EURAUD is consolidating around the 1.6103 level, which is the 76.4% Fibonacci retracement of the up leg from 1.5893 to 1.6784. With directional momentum nonexistent and the simple moving averages (SMAs) converging around 1.6170, the sideways market may drag on for a while longer, holding the pair between 1.6340 and 1.5964. The MACD, although in the negative zone, is above its red trigger line and approaching zero, while the RSI is hovering at its neutral mark. To the upside, immediately [..]
6 Asset Classes - 16 Trading Platforms - Over 1000 Instruments.