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EUR/AUD Break Out Targets 1,300 Point Up Move

FX technical analysis video looking at the potential for a 1,300 point move in the EUR/AUD spread betting market, plus strategic price targets and support/resistance for EUR/USD and EUR/GBP.

This week Michael Hewson of CMC Markets discusses:

  • The ECB reducing its balance sheet by taking back €140bn of LTRO loan money
  • Expectations for the ECB interest rate meeting on Thursday (7 Feb 2013)
  • French President Hollande holding contrasting views with ECB President Draghi
  • EUR/USD chart – bullish medium-term objective near $1.3840/50
  • EUR/GBP chart – uptrend remains intact while above 200WMA around £0.8520/30 level
  • EUR/AUD chart – long-term breakout of inverse head and shoulders pattern targets 200WMA near $1.4295 – a 1,300 point upwards move


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Video content by Michael Hewson of CMC Markets

The contents on including any articles or videos are for information purposes only and are not intended as a recommendation to trade. Nothing on this website should be construed as investment advice or form the basis of an of investment decision.

Neither nor any contributing company/author accept any responsibility for any use that may be made of the above or for the correctness or accuracy of the information provided.

Content provided by CMC Markets. CMC Markets UK plc and CMC Spreadbet plc are authorised and regulated by the Financial Services Authority in the UK, registered offices, 133 Houndsditch, London, EC3A 7BX.

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