Entry Traders look for a bearish/bullish divergence between the price and the OBV: the price is moving up/down, while the OBV is moving lower/higher, signalling a potential reversal of price momentum. The MACD line crossing below/above the signal line confirms a potential short or a long entry. Stop Loss Stop loss may be placed above/below the recent swing high or low for short and long positions, respectively. Take Profit Traders may set a take-profit target at a predefined support/resistance level or when the MACD line shows signs of a potential reversal. You can visit FXOpen and try out the available technical analysis tools on our free TickTrader trading platform. Bollinger Bands, Stochastic, and ADX Strategy: GBP/JPY This strategy is effective in ranging markets. Bollinger Bands help identify price volatility, and the Stochastic Oscillator assists in pinpointing potential reversal points within the range. Traders often include the Average Directional Index (ADX) to assess the strength of the range-bound market. Entry Traders may consider a long/short position when the price touches the lower/upper Bollinger Band and then reverses. The signal should be confirmed by the Stochastic Oscillator moving above/below the oversold/overbought level, while the ADX should have low values, which confirms the weakness of the current trend. Stop Loss Traders may consider placing a stop loss just outside the Bollinger Bands for both long and short positions, taking into account their risk preference. Take Profit For long/short positions, traders might take profit when the price touches the opposite Bollinger Band and the Stochastic Oscillator makes a bearish/bullish reversal. Price Reversal Strategy: EUR/JPY This strategy aims to identify potential trend reversals based on overbought or oversold conditions as indicated by the Relative Strength Index (RSI) and the Money Flow Index (MFI). Entry Traders may consider entering a long/short position when both RSI and MFI indicate oversold/overbought conditions, typically below 30 and above 70 for RSI and below 20 and above 80 for MFI. Stop Loss The theory states that a stop loss may be placed just below/above the recent swing low/high or a significant support/resistance level, depending on the trader’s risk management goals. Take Profit Take-profit targets might be based on potential reversals in the opposite direction of the trade, signalled by both RSI and MFI being in the overbought/oversold area. Final Thoughts Cross currency trading provides a unique avenue for diversification and strategic opportunities. Understanding the challenges and employing effective strategies involving multiple indicators may empower traders to deal with this complex but rewarding segment of the forex market. You can open an FXOpen account and try your advanced cross currency pairs trading strategies. This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Education
by FXOpen
1
EUR/AUD "Euro-Aussie" Bank Money Heist Plan on Bullish SideHello!! My Dear Robbers / Money Makers & Losers, 🤑 💰 This is our master plan to Heist EUR/AUD "Euro-Aussie" Bank based on Thief Trading style Technical Analysis.. kindly please follow the plan I have mentioned in the chart focus on Long entry. Our target is Red Zone that is High risk Dangerous level, market is overbought / Consolidation / Trend Reversal / Trap at the level Bearish Robbers / Traders gain the strength. Be safe and be careful and Be rich. Entry 📈 : Can be taken Anywhere, What I suggest you to Place Buy Limit Orders in 15mins Timeframe Recent / Nearest Low Point take entry should be in pullback. Stop Loss 🛑 : Recent Swing Low using 1H timeframe Attention for Scalpers : Focus to scalp only on Long side, If you've got a lot of money you can get out right away otherwise you can join with a swing trade robbers and continue the heist plan, Use Trailing SL to protect our money 💰. Warning : Fundamental Analysis news 📰 🗞️ comes against our robbery plan. our plan will be ruined smash the Stop Loss 🚫🚏. Don't Enter the market at the news update. Loot and escape on the target 🎯 Swing Traders Plz Book the partial sum of money and wait for next breakout of dynamic level / Order block, Once it is cleared we can continue our heist plan to next new target. 💖Support our Robbery plan we can easily make money & take money 💰💵 Follow, Like & Share with your friends and Lovers. Make our Robbery Team Very Strong Join Ur hands with US. Loot Everything in this market everyday make money easily with Thief Trading Style. Stay tuned with me and see you again with another Heist Plan..... 🫂
Long
by Thief_Trader