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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 (1.6160 to 1.6355). 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 (1.6160)
    • Resistance on 03/28/2018
    • Resistance on 08/31/2018
    • Resistance on 09/03/2018
    • Resistance on 09/04/2018
    • Support on 09/13/2018
    • Resistance on 09/20/2018
    • Resistance on 09/21/2018
    • Support on 09/26/2018
    • Resistance on 09/28/2018
    • Resistance on 10/03/2018
    • Support on 10/10/2018
    • Support on 10/17/2018
    • Support on 10/22/2018
    • Resistance on 10/25/2018
    • Resistance on 10/26/2018
    • Resistance on 10/29/2018
    • Resistance on 01/10/2019
  • Ending of entry zone (1.6355)
    • Resistance on 08/24/2015
    • Resistance on 09/11/2018
    • Resistance on 10/05/2018
    • Resistance on 10/08/2018
    • Resistance on 10/10/2018
    • Peak on 10/11/2018
    • Resistance on 10/11/2018
    • Resistance on 01/03/2019

DateFebruary 16, 2019 - 20:10
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:

  • The RSI bounced from the downtrend #1 and it prevented price from more gains.
  • While the RSI support #2 at 39 is not broken, the probability of price decrease would be too low.
  • A peak is formed in daily chart at 1.6060 on 02/08/2019, so more losses to support(s) 1.5670, 1.5530, 1.5345 and more depths is expected.
  • Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
  • Relative strength index (RSI) is 44.

Take Profits:

  1. 1.5885
  2. 1.5670
  3. 1.5530
  4. 1.5345
  5. 1.5075
  6. 1.4910
  7. 1.4670
  8. 1.4040
  9. 1.3675
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