Gold and EUR/AUD Down – Euro Trading Mid-Range On Greece Uncertainty
Analysis from: Forex FX 4X
Gold Analysis: (XAUUSD) is currently making new lows for the week and price is located at the ascending trend line shown on the chart below. US data has been stronger recently and QE is no longer a given. This has seen a high momentum drop in the price of Gold as the bulls were quick to liquidate positions in the precious metal.
XAUUSD
EURAUD makes new record low. The Reserve Bank of Australia (RBA) has held the key rate after the two previous consecutive cuts. This caught the market off guard and went against analyst expectations. The Greece debt negotiations should be monitored closely as a quick change in sentiment could see high volatility. AUD has been in bullish mode since the break of key 1.0390 resistance and the Australian economy is well set to gain if the gloabal economy continues to improve. EURUSD is trading in the middle of the recent range (approx 2 cents) with a break of either side needed to clarify the near term directional bias.
EURAUD
Any information or views found in this post are provided for educational reasons and do not in any way represent investment advice. The article author doesn’t guarantee the accuracy or completeness of this or any other information provided. Forex-FX-4X or the post authors will not accept liability for any losses arising directly, indirectly or because of reliance on any of the trading setups or associated analysis in any way.
