October 19, 2015 Daily Analysis

10/19 Analysis: +50 Pips on EUR/AUD


+50 Pips on EUR/AUD

During the session, we see the EUR up top (pink line) is strong and starting to turn up indicating current momentum in the market.

On the downside, the AUD (orange line) has been weak for over an hour and is now turning steeply down which again tells us there is a lot of momentum happening right now on that currency.


I actually entered this trade myself and from my entry point, the pair went up over 50 pips.

You can watch the entire video analysis below:

[00:00 – 03:24]

[slide]              [1st view: indicator with orange diving, blue / pink / purple / yellow up]

                        Hello, I’m James Edward from CompleteCurrencyTrader.com. Welcome to today’s Currency Strength Analysis training video, the first day of a new week. And I have an example for you, today, of a break-out trade at the New York Open. So, this is what my free indicator on my Web site looked like immediately at the New York Open today and, if you do your initial analysis, remember, you are always looking for weak currencies which are continuing to get weaker and match[ing] those against strong currencies continuing to strengthen.

On the weak side, it should be fairly obvious [points orange] that there has been a down trend on the (orange) Australian Dollar (AUD) in the hour leading to the New York Open. Right now, at the Open it is not continuing to move down. Remember, we’re always looking for a steepening of those lines [points far rt] over here. When those lines are moving steeply, that is indicating momentum in the Market. Right now, at the split second of the New York Open, that isn’t happening. And, likewise, for strength, although you have some strong currencies, primarily with the (pink) [points] Euro (EUR) over here for the strong side. It’s not continuing to move up to strength at this precise moment, so you wouldn’t actually take a trade immediately at the Open. However, you wouldn’t have had to wait very long today.

If I just fast forward

[slide]              [2nd view: orange deep down, green / lilac down mirror yel / blue up, pink up]

(continues) … just 20 seconds into the Market, you can now see a fantastic pattern between the (orange) Australian Dollar (AUD) and the (pink) Euro (EUR). The (orange) Australian Dollar (AUD) has been in a down trend over the last hour, significantly weaker than all the other currencies and, now, it has starting to move steeply down on the right-hand side of the indicator. And, likewise, the (pink) Euro (EUR) has been strong, and, gradually, trending up over the last 60 minutes, to, now, moving steeply up to strength.

And, like I said, this is just 20 seconds after the Market has opened. And, actually,–

[slide]              [3rd view: pink / blue / yel up, orange / green / lilac down]

(continues) … if I fast forward it just a couple of minutes extra, this is just coming up to the end of two minutes into the Market, you can see that the (orange) Australian Dollar (AUD) has continued downward and the (pink) Euro (EUR) has continued upward. So, if I go over to that–

[slide]              [B&W vertical line EURAUD.MS]

(continues) … price chart now, this is the Euro:AUD on the five-minute price bars and this is the five-minute price bar [points longest bar just left center] at the Open. So, this point, down here [pts bttm same bar] you can see that, very quickly, there was an increase in momentum and that price, very obviously, started pushing up rapidly, in the direction of [points rise just left of bar] this preexisting trend.

I actually entered this trade, myself, today. My entry was [cross bar abt mid-bar] around about here where my cursor is now and, from my point of entry, [diag line to highest pt] you can see that the price, in total, has gone up 52, almost 53 pips.

Had you entered around about the same area as me you would’ve, very quickly,  got[ten] your 20-pip profits from [diag line up to 1st high pt, 7 bars rt] around about here. So, you’d have been in the trade for about a half hour before your take profit was hit at 20 pips.

So, a nice, easy trade to get into; a very obvious break out at the start of the New York Open.

[slide]              [previous 3rd view: pink / blue / yel up, orange / green / lilac down]

(continues) … Easy pattern to identify on the indicator.

[slide]              [B&W vertical line EURAUD.MS]

(continues) … Excellent confirmation here on the price charts and, again, another very quick trade that would’ve carried on [points top-most bar] in the direction of that trend and hit your [circles top of that profit bar] target around about here.



You can see that our Currency Strength Indicator is an effective tool for picking out the highest probability, lowest risk trade set ups while avoiding market conditions that aren’t favorable. If you keep using this tool every day along with our daily Forex analysis, you will increase your win rate and be on your way to becoming a profitable trader long term.

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James Edward
James Edward has been a successful Forex hedge fund manager & educator for over a decade. He founded Complete Currency Trader, a London based firm that has consistently trained individuals to become professional and profitable traders long term using the individual currency strength analysis methodology. CCT is an elite Forex educational firm and has a reputation second to none with over 90 positive reviews and an overall 4.538 out of 5 rating on the third party verification site Forex Peace Army. James’s affable personality, expert knowledge, notoriety for getting results, and steadfast dedication to his clients, has secured his position as one of the most trustworthy, liked, and in demand authorities in the industry.