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TCI Forex Trading Signals (EURUSD and AUDUSD)

Forex Trading Signals using Trading Center's Technical Analysis System (TCI)

EURUSD -The Euro against the US Dollar

Currently EURUSD is trading at 1.34874, correcting from its recent high of 1.38314 (25th of October 2013). In two recent Forex Signal articles we have mentioned that EURUSD is expected to form a new mid-term high in late October, and using TCI we have indicated as a possible date, the 23th of October 2013. Actually EURUSD formed a new high, but two days later (in the 25th of October). Not a very bad forecast given that it is was made in the 13th of October. » The EURUSD signal is found here

Using Price Action and TCI we are going to investigate what happens next regarding EURUSD and AUDUSD.

EURUSD Price Action

The current EURUSD price action is clearly bearish in both H1, H4 charts while there is a confirmation on the D1 chart. But is seems that the long-run charts W1 and M1 are still in a bullish channel that it is just correcting.

Note that statistically November and December are good months for EURUSD. Using historical daily data since 2000, here are some facts about EURUSD monthly returns:

■ November 2013: +4.93% on average (7 times Bullish ↑ and 6 times Bearish )

December 2013: +20.7% on average (8 times Bullish ↑ and 5 times Bearish ↓)

Of course that is just what statistics suggest and we should not jump to easy conclusions. Here is the TCI data table starting in the 18th of October and including the forecast for the upcoming weeks.

EURUSD TCI Analysis 

Date Close High Low Change (%) Volatility TCI
2013.10.18 1.36841 1.3703 1.36585 0.07% 0.3% 3.03%
2013.10.21 1.36788 1.36876 1.36503 -0.04% 0.3% 3.01%
2013.10.22 1.37803 1.37911 1.36617 0.74% 0.9% 4.21%
2013.10.23 1.37747 1.37922 1.37408 -0.04% 0.4% 4.74%
2013.10.24 1.38001 1.38244 1.37638 0.18% 0.4% 4.19%
2013.10.25 1.38017 1.38314 1.37737 0.01% 0.4% 3.95%
2013.10.27 1.38075 1.38095 1.38041 0.04% 0.0% 3.93%
2013.10.28 1.37853 1.38168 1.37742 -0.16% 0.3% 3.04%
2013.10.29 1.37449 1.38123 1.37357 -0.29% 0.6% 2.51%
2013.10.30 1.37362 1.37842 1.36951 -0.06% 0.7% 2.20%
2013.10.31 1.35876 1.37379 1.35745 -1.08% 1.2% 0.20%
2013.11.01 1.34874 1.35886 1.34793 -0.73% 0.8% -0.98%
(+1 trading Day)  REGIONAL LOW          -1.92%
(+2 trading Days)            -1.74%
(+3 trading Days)            -1.55%
(+4 trading Days)            -1.21%
(+5 trading Days)            -0.85%
(+6 trading Days)            -1.12%
(+7 trading Days)  REGIONAL HIGH         -0.76%
(+8 trading Days)            -0.81%
(+9 trading Days)            -1.20%
(+10 trading Days)            -1.07%
(+11 trading Days)            -1.28%
(+12 trading Days)  REGIONAL LOW         -1.45%
(+13 trading Days)            -1.02%

AUDUSD -The Australian Dollar against the US Dollar

AUDUSD course was part of our latest Forex Signal (October, 20th). By that time AUDUSD was trading at 0.96752 and we have forecast a bullish trend continuation. AUIDUSD indeed moved up to 0.97562 after a few days (October, 23). Since then AUDUSD trend reversed and now it is moving in a short-term downtrend, (current level 0.94359). » Here is the AUDUSD Forex Signal

Here is TCI data regarding AUDUSD and a forecast for the upcoming weeks.

AUDUSD TCI Analysis 

Date Close High Low Close Change (%) Volatility TCI
2013.10.14 0.94872 0.95061 0.94243 0.94872 0.22% 0.9% 4.63%
2013.10.15 0.95252 0.95464 0.94771 0.95252 0.40% 0.7% 5.36%
2013.10.16 0.95508 0.95559 0.94979 0.95508 0.27% 0.6% 5.86%
2013.10.17 0.96345 0.9646 0.95262 0.96345 0.88% 1.3% 6.96%
2013.10.18 0.96752 0.96761 0.96033 0.96752 0.42% 0.8% 7.53%
2013.10.21 0.96518 0.9678 0.96415 0.96518 -0.24% 0.4% 6.61%
2013.10.22 0.97056 0.97295 0.96425 0.97056 0.56% 0.9% 6.39%
2013.10.23 0.96216 0.97562 0.9606 0.96216 -0.87% 1.6% 4.97%
2013.10.24 0.96207 0.96698 0.95707 0.96207 -0.01% 1.0% 4.37%
2013.10.25 0.95826 0.96232 0.9571 0.95826 -0.40% 0.5% 3.35%
2013.10.27 0.95853 0.95865 0.95814 0.95853 0.03% 0.1% 3.08%
2013.10.28 0.95711 0.96214 0.95547 0.95711 -0.15% 0.7% 2.23%
2013.10.29 0.94787 0.9574 0.94709 0.94787 -0.96% 1.1% 0.83%
2013.10.30 0.94803 0.95147 0.94404 0.94803 0.02% 0.8% 1.00%
2013.10.31 0.94585 0.95245 0.94503 0.94585 -0.23% 0.8% 0.21%
2013.11.01 0.94359 0.94884 0.94206 0.94359 -0.24% 0.7% -0.58%
(+1 trading Day)  REGIONAL LOW            -1.76%
(+2 trading Days)               -0.93%
(+3 trading Days)               -0.68%
(+4 trading Days)               -0.96%
(+5 trading Days)               -0.40%
(+6 trading Days)               -0.42%
(+7 trading Days)               -0.35%
(+8 trading Days)   REGIONAL HIGH            -0.17%
(+9 trading Days)             -0.45%
(+10 trading Days)               -0.91%

The most probable scenario for the week ahead, is that we are going to see a short turnaround. That means that EURUSD is expected to form a new Regional Low (↓) on Monday the 4th of November and then move again in an uptrend (↑). That correctional uptrend is expected to last at least a few days. The same picture is expected as concerns AUDUSD. AUDUSD is expected to form a new Regional Low on Monday, the 4th of November, and then move also upwards for a few days.

Free Forex Trading Signals

TradingCenter.org (November, 3rd 2013)

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