# EURAUD Channel Support (Nov 6, 2017) Source: https://www.tradersway.com/resources/market-info/euraud-channel-support-nov-6-2017/ Language: en Updated: 2017-11-06 Description: Explore EURAUD Channel Support (Nov 6, 2017). EURAUD is trending. Trade Forex and CFDs on MT4 and MT5 with tight spreads, flexible leverage and fast funding. EURAUD is trending higher and is moving inside an ascending channel on its 4-hour time frame. Price has just bounced off support and looks ready for a test of resistance at 1.5400-1.5450. The 100 SMA is above the longer-term 200 SMA so the path of least resistance is to the upside. This means that the rally is more likely to continue than to reverse. In addition, the moving averages are close to the channel support, adding to its strength as a floor. Stochastic is on the move up to reflect the presence of bullish momentum. However, the oscillator is nearing overbought levels to signal exhaustion among buyers. In that case, another dip to support at 1.5150 is still possible. The main event risk for the Australian dollar is the RBA interest rate decision, during which the central bank could keep rates on hold at 1.50%. The RBA is one of the less hawkish central banks around, but any shift in their tone could still lead to big moves for the pair. As for the euro, the shared currency had a bearish reaction to the ECB announcement earlier on, but the fact remains that the central bank will begin tapering its asset purchases by next year. German factory orders data is due next and a 1.0% decline is eyed. ![EURAUD Channel Support (Nov 6, 2017)] There are no other major events lined up for both economies for the rest of the week, so there’s a chance that the current trend could carry on, barring any major changes in monetary policy bias. Overall risk sentiment could also drive price action, with risk-off moves favoring the euro over the Aussie. *By Kate Curtis from Trader’s Way* ## Structured data JSON-LD as served in the HTML version of this page. ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Article", "@id": "https://www.tradersway.com/resources/market-info/euraud-channel-support-nov-6-2017/#primary", "url": "https://www.tradersway.com/resources/market-info/euraud-channel-support-nov-6-2017/", "mainEntityOfPage": "https://www.tradersway.com/resources/market-info/euraud-channel-support-nov-6-2017/", "headline": "EURAUD Channel Support (Nov 6, 2017)", "inLanguage": "en", "datePublished": "2017-11-06T06:14:54+00:00", "dateModified": "2017-11-06T06:14:54+00:00", "articleSection": "Market Info", "description": "Explore EURAUD Channel Support (Nov 6, 2017). EURAUD is trending. Trade Forex and CFDs on MT4 and MT5 with tight spreads, flexible leverage and fast funding.", "image": { "@type": "ImageObject", "url": "https://www.tradersway.com/wp-content/themes/tradersway/images/og-default.png" }, "author": { "@type": "Organization", "@id": "https://www.tradersway.com/#organization" }, "publisher": { "@id": "https://www.tradersway.com/#organization" } }, { "@type": [ "Organization", "FinancialService" ], "@id": "https://www.tradersway.com/#organization", "name": "Trader's Way", "alternateName": "TradersWay", "legalName": "TW Corp LLC", "description": "Trader's Way is the trading brand of TW Corp LLC, a company registered in Anguilla under number A000001731. It provides online leveraged trading in forex, metals, energies, stock indices and cryptocurrencies through MetaTrader 4, MetaTrader 5 and cTrader, with Market execution, a 40% stop out level and a minimum initial deposit of 10 USD. The company holds no financial services licence and does not direct its services to residents of the United States or the United Kingdom.", "url": "https://www.tradersway.com", "foundingDate": "2011", "logo": { "@type": "ImageObject", "url": "https://www.tradersway.com/wp-content/themes/tradersway/images/logo-square-512.png" }, "address": { "@type": "PostalAddress", "streetAddress": "No. 9 Cassius Webster Building, Grace Complex", "postOfficeBoxNumber": "1330", "addressLocality": "The Valley", "postalCode": "AI-2640", "addressCountry": "AI" }, "contactPoint": { "@type": "ContactPoint", "contactType": "customer support", "email": "support@tradersway.com" }, "areaServed": "Worldwide, excluding the United States and the United Kingdom", "knowsAbout": [ "Foreign exchange trading", "Contracts for difference", "Leveraged trading", "Precious metals trading", "Energy commodities trading", "Stock index trading", "Cryptocurrency trading", "MetaTrader 4", "MetaTrader 5", "cTrader" ], "sameAs": [ "https://www.trustpilot.com/review/www.tradersway.com", "https://www.forexpeacearmy.com/forex-reviews/8129/tradersway-forex-brokers", "https://www.youtube.com/channel/UChRC072YJGlNNNYhg_0hZeA", "https://www.facebook.com/tradersway.forex.broker", "https://twitter.com/TradersWay", "https://www.instagram.com/traderswayforex/", "https://t.me/tw_eng" ], "identifier": { "@type": "PropertyValue", "propertyID": "Anguilla company registration number", "value": "A000001731" }, "location": { "@type": "Place", "address": { "@type": "PostalAddress", "streetAddress": "Radnicka 147", "addressLocality": "Valjevo", "postalCode": "14000", "addressCountry": "RS" } } }, { "@type": "WebSite", "@id": "https://www.tradersway.com/#website", "url": "https://www.tradersway.com", "name": "Trader's Way", "publisher": { "@id": "https://www.tradersway.com/#organization" } }, { "@type": "BreadcrumbList", "@id": "https://www.tradersway.com/resources/market-info/euraud-channel-support-nov-6-2017/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://www.tradersway.com/" }, { "@type": "ListItem", "position": 2, "name": "Resources", "item": "https://www.tradersway.com/resources/" }, { "@type": "ListItem", "position": 3, "name": "Market Info", "item": "https://www.tradersway.com/resources/market-info/" }, { "@type": "ListItem", "position": 4, "name": "EURAUD Channel Support (Nov 6, 2017)", "item": "https://www.tradersway.com/resources/market-info/euraud-channel-support-nov-6-2017/" } ] } ] } ``` ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Person", "@id": "https://www.tradersway.com/#wayne-mcdonell", "name": "Wayne McDonell", "jobTitle": "Chief FX Strategist", "description": "Chief FX Strategist at Trader's Way, trading forex publicly since 2004. His analysis has appeared in the Wall Street Journal, Bloomberg Television, Fox Business, Futures Magazine and FOREX Journal Magazine. Author of \"Strategic and Tactical Forex Trading\".", "worksFor": { "@id": "https://www.tradersway.com/#organization" }, "knowsAbout": [ "Foreign exchange market", "Technical analysis", "Fundamental analysis", "Forex trading strategy" ], "sameAs": [ "https://www.youtube.com/c/tradersway" ] }, { "@id": "https://www.tradersway.com/#organization", "employee": { "@id": "https://www.tradersway.com/#wayne-mcdonell" } } ] } ```