{"id":59255,"date":"2014-08-25T08:32:44","date_gmt":"2014-08-25T12:32:44","guid":{"rendered":"http:\/\/countingpips.com\/?p=59255"},"modified":"2014-08-25T08:45:45","modified_gmt":"2014-08-25T12:45:45","slug":"euraud-drops-to-fresh-9-month-low","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2014\/08\/euraud-drops-to-fresh-9-month-low\/","title":{"rendered":"EUR\/AUD Drops to Fresh 9-Month Low"},"content":{"rendered":"<div id=\"inves-3432494138\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">August 25, 2014<\/div><hr style=\"border: none; border-bottom: 3px solid black;\">\r\n<\/div><\/div><p>Technical Sentiment: <span style=\"color: #ff0000;\"><strong>Bearish<\/strong><\/span><\/p>\n<p><strong>Key Takeaways<\/strong><\/p>\n<ul>\n<li>German Ifo Business Climate Index dropped again, below expectations, to 106.3;<\/li>\n<li>Aussie strengthened by steady cash flows;<\/li>\n<li>Support break, offering EUR\/AUD an opening down to 1.4045 in the short term.<\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><em>Traders were quick to price in a fresh 9-month Lower Low for EUR\/AUD as soon as the markets opened on Monday, giving a green light for more losses in the short term.<\/em><\/p>\n<p>&nbsp;<\/p>\n<p><strong>Technical Analysis<\/strong><\/p>\n<p><a href=\"http:\/\/capitaltrustmarkets.com\/wp-content\/uploads\/2014\/08\/EURCAD-25th-August.png\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-5961\" src=\"http:\/\/capitaltrustmarkets.com\/wp-content\/uploads\/2014\/08\/EURCAD-25th-August.png\" alt=\"EURAUD 25th August\" width=\"700\" height=\"342\" \/><\/a><\/p>\n<p style=\"text-align: justify;\">EUR\/AUD long term downtrend remains intact and losses are likely to expand in the coming days. Price opened with a small gap below 1.4211 in the early hours on Monday and the ensuing rally caved once the gap was filled and a re-test of the previous support (now turned into resistance) was complete.<\/p>\n<p style=\"text-align: justify;\">Stochastic is located in extreme oversold territory on 4H and daily timeframes, based entirely on last week\u2019s sell-off. Although oversold conditions indicate the necessity for a correction and increased changes for a bottom formation, selling pressure continues to mount and bullish price action signals are nowhere to be found. Consequently, we\u2019re most likely to observe a sell-off acceleration this week, at least until price hits the next major support area.<\/p><div id=\"inves-3034011534\" class=\"inves-in-content inves-entity-placement\"><hr style=\"border: 1px solid #ddd;\">\r\n<div id=\"inpost_ads_header\">\r\n<p style=\"font-size:10px; float:left; color:#666;\">Free Reports:<\/p><\/div>\r\n<div id=\"inpost_ads\"> \r\n<p style=\"font-size:15px; float:left;\"><a href=\"https:\/\/goo.gl\/1ApBOV\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/investmacro.com\/wp-content\/uploads\/2018\/06\/graph_techs_PD.png\" align=\"left\" width=\"80\"  height=\"55\"\/><\/a>\r\n\t     <a href=\"https:\/\/goo.gl\/1ApBOV\"><b><u>Get Our Free Metatrader 4 Indicators<\/u><\/b><\/a> - Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter<\/p><br><br>\r\n<br>\r\n<br>\r\n<p style=\"font-size:15px; float:left;\"><a href=\"https:\/\/goo.gl\/f3RrHX\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/investmacro.com\/wp-content\/uploads\/2019\/01\/cot_pie_80.png\" align=\"left\" width=\"80\"  height=\"55\"\/><\/a>\r\n\t    <a href=\"https:\/\/goo.gl\/f3RrHX\"><b><u>Get our Weekly Commitment of Traders Reports<\/u><\/b><\/a> - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.<\/p><br><br>\r\n<\/div>\r\n<hr style=\"border: 1px solid #ddd;\">\r\n<br><\/div>\n<p style=\"text-align: justify;\">While EUR\/AUD remains below 1.4211, 7<sup>th<\/sup> November 2013 Low of 1.4050 will be a likely attraction point for sellers, together with the large psychological handle 1.4000.<\/p>\n<p style=\"text-align: justify;\">A daily close above 1.4211 would indicate the current dip as a fake support breakout. Traders are advised not to persist with short positions if this event comes to reality, because they could be caught in a 200pip bullish correction (4H 200SMA is the usual target for corrections, currently priced at 1.4375).<\/p>\n<p>*********<br \/>\nPrepared by Alex Z., Chief Currency Strategist at <a href=\"http:\/\/www.capitaltrustmarkets.com\/\">Capital Trust Markets<\/a><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Technical Sentiment: Bearish Key Takeaways German Ifo Business Climate Index dropped again, below expectations, to 106.3; Aussie strengthened by steady cash flows; Support break, offering EUR\/AUD an opening down to 1.4045 in the short term. Traders were quick to price in a fresh 9-month Lower Low for EUR\/AUD as soon as the markets opened on [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-59255","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/59255","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=59255"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/59255\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=59255"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=59255"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=59255"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}