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Weekly forecast Euro / Australian Dollar technical chart
Symbol EURAUD

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Trading suggestion:

  • By appearing primary signs of entering the market, new entry zone and short-term targets would be published.

DateAugust 24, 2019 - 18:29
Currentrange bound
Forecastbeginning of downtrend

Midterm forecast:

  • While the price is below the resistance 1.68650, beginning of downtrend is expected.
  • We make sure when the support at 1.62550 breaks.
  • If the resistance at 1.68650 is broken, the short-term forecast -beginning of downtrend- will be invalid.

Technical analysis:

  • While the RSI support #1 at 51 is not broken, the probability of price decrease would be too low.
  • A trough is formed in daily chart at 1.6305 on 08/16/2019, so more gains to resistance(s) 1.6600, 1.6660, 1.6760 and maximum to Major Resistance (1.6865) is expected.
  • Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
  • Relative strength index (RSI) is 60.

Supports and Resistances:

  1. 1.6355
  2. 1.6255
  3. 1.6095
  4. 1.5985
  5. 1.5885
  6. 1.5680
  7. 1.5345
  8. 1.5075
  9. 1.4910
  10. 1.4670
  11. 1.4040
  12. 1.3675
Click on the level to view price action history.

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