Technical Analysis – EURAUD looks flat as momentum has vanished

Posted on January 20, 2020 at 3:37 pm GMT

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 [..]


Technical Analysis – EURAUD breaks below 200-day moving average

Posted on November 6, 2019 at 4:09 pm GMT

EURAUD penetrated below the 200-day simple moving average (SMA) after turning back down from 1.6431 and clearing below the noisy area of previous supports and the SMAs around 1.6200. The short-term oscillators reflect a freeze in momentum but lean towards the negative picture. The MACD is distancing itself below its red trigger line in the negative zone, while the RSI, slightly above the 30 level has turned marginally up. Further backing the negative outlook, are the downward slopes of the [..]


Technical Analysis – EURAUD bears retrace down; halt at the 61.8% Fibonacci level

Posted on September 3, 2019 at 3:48 pm GMT

EURAUD bulls pushed to a peak of 1.6678, slightly above the January 3 high of 1.6655, before sellers took control and sent the pair back down to 1.6230, which is the 61.8% Fibonacci retracement level of the up-wave from 1.5893 to 1.6784. The gradual upward slope in the 200-day simple moving average (SMA) backs the positive sentiment in the medium-term. However, the flattened 50-day SMA and the completed downward reversal of the 21-day SMA, suggests a short-term pullback could be [..]


Technical Analysis – EURAUD stumbles, but broader uptrend remains in play

Posted on August 13, 2019 at 3:05 pm GMT

EURAUD posted substantial losses in recent days, after touching a 10-year high of 1.6790 last week. Despite this pullback though, the medium-term uptrend is still in play, with a clear break back below 1.6230 and the 50-day simple moving average (SMA) needed to call that into question. Momentum oscillators suggest that the latest retreat may continue for now. The RSI is pointing lower and may test its 50 line soon, while the MACD seems to be coming closer to its [..]


Technical Analysis – EURAUD recoups June-July losses; hits new 7-month high

Posted on August 5, 2019 at 2:46 pm GMT

EURAUD reclaimed the losses of the drop from the 1.6447 high on June 18 to a low of 1.5893 on July 23. The pair rallied with determination, printing eight positive candles and one negative, rising past a five-and-a-half-month high of 1.6447 to a new high, currently at 1.6530. The Tenkan-sen’s gradient implies a strong push up. The MACD has recently moved into the positive region and is above its red trigger line, showing momentum starting to increase in the move [..]


Technical Analysis – EURAUD hands on with the 200-SMA, joined by the uptrend line

Posted on July 22, 2019 at 10:05 am GMT

EURAUD descended from a five-and-a-half-month high of 1.6447, over a one-month period, to break through a double obstacle of the 200-day simple moving average (SMA) and the uptrend line from Feb 2017. Price stalled just below the 1.5900 psychological level, where buyers have come on board to try and move back north. The price has crossed downwards through the Ichimoku cloud and all simple moving averages. The 50- and 100-day (SMAs), although above the 200-SMA, have started to turn down, [..]

Technical Analysis – EURAUD declines sharply, touching 38.2% Fibonacci

Posted on July 15, 2019 at 7:29 am GMT

EURAUD has been underperforming in the past three days, challenging the 38.2% Fibonacci retracement level of the upward wave from 1.5340 to 1.6445 near 1.6025. The pair bounced off the 20-day simple moving average last Wednesday and is ready to complete a bearish crossover within the short-term SMAs. Short-term momentum indicators are also pointing to a continuation of the bearish bias. However, the RSI is well below the 50-neutral level, heading towards the oversold zone, while the MACD is strengthening [..]


Technical Analysis – EURAUD runs towards 23.6% Fibo; bullish outlook

Posted on July 9, 2019 at 1:29 pm GMT

EURAUD finally reversed to the upside last Thursday after printing higher lows and higher highs in the preceding seven months to reach a five-month high of 1.6445 on June 18. Momentum indicators in the daily chart though are currently supporting that positive momentum is likely to strengthen in the short-term. Specifically, the RSI is picking up speed near 50 and the MACD is trying to surpass the zero line. Further advances could then target the immediate area around the 23.6% Fibonacci retracement level of the bullish [..]


Technical Analysis – EURAUD may pause downside rally near 38.2% Fibo

Posted on July 3, 2019 at 12:08 pm GMT

EURAUD found some footing around the 1.6420 resistance level last week and returned to bearish thereafter in the short-term. The price is currently testing the 38.2% Fibonacci retracement level of the upleg from 1.5150 to 1.6660 around 1.6080 and the upper surface of the Ichimoku cloud. The red Tenkan-sen is turning lower above the blue Kijun-sen line which is flat and the RSI and the MACD are flirting with negative levels, pointing to a bearish short-term trading. In the negative scenario, [..]


Technical Analysis – EURAUD tries to jump above ascending channel; strongly positive

Posted on June 14, 2019 at 9:59 am GMT

EURAUD is extending its gains over the last couple of weeks, recording a fresh more than five-month high around 1.6350. Thus, the short-term picture thus seems to be strongly positive, as the RSI is hovering in the overbought territory and the MACD is strengthening its momentum above trigger line. A break above above the ascending channel could increase speculation for more upside pressure towards the 1.6590 resistance level. If the bulls pierce the latter too, attention would turn to 1.6662. [..]

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