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Free Forex Trading Signals: The Australian Dollar against GBP, EUR and USD

The Australian Dollar is on the Move 

Recently, the Australian Dollar has entered a strong trend against other majors. By using MT4 technical analysis and the Trading Center Indicator (TCI) we are going to investigate if that trend is going to last or we are reaching the point of completion and we should expect a reversal. But first lets evaluate our previous Forex analysis on EURUSD.

Evaluation of the previous Forex Signal on EURUSD

In the 11th of October we published an analysis on EURUSD. By that time there was no clear EURUSD trend but we have mentioned that the most probable scenario is a new regional high ahead “the most probable scenario is that EURUSD will try ones more to form a new high (+8 trading days), and after that, a trend reversal (↓) is very probable to occur”. Press the tab below to see more:

In this previous article we have also indicated two major EURUSD levels:

Bullish Trigger: 1.358

Bearish Trigger: 1.345

EURUSD at that time: 1.3541

The EURUSD bullish trigger level 1.358 was reached and after we have witnessed a very strong uptrend to 1.3703. Now if we take a look to the TCI indications table on the same article we are going to see that TCI forecasted a regional high +8 trading days ahead. That means 8 trading days after the 11th of October or else Wednesday, the 23rd of October. That date is closing, so we our soon going to evaluate the accuracy of this TCI indication made in the 11th of October.

Here is the article: » Forex Trading Signals: EURUSD 

The Australian Dollar against Euro, US Dollar and British Sterling

We are going to investigate the Australian Dollar against the EUR, USD and GBP.

First of all we must understand that the Australian Dollar has witnessed a great selling pressure during the past year, and more specifically a selling pressure that started after the summer of 2012. During summer 2012, EURAUD was traded at about 1.16 while during summer 2013 the EURAUD formed a new high above 1.50. That was a tremendous move with high implications in the real economy of Australia. From that point of view, the current Australian Dollar correctional move against EUR, USD and GBP is absolutely rational to occur. What is left to be answered is if that move is purely correctional or there is a high probability for a new trend to be formed. 

British Sterling (GBP) against the Australian Dollar (AUD)

Currently at 1.67027

GBP/AUD is found moving in a clear downtrend. The price action indicates a falling market on the H4 chart while there is a pure confirmation by the D1 chart too. Major mid-term support is found at 1.6589. Other mid-term major support levels include 1.6385 and after 1.6160. Of course that is just what the price action is suggesting and we should certainly investigate more facts before making any conclusions.

Chart: GBP/AUD (MT4 1-Day)

Free Forex Trading Signals

If we take a look at the following TCI indications we are going to see GBPAUD to be close to the end of the downtrend. The formation may be completed after 4 or after 9 trading days : 24 October 2013 | Friday the 1st of November 2013.

There, according to TCI, we are probably going to see an uptrend to arise.

GBP/AUD TCI Table

The upcoming TCI indications regarding the British Sterling (GBP) against the Australian Dollar (AUD)

 

Date Close High Low Change (%) Volatility (%) TCI
2013.09.19 1.69801 1.70041 1.68707 0.16% 0.8% -2.72%
2013.09.20 1.70299 1.70512 1.69528 0.29% 0.6% -1.85%
2013.09.23 1.70031 1.70797 1.69554 -0.16% 0.7% -1.21%
2013.09.24 1.70373 1.70618 1.6983 0.20% 0.5% -1.26%
2013.09.25 1.71621 1.7181 1.70294 0.73% 0.9% 0.49%
2013.09.26 1.71269 1.71885 1.70659 -0.21% 0.7% 0.90%
2013.09.27 1.73106 1.73304 1.71055 1.07% 1.3% 2.66%
2013.09.30 1.73631 1.74103 1.72642 0.30% 0.8% 2.99%
2013.10.01 1.72283 1.74183 1.72068 -0.78% 1.2% 1.39%
2013.10.02 1.72817 1.73871 1.71875 0.31% 1.2% 1.13%
2013.10.03 1.71823 1.73239 1.71738 -0.57% 0.9% 0.82%
2013.10.04 1.69676 1.72072 1.69537 -1.24% 1.5% -2.35%
2013.10.07 1.70620 1.71079 1.69727 0.55% 0.8% -1.76%
2013.10.08 1.70592 1.70801 1.6953 -0.02% 0.7% -1.87%
2013.10.09 1.68861 1.70775 1.68343 -1.02% 1.4% -3.06%
2013.10.10 1.68895 1.69528 1.68442 0.02% 0.6% -2.74%
2013.10.11 1.68432 1.69289 1.68094 -0.27% 0.7% -2.90%
2013.10.14 1.68338 1.69376 1.68175 -0.06% 0.7% -3.86%
2013.10.15 1.67880 1.68559 1.67076 -0.27% 0.9% -4.03%
2013.10.16 1.66907 1.68439 1.66771 -0.58% 1.0% -4.75%
2013.10.17 1.67721 1.67885 1.6663 0.49% 0.8% -4.02%
2013.10.18 1.67027 1.68058 1.66989 -0.41% 0.6% -4.38%
            -3.86%
            -3.12%
            -2.82%
            -3.09%
            -2.88%
            -2.58%
            -2.90%
            -2.71%
            -3.13%
            -2.66%
            -1.79%
            -1.84%
            -1.95%
            -1.78%
            -1.68%
            -1.69%
            -2.03%
            -1.89%
            -2.28%

 

Euro (EUR) against the Australian Dollar (AUD)

Currently at 1.41393

EURAUD Price Action indicates a clear downtrend on the H4 chart, an indication that is clearly confirmed again by the D1 chart. We could see EURAUD at 1.3970 but even at 1.3860 during the upcoming weeks. But of course this is again what the price action is suggesting and we should be very careful as many factors (news ahead) may significantly change the demand and the supply levels of any currency market. TCI indicates again the completion of the downtrend cycle. Important dates towards the completion of the downtrend and the form of a new trend are again 4 trading days and 9 trading days: 24 October 2013 | Friday the 1st of November 2013.

Chart: EUR/AUD (MT4 1-Day)

The upcoming TCI indications regarding the Euro (EUR) against the Australian Dollar (AUD)

EUR /AUD TCI Table

 

Date Close High Low Change (%) Volatility TCI
2013.09.19 1.43305 1.4344 1.41961 0.92% 1.0% -4.10%
2013.09.20 1.43916 1.43958 1.43027 0.43% 0.7% -2.50%
2013.09.23 1.43019 1.44563 1.42713 -0.63% 1.3% -3.25%
2013.09.24 1.43437 1.43907 1.43031 0.29% 0.6% -2.84%
2013.09.25 1.44364 1.44497 1.43378 0.65% 0.8% -1.32%
2013.09.26 1.44028 1.44551 1.43631 -0.23% 0.6% -1.10%
2013.09.27 1.45063 1.45582 1.43847 0.72% 1.2% 0.11%
2013.09.30 1.45116 1.45369 1.44521 0.04% 0.6% 0.42%
2013.10.01 1.43880 1.45503 1.43572 -0.85% 1.3% -0.97%
2013.10.02 1.44643 1.4542 1.43633 0.53% 1.2% -0.52%
2013.10.03 1.44877 1.45449 1.44569 0.16% 0.6% 0.50%
2013.10.04 1.43678 1.45069 1.43343 -0.83% 1.2% -1.57%
2013.10.07 1.43977 1.44646 1.4354 0.21% 0.8% -1.94%
2013.10.08 1.43981 1.44099 1.43061 0.00% 0.7% -1.97%
2013.10.09 1.43148 1.44114 1.42732 -0.58% 1.0% -2.68%
2013.10.10 1.43015 1.43671 1.42685 -0.09% 0.7% -2.82%
2013.10.11 1.42986 1.43528 1.42717 -0.02% 0.6% -2.68%
2013.10.14 1.42849 1.43819 1.42724 -0.10% 0.8% -3.74%
2013.10.15 1.41919 1.42998 1.41408 -0.65% 1.1% -4.57%
2013.10.16 1.41649 1.4239 1.41434 -0.19% 0.7% -4.37%
2013.10.17 1.41897 1.42368 1.414 0.17% 0.7% -4.05%
2013.10.18 1.41393 1.42213 1.41321 -0.36% 0.6% -4.33%
            -3.82%
            -2.82%
            -2.50%
            -2.73%
            -2.60%
            -2.19%
            -2.26%
            -2.14%
            -2.39%
            -2.15%
            -1.64%
            -1.37%
            -1.87%
            -1.97%
            -1.50%
            -1.58%
            -1.85%
            -1.54%

 

Australian Dollar (AUD) against the US Dollar (USD)

Currently at 0.96752

As in the case of GBPAUD and EURAUD the price action is purely on favor of the Australian Dollar. That is confirmed by both H4 and D1 charts. The difference here is that the AUDUSD is closer to its major resistance levels than the other two pairs were on their support levels. Strong resistance is formed at 0.973 and after at 0.9820. TCI indicates an overbought market that is closing to completion. Important dates for AUDUSD completion can be found +3 trading days ahead and +9 trading days ahead: 23 October 2013 | Friday the 1st of November 2013.

Chart: AUD/USD (MT4 1-Day)

AUD/USD TCI Table

The upcoming TCI indications regarding the Australian Dollar (AUD) against the US Dollar (USD) 

 

Date Close High Low Change (%) Volatility TCI
2013.09.19 0.94359 0.95231 0.94262 -0.86% 1.0% 7.04%
2013.09.20 0.93945 0.94572 0.93768 -0.44% 0.9% 5.50%
2013.09.23 0.94288 0.94558 0.93649 0.36% 1.0% 5.11%
2013.09.24 0.93890 0.94297 0.93626 -0.42% 0.7% 4.48%
2013.09.25 0.93657 0.93925 0.93374 -0.25% 0.6% 3.01%
2013.09.26 0.93597 0.94005 0.93392 -0.06% 0.7% 2.45%
2013.09.27 0.93147 0.93739 0.92966 -0.48% 0.8% 1.95%
2013.09.30 0.93149 0.93531 0.928 0.00% 0.8% 1.82%
2013.10.01 0.93959 0.94343 0.92876 0.87% 1.6% 3.38%
2013.10.02 0.93835 0.94099 0.93326 -0.13% 0.8% 3.05%
2013.10.03 0.93931 0.9414 0.9366 0.10% 0.5% 2.40%
2013.10.04 0.94317 0.94575 0.93877 0.41% 0.7% 3.88%
2013.10.07 0.94258 0.94483 0.93871 -0.06% 0.7% 3.48%
2013.10.08 0.94222 0.94832 0.94109 -0.04% 0.8% 3.57%
2013.10.09 0.94424 0.94634 0.94122 0.21% 0.5% 3.48%
2013.10.10 0.94492 0.94707 0.93882 0.07% 0.9% 3.43%
2013.10.11 0.94663 0.94836 0.9434 0.18% 0.5% 3.80%
2013.10.14 0.94872 0.95061 0.94243 0.22% 0.9% 4.63%
2013.10.15 0.95252 0.95464 0.94771 0.40% 0.7% 5.36%
2013.10.16 0.95508 0.95559 0.94979 0.27% 0.6% 5.86%
2013.10.17 0.96345 0.9646 0.95262 0.88% 1.3% 6.96%
2013.10.18 0.96752 0.96761 0.96033 0.42% 0.8% 7.53%
            6.99%
            5.88%
            6.14%
            5.54%
            5.15%
            4.70%
            4.37%
            4.31%
            4.37%
            4.07%
            3.59%
            2.34%
            2.79%
            2.99%
            2.70%
            2.84%
            2.82%
            2.76%
            2.90%
            2.58%
            1.90%

■ Giorgos Protonotarios, Financial Analyst 

Forex Trading Signals using TCI -October, 20th 2013 (before opening)

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