EURAUD Movement Influenced by Chinese Government News
Updated
EURAUD Movement Influenced by Chinese Government News
On the 4-hour chart, EURAUD completed a Head & Shoulders pattern, indicating that further price depreciation is likely.
The bullish momentum on the Australian dollar (AUD) was triggered by news that Chinese government advisers are recommending stronger fiscal stimulus to mitigate the impact of expected U.S. tariff hikes on the country's exports.
These measures could push EURAUD down to 1.6040 and 1.5900 in the coming weeks.
You may find more details in the chart!
Thank you and Good Luck!
❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
On the 4-hour chart, EURAUD completed a Head & Shoulders pattern, indicating that further price depreciation is likely.
The bullish momentum on the Australian dollar (AUD) was triggered by news that Chinese government advisers are recommending stronger fiscal stimulus to mitigate the impact of expected U.S. tariff hikes on the country's exports.
These measures could push EURAUD down to 1.6040 and 1.5900 in the coming weeks.
You may find more details in the chart!
Thank you and Good Luck!
❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
Note
Trade active
Note
Target 1 reached. EURO reacted aggressively bearish after the PMI data.
The price reaction was not normal overall because all EURO pairs moved between 150 and 200 pips. We have seen EURO not to move in this way from these data.
Also UK reported teh same data and also below expectations but the impact was very small overall.
A bit strange the way EURO reacted today.
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