6 thoughts on “EURAUD Buy EOD trade setup – please evaluate yourself

  1. Hi Adam

    I have the following EMA 10,20,50,100 and 200 on all my charts.

    For EUR/AUD on my Weekly chart i had this level 1.50236 as a strong level of support until 23/03/2014.

    As from 24/03/2014 this level was broken and i thought we are heading for a downward trend. Price came up
    and re-tested this level 1.50236 (this level became a resistance as far as i’m concern) on the week ended 04/05/2014,
    at this point my 10 and 20 EMA were getting crossed indicating the trend is a downwards movement(in my opinion at the time). Please note that
    all this analysis is from my Weekly chart.

    My analysis seemed to have been incorrect looking at your analysis of this pair as you have indicated that it’s a
    trend-continuation LONG. One question I would like to ask for clarification:

    1. Could i take it that my 50 and 200 EMAs are my significant moving averages in determining the long term trend of the
    currency pair especially on a WEEKLY chart? i.e. on this pair they are still aligned indicating a trend-continuation LONG?

    Thanks for sharing your knowledge with us.


    Lebo Boikhutso
    +2772 160 1637

    • Hi Lebo,

      Yeeees, you can generally use the 50 and 200 EMA that way, but for me, it is more accurate to use the 20 and 50EMA- that way I am on the right side of a trend a lot sooner. But, what every trader should be checking first, is not the moving averages, but the highs and lows of the cycles of price-action. GBPAUD and EURAUD monthly price action is in an uptrend, therefore my brain is waiting and watching for the weekly and daily to fall in line with this… Hope this helps, Adam.

      • Thanks for the response Adam, it really helped.
        Any chance of you offering a course down here is South Africa in the near future?

  2. This trade has definitely closed out at a loss.Today’s bar is quite large, but again, seems to be intent on closing at the same level. Still showing bullish signs, but possibly best left alone until it decides to move properly.

  3. Depending on where your stop loss was or is, you’re still in the trade, or been closed out at breakeven, or with a small loss. As per EURAUD, this chart still leans toward the bullish side, but refuses to actually move (TREND) properly.

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