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Primary trend: Bearish
The strength in the AUD has been asserted again this week. There has been a sharp sell-off on this instrument. It’s better for speculators to find price levels by which this bearish move could be taken advantage of, rather than asking about the whys and wherefores of the market move.
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the pair and as we can see from the chart has closed it's daily candle under the level of 1.3500 , so , that's mean the down trend is still standing and the pair is heading to 1.3470 then 1.3440
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Current rise should end around 1.3537. Objectives of this downmove are 1.3349 or 1.3231. A rise above 1.3607 is again bullish.
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the pair has succeeded in breaking 1.3500 and reached 1.3540 , so that's mean the up trend is still standing and the pair might head to 1.3570 and the 1.3600 . good luck .
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he strength in the AUD has been asserted again this week. There has been a sharp sell-off on this instrument. It’s better for speculators to find price levels by which this bearish move could be taken advantage of, rather than asking about the whys and wherefores of the market move.
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It is unclear whether or not the corrective advance is complete. Additional strength would face resistance from 13480 (former support and 20 day average), 13580 (50% retracement) and 13660 (61.8% retracement). Uncertainty is high at this juncture and it is best to wait for a clearer signal" said Jamie Saettele, Senior Currency Strategist at DailyFX.
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EUR/AUD has just completed very Clear Down Channel chart pattern identified by Autochartist on the daily charts. The Overall Quality of this chart pattern is measured at the 7 bar level reflecting the following values of the individual contributing Quality indicators
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The pair is expected to continue rising toward the Forecast Area set between price levels 1.3384 and 1.3603.
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The price broke the lower support trend line with the Breakout whose strength is measured at the highest 10 bar level. The pair is currently trading near the upper boundary of the Forecast zone for this breakout (1.3420) and is expected to continue falling toward the lower boundary at 1.3361.
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The strength of the support at 1.3000, coupled with the clear-cut bullish divergence on the daily Stochastic and Momentum studies, helped accelerate the upward reversal which led to the recent Breakout through the upper resistance trendline of this chart pattern. The pair is expected to continue rising toward the Forecast Area set between price levels 1.3384 and 1.3603.