Forex 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 to 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

FOREX TRADING SIGNALS -FEBRUARY 2014

(I) EURUSD ANALYSIS

Currently: 1.3668 | Starting with statistics and afterward 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↓}

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 at 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

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. Afterward, 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 fo,r 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↓}

 

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

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)