Day trading strategies on currency pair EURAUD 24-08-2016 by AzaForex forex broker, all about trading on the foreign exchange market

Forex trading everything you need to know about the market.
Euro exchange rate woke up after a long hibernation. On the background of total calm before the economic news at Friday, only Euro on the charts takes the move. The Australian dollar, after breaking the trend from downward to upward, did not make much to change something and left his course to the will of fate. Investors and traders benefited from this inactivity and decided that Euro, as an asset, today is more attractive and decided to buy, so this move pushed up quotes on the charts. Now the price is in the area of resistance, but if the bears will be also passive, bulls easily pass this milestone and will move above the strong 1.5000 level. Yes, such strong math levels have a strong psychological effect on traders around the world. Seems like it's just the simple price, but in the minds of traders such levels create barriers and prejudices. Some traders put their entry orders, some of them, who are taking global solutions for asset management at such levels decide to take profit, and vice versa someone who is sitting in a minus position, thinking if the price reaches this level, then just close this cursed position. World is full of different opinions and exchange solutions, and, noted by the Forex brokers, are so multi-faceted and different, as people in the world. But, in general, these levels attract the attention of most of the market players. Therefore, we, as a profitable trader, will do everything wise and fix profit at this level. Let others pulls a blanket of currency operations, we’ll sit aside and will review the situation, depending on who will be stronger and take the flag of leadership.

The price is above a simple moving average 200 MA and 20 MA indicating bullish trend.
The MACD trend indicator is above zero level now, indicating bullish movement.

If the resistance level is broken you can use the following recommendation:
•    Chart timeframe: H4
•    The trade recommendation: Buy
•    The level of entry into long position: 1.4890
•    The level of profit and close the position: 1.5000 (110 pips)

Metal GOLD 
Possible bearish movement in the breakdown of the support level 1331

Forex currency pair GBPUSD
Possible bullish movement in the breakout of the resistance level 1.3220

Forex currency pair USDCHF
Possible bullish movement in the breakout of the resistance level 0.9650

Forex currency pair USDJPY
Possible bearish movement in the breakdown of the support level 99.50