Technical Analysis – EURAUD flirts with SMA bullish cross

Posted on September 7, 2020 at 1:03 pm GMT

EURAUD is finding significant support at the 23.6% Fibonacci retracement level of the down leg from 1.6550 to 1.6126 at 1.6225, remaining above the bullish cross created within the 20- and 40-period simple moving averages (SMAs) in the 4-hour chart. The latest drop off the 1.6325 resistance drove the stochastics lower, though the indicator has already posted a bullish cross within the %K and %D lines below the 20 oversold mark. Moreover, the MACD oscillator is moving horizontally below the trigger line and near [..]


Technical Analysis – EURAUD ticks slightly up after 5-week low

Posted on August 31, 2020 at 1:26 pm GMT

EURAUD is ticking higher over the last sessions after rebounding off the five-week low of 1.6150. The stochastic oscillator created a bullish crossover within its %K and %D lines, while the MACD is trying to jump above its trigger line in the 4-hour chart. However, the 20- and 40-period simple moving averages (SMAs) are still moving down. Should prices decline, immediate support could be found around 1.6150, an area which has provided as strong support on July 22. Then a leg below that level, the pair [..]


Euro rally stalls: just a pause or is a major correction in sight? – Special Report

Posted on August 18, 2020 at 10:54 am GMT

After getting whipsawed and then clobbered at the height of the virus fallout in March, the euro is fast becoming one of the strongest performing currencies of 2020. Europe’s better handling of the coronavirus outbreak – at least when compared to America – and a big rescue package that is substantially made up of grants, have helped turn the euro’s fortunes around. But as the incredible rally pauses for breath, are investors having second thoughts about the Eurozone outlook amid [..]


Technical Analysis – EURAUD posts ‘death cross’, yet remains quiet

Posted on July 1, 2020 at 9:46 am GMT

EURAUD recently recorded a so-called death cross, meaning that the 50-day simple moving average (SMA) crossed below the 200-day one, which is a negative trend signal. That being said, the pair continues to trade very quietly between 1.6530 and 1.6020 since early June, suggesting that the very short-term outlook looks neutral, even if the broader one is negative. Short-term oscillators paint a mildly bearish picture, suggesting that the next move may be lower. The RSI is below 50 already and [..]


Technical Analysis – EURAUD selling interest in play; indicators in negative territory

Posted on June 17, 2020 at 12:48 pm GMT

EURAUD is continuing its aggressive selling interest from the eleven-year peak of 1.9800, achieved on March 19. The price is still moving below the short-term simple moving averages (SMAs) and the stochastic posted a bearish crossover within its %K and %D lines. However, the MACD is gaining some ground above its trigger line but remains below the zero level. Should the market extend losses, support could be met between the five-month low of 1.6017 and the 1.5890 obstacle. Then, if [..]


Technical Analysis – EURAUD appears flat below Ichimoku cloud

Posted on May 25, 2020 at 1:15 pm GMT

Technical Analysis – EURAUD appears flat below Ichimoku cloudEURAUD has been trading within a consolidation area over the last couple of weeks with upper boundary the 1.6895 resistance and lower boundary the 1.6610 support level. The pair is capped by the 20- and 40-period simple moving averages (SMAs) and the Ichimoku cloud in the 4-hour chart, suggesting that the bias seems to be neutral-to-bearish. However, the technical indicators are giving some signals for an upside retracement. The stochastic posted a [..]


Technical Analysis – EURAUD could see further weakness

Posted on May 6, 2020 at 12:59 pm GMT

EURAUD has been extending its losses over the last couple of days, following the pullback on the 1.7180 resistance level, which lies near the short-term descending trend line. Currently, the price is trading not far below the 20- and 40-period simple moving averages (SMAs) and holds within the Ichimoku cloud in the 4-hour chart. The MACD turned lower after the decrease below the trigger line. The bias also looks bearish as indicated by the stochastics: the %K and %D lines [..]


Technical Analysis – EURAUD extends downfall from 11-year peak

Posted on April 9, 2020 at 12:32 pm GMT

EURAUD is extending its negative rally below the 50.0% Fibonacci retracement level of the up leg from 1.5340 to 1.9800 at 1.8740 and beneath the 40-day simple moving average (SMA) currently at 1.7543. The selling interest started from the eleven-year peak of 1.9800, however, the long-term picture remains bullish. Turning to the near-term, the MACD oscillator is approaching the zero line as it fell below the trigger line, indicating more losses. Furthermore, the stochastic is holding in the oversold area, [..]


Technical Analysis – EURAUD’s selling interest may change the positive outlook

Posted on March 31, 2020 at 12:54 pm GMT

EURAUD has been in a downside correction mode following the sharp decline from the eleven-year peak of 1.9800 on March 19, dropping beneath the 20-period simple moving average (SMA) and the 38.2% Fibonacci retracement level of the upward wave from 1.5340 to 1.9800 at 1.8100. Technically, the Stochastic is heading towards the oversold zone as the %K and %D lines completed a bearish crossover. Moreover, the MACD oscillator, standing in the positive zone, is holding below the trigger line and [..]


Technical Analysis – EURAUD rollercoaster continues to fresh 11-year peak; next level 1.86

Posted on March 17, 2020 at 1:00 pm GMT

EURAUD is still extending its bullish rollercoaster to a fresh eleven-year peak of 1.8415, posting its fifth consecutive green day. The moving average lines are following the price’s action and are pointing north. Additionally, the RSI indicator is hovering in the overbought territory with weaker momentum than before, while the stochastic is edging higher above the 80 level. On the upside, the price could attempt to overcome the eleven-year high and test the 1.8600 round level, which has been standing [..]

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