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Weekly forecast Euro / Australian Dollar technical chart
Symbol EURAUD

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Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Sell Zone (1.5115 to 1.5240). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

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

  • Beginning of entry zone (1.5115)
    • Support on 10/12/2017
    • Resistance on 10/06/2017
    • Resistance on 09/22/2017
    • Resistance on 08/29/2017
    • Support on 06/01/2017
    • Resistance on 05/26/2017
    • Resistance on 09/15/2016
    • Resistance on 06/24/2016
    • Support on 06/15/2016
    • Resistance on 05/02/2016
    • Resistance on 04/06/2016
    • Resistance on 04/05/2016
    • Support on 03/01/2016
    • Resistance on 01/04/2016
  • Ending of entry zone (1.5240)
    • Resistance on 10/12/2017
    • Peak on 10/11/2017
    • Resistance on 10/11/2017
    • Peak on 03/24/2014

DateOctober 22, 2017 - 12:32
Currentrange bound
Forecastbeginning of downtrend

Midterm forecast:

  • There is no trend in the market and the price is in a range bound, but we forecast beginning of downtrend.

Technical analysis:

  • A peak is formed in daily chart at 1.5240 on 10/12/2017, so more losses to support(s) 1.4860, 1.4625, 1.4435 and more depths 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 53.

Take Profits:

  1. 1.4860
  2. 1.4625
  3. 1.4245
  4. 1.4040
  5. 1.3675
  6. 1.3160
  7. 1.2820
  8. 1.2225
  9. 1.1600
Click on the level to view price action history.

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