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Weekly forecast Euro / Australian Dollar technical chart
Symbol EURAUD

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Buy Zone (1.43770 to 1.42790). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

We would set buy orders based on Daily-Trading-Opportunities and expect to reach short-term targets.

  • Beginning of entry zone (1.43770)
  • Ending of entry zone (1.42790)

DateMarch 23, 2023 - 12:05
Currentrange bound
Forecastresumption of uptrend

Midterm forecast:

  • While the price is above the support 1.57050, resumption of uptrend is expected.
  • We make sure when the resistance at 1.62330 breaks.
  • If the support at 1.57050 is broken, the short-term forecast -resumption of uptrend- will be invalid.

Technical analysis:

  • The RSI downtrend #1 is broken, so the probability of resumption of uptrend is increased.
  • A peak is formed in daily chart at 1.62055 on 03/13/2023, so more losses to support(s) 1.59299 and minimum to Major Support (1.57050) 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 66.

Take Profits:

  1. 1.46500
  2. 1.48594
  3. 1.50570
  4. 1.52023
  5. 1.53564
  6. 1.55790
  7. 1.59299
  8. 1.62330
Click on the level to view price action history.

Symbol Released Current Forecast
Euro / Australian Dollar (EURAUD) Sun, 24 Mar 2024
Euro / Australian Dollar (EURAUD) Sun, 17 Mar 2024
Euro / Australian Dollar (EURAUD) Sun, 10 Mar 2024
Euro / Australian Dollar (EURAUD) Sun, 3 Mar 2024
Euro / Australian Dollar (EURAUD) Wed, 28 Feb 2024