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If a M15 close above 1.3934 buy only and do not sell. If price closes back below it again do nothing.
If a M15 close below 1.3822 sell only and do not buy. If price closes back above it again do nothing
The range 1.3934 and 1.3822 is neutral area, any trade done in between is personal decision and not part of this analysis
As we can see there is Shooting star formation. What is more RSI shows that market is overbought and the price is at higher Bollinger Band. This is strong Bearish signal.
I wait for confirmation of this bearish signal.
the pair is trading under the level of 63.00 , any way if the pair succeeded in breaking 63.00 , it will continue in it's up movements heading to 63.40 and then 63.70
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
we can notice from the chart that the pair has closed under 1.3800 , that's mean the down trend is expected and the pair might head to 1.3700 then 1.3650 , however the pair made a hourly correction
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.
If a M15 close above 1.3836 buy only and do not sell. If price closes back below it again do nothing.
If a M15 close below 1.3741 sell only and do not buy. If price closes back above it again do nothing
The range 1.3836 and 1.3741 is neutral area, any trade done in between is personal decision and not part of this analysis
There’s been a significant bullish breakout on this market. The Aussie has been clearly weak against the Euro. I’d like to wait to buy a pullback upon the turning of the trend to clear bullish, or I’d find a way to sell high, trading pro-cyclically.
the pair and as we can see from the chart has closed it's daily candle under the level of 1.3800 , so , that's mean the down trend is still standing and the pair is heading to 1.3750 then 1.3700
The EURAUD rally from 12926 is in 5 waves and appears to have culminated with Monday’s reversal. The goal over the next several days and weeks should be to identify a secondary low. The 50% retracement at 13592 (reinforced by the 100% extension of the decline from 14258) and former 4th wave extreme at 13668 is a zone that may produce the bottom.