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Free Forex Trading Signals: EURUSD and EURAUD February 2014

Free Forex Trading Signals -NovemberForex Trading Signals: EURUSD and EURAUD February 2014

In this analysis we are going to evaluate EURUSD and EURAUD during February 2014 using the TCI technical analysis model. According this technical analysis report, it seems that EURUSD has nearly completed a downtrend cycle and it will probably enter an uptrend correction in early February. On the other hand, EURAUD has recently proved highly overbought and now it is correcting.

As always, before investigating further the current conditions in the Forex Market we are going to evaluate our previous trading analysis regarding EURUSD published in January, 10th 2014.

Previous Forecast on EURUSD →PRESS THE SLIDE-BAR

In our previous signal (January, 10th 2014) we have forecasted that EURUSD shows a relative high probability for a downtrend. By that time EURUSD was trading at 1.36681. Today EURUSD is trading at 1.34864 and the downtrend has been fully confirmed as the signal has been confirmed within the forecasted timeframe (January 2014).

» Find the full EURUSD Analysis here..

FOREX TRADING SIGNALS -FEBRUARY 2014

(I) EURUSD ANALYSIS

Currently: 1.3668Starting with statistics and afterwards presenting the TCI indications for EURUSD.

EURUSD Statistics for the Month February 2014

According to TradingCenter.org analysis during the past 13 years, Euro against the US Dollar is usually weak, as concerns the first two months of each year.

■ January, on average -0.76% {6↑ 8↓}

■ February, on average -0.29% {7↑ 7↓}

» Check here EURUSD statistics during the past 13 years

Let’s find out what happens next regarding EURUSD using the TCI model..

TCI Technical Analysis Model on EURUSD

In the following table you are able to find TCI indications for EURUSD as concerns February 2014. TCI is able to forecast future price action and every single TCI indication corresponds to a single trading day in the future (settings). In that way we are able to define not only the trend but the timeframes as well. If you take a closer look to the TCI forecast you will see that the Model forecasts also the market opening in late Sunday. Sunday is included as TCI historical feed contains six and not five trading days. The results of TCI are focused in the future pattern and the upward and downward cycles incurred within that pattern.

Keep in mind that TCI is not designed to predict the future (no model can do that), it is designed to forecast the most probable price pattern, given neutral or weak news on the currency market.

Settings: TCI v1.2 | 1-Day → PRESS THE SLIDE-BAR BELOW

Table: TCI on EURUSD (February 2014) 

Date Close High Low Change Volatility TCI
2014.01.15 1.36033 1.368 1.35806 -0.54% 0.7% -0.39%
2014.01.16 1.36187 1.36487 1.35823 0.11% 0.5% -0.40%
2014.01.17 1.35397 1.36202 1.35164 -0.58% 0.8% -1.68%
2014.01.20 1.35512 1.35671 1.35068 0.08% 0.4% -1.05%
2014.01.21 1.35599 1.35678 1.35157 0.06% 0.4% -0.45%
2014.01.22 1.35459 1.35824 1.35339 -0.10% 0.4% -0.62%
2014.01.23 1.36946 1.36975 1.35296 1.10% 1.2% 1.07%
2014.01.24 1.36751 1.37384 1.36618 -0.14% 0.6% 0.56%
2014.01.27 1.3672 1.37158 1.36524 -0.02% 0.5% 0.28%
2014.01.28 1.3669 1.36877 1.36283 -0.02% 0.4% 0.00%
2014.01.29 1.36612 1.36839 1.36022 -0.06% 0.6% -0.11%
2014.01.30 1.35529 1.36645 1.35427 -0.79% 0.9% -1.89%
2014.01.31 1.34864 1.35722 1.34783 -0.49% 0.7% -2.38%
(+1 Trading Days) February, 2nd Possible Uptrend Correction     -1.96%
(+2 Trading Days) February, 3rd Downtrend -Local Low     -2.22%
(+3 Trading Days) February,4th Stronger Uptrend Correction (3 days)     -2.06%
(+4 Trading Days) February, 5th       -1.32%
(+5 Trading Days) February, 6th Uptrend -Local High     -1.18%
(+6 Trading Days) February, 7th Downtrend Correction     -1.38%
(+7 Trading Days) February, 9th Downtrend -Local Low     -1.63%
(+8 Trading Days) February, 10th New Uptrend     -1.45%
(+9 Trading Days) February, 11th       -1.29%
(+10 Trading Days) February, 12th Correction     -1.41%
(+11 Trading Days) February, 13th       -1.45%
(+12 Trading Days) February, 14th Uptrend Continues     -1.23%
(+13 Trading Days) February, 16th       -0.80%
(+14 Trading Days) February, 17th Uptrend -Local High     -0.40%
(+15 Trading Days) February, 18th Downtrend     -0.97%
(+16 Trading Days) February, 19th       -0.82%
(+17 Trading Days) February, 20th       -0.62%
(+18 Trading Days) February, 21st       -0.78%
(+19 Trading Days) February, 23rd Downtrend -Local Low     -1.09%
(+20 Trading Days) February, 24th New Uptrend     -0.84%
(+21 Trading Days) February, 25th       -0.69%
(+22 Trading Days) February, 26th       -0.40%
(+23 Trading Days) February, 27th       -0.45%
(+24 Trading Days) February, 28th Uptrend Local High     -0.14%

*As concerns US, February 17, 2014 is the President's Day

Based on TCI results, EURUSD is basically trading in oversold levels and it will probably correct upwards early in the week ahead. According to TCI a nice trade may occur in the 4th of February 2014 (entry) and completion during the next 2 days. Afterwards we will probably witness mixed trends lasting for 2-3 days and then corrections.

Note: For the first time, TCI Indications table includes specific comments on specific dates as concerns EURUSD during February 2014. As we mentioned before the TCI task is not to predict the future.

Here is a chart of EURUSD (1Day) with Williams %R in the bottom and 2 simple moving averages (50-day and 200-Day).

MT4 Chart: EURUSD (1Day)

(II) EURAUD ANALYSIS

Currently: 1.5398 | Starting with statistics and then presenting TCI indications for EURAUD and historical chart on MT4.

EURUSD Statistics for the Month February

According to TradingCenter.org analysis during the past 13 years, Euro against the Australian Dollar is usually weak as concerns January and especially as concerns February when Euro has under-performed 11 times and over-performed only 3 times. But of course that is only statistics we are talking about.

■ January, on average -0.54% {6↑ 8↓}

■ February, on average -0.46% {3↑ 11↓}

» EURAUD Statistics on TradingCenter

TCI Technical Analysis Model on EURAUD

In the following table you are able to find TCI indications as concerns EURAUD for February 2014.

Settings: TCI v1.2 | 1-Day → PRESS THE SLIDE-BAR BELOW

Table: TCI on EURAUD (February 2014)

Date Close High Low Change Volatility TCI
2014.01.15 1.52554 1.53228 1.52139 0.02% 0.7% 0.42%
2014.01.16 1.54379 1.55057 1.5251 1.20% 1.7% 1.70%
2014.01.17 1.54146 1.54809 1.54091 -0.15% 0.5% 1.15%
2014.01.20 1.53789 1.54328 1.53618 -0.23% 0.5% 1.27%
2014.01.21 1.53972 1.54209 1.5335 0.12% 0.6% 1.47%
2014.01.22 1.53011 1.54244 1.52344 -0.62% 1.2% 1.10%
2014.01.23 1.56154 1.56647 1.52991 2.05% 2.4% 3.47%
2014.01.24 1.57456 1.58293 1.55948 0.83% 1.5% 4.47%
2014.01.27 1.56365 1.57703 1.56005 -0.69% 1.1% 3.41%
2014.01.28 1.55679 1.56669 1.5486 -0.44% 1.2% 2.22%
2014.01.29 1.56291 1.56519 1.54726 0.39% 1.2% 3.78%
2014.01.30 1.54079 1.56712 1.54069 -1.42% 1.7% 0.06%
2014.01.31 1.53989 1.55873 1.53593 -0.06% 1.5% -1.38%
(+1 Trading Days) February, 2nd Possible Uptrend Reaction (1-day)   -0.45%
(+2 Trading Days) February, 3rd       -0.90%
(+3 Trading Days) February,4th Local Low     -1.50%
(+4 Trading Days) February, 5th Possible Uptrend Correction -0.73%
(+5 Trading Days) February, 6th       -0.56%
(+6 Trading Days) February, 7th Local High   0.06%
(+7 Trading Days) February, 9th New Downtrend   -0.04%
(+8 Trading Days) February, 10th       -0.53%
(+9 Trading Days) February, 11th       -0.51%
(+10 Trading Days) February, 12th Local Low     -1.14%
(+11 Trading Days) February, 13th New Uptrend   -1.12%
(+12 Trading Days) February, 14th       -0.51%
(+13 Trading Days) February, 16th       -0.18%
(+14 Trading Days) February, 17th Local High   0.56%
(+15 Trading Days) February, 18th Downtrend Correction   -0.19%
(+16 Trading Days) February, 19th Local Low     -0.57%
(+17 Trading Days) February, 20th New Uptrend   -0.30%
(+18 Trading Days) February, 21st       -0.28%
(+19 Trading Days) February, 23rd       -0.08%
(+20 Trading Days) February, 24th Local High   0.76%
(+21 Trading Days) February, 25th Downtrend Correction   0.29%
(+22 Trading Days) February, 26th       0.32%
(+23 Trading Days) February, 27th       -0.30%
(+24 Trading Days) February, 28th       -0.17%

According to TCI model, EURAUD was found recently in highly overbought levels. In the 24th of January 2014 TCI indicated +4.47% for EUAUD (1.5745 overbought indication), afterwards a strong downtrend correction took place and today (just after a few days) EURAUD is trading at about 1.5399. Again as in the case of EURUSD, we expect the downtrend of EURAUD to peak in the 4th, February 2014. Afterwards, a potential uptrend correction is possible to occur.

Here is the MT4 chart for EURAUD (1Day). Williams %R in the bottom and 2 simple moving averages within the chart (50-day and 200-Day).

MT4 Chart: EURAUD (1Day)

 

Free Forex Trading Signals: EURUSD  and EURAUD February 2014

 George Protonotarios, Financial Analyst, Trading Center.org (February, 1st 2014)

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