EURAUD Forex Chart
EURAUD is a currency pair that has the Euro (EUR) as the base currency and Australia Dollar (AUD) as the base or quotes currency. A sell signal for EUR AUD implies selling the Euro and buying the Australia Dollar (AUD); that is hoping that the Euro will depreciate against AUD.
EUR / AUD Trade Signal
At Nys Trading, conditions that inform our decision to either buy or sell EURAUD is not different from those of other pairs. Our analysis for EUR AUD forex signals are based on both fundamental and technical analysis, and sometimes both methods may align to give us a clear signal.
Fundamental data such as interest rate, minutes of executive meetings coming from the Reserve Bank of Australia (RBA) will have a tremendous effect on the EURAUD pair.
Also, fundamental data such as interest rate and minutes of Federal executive meetings from the Eurozone will also have an effect on which direction EURAUD will move (south or north). Although the effect of these fundamental data can sometimes be clouded by the market sentiment from the big investors.
Like every other technical analysis, our EUR AUD forex signals are centered on major psycho, resistance and support levels; price action around these levels form the basis with which we decide to either sell or buy.
It has been proven by experienced technical analysts of the forex market that the forex chart is a reflection of the fundamental data being released from the economies of the pair being traded.
This is why prior to the release of a major news, our technical analysts already know where to set pending orders, and sometimes the trade calls might even be an instant execution based on price action at major confluence levels prior to the release of the data.
What do I get with the EURAUD Forex Signals?
For the EUR AUD forex signals, our subscribers will get the trade commentary and trade analysis with charts showing the reason why we are taking either a buy or sell position. In addition to this, we will give the entry price, stop loss and take profit, in some cases, we may send just the entry and stop loss and then send an update for the take profit later.
We do this sometimes when the pair is already on the move, and we do not want to miss out. Remember that your stop loss is much more important than the take profit, the take profit becomes relevant only when the trade is already in your favor.
Are there updates on your Signals?
Yes! As we all know that the forex market condition is dynamic, it changes at any time due to both fundamental and economic factors capable of influencing the pair that is being traded.
We update our clients from time to time on open positions; we let them know if we are closing or holding on to a particular trade, also we let them know if they are to adjust stops.