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Weekly forecast Euro / Australian Dollar technical chart
Symbol EURAUD

Download MT4 template file

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Sell Zone (1.6255 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 (1.6255)
    • Resistance on 09/07/2018
    • Resistance on 09/13/2018
    • Resistance on 09/14/2018
    • Resistance on 09/18/2018
    • Resistance on 09/24/2018
    • Resistance on 09/25/2018
    • Support on 10/05/2018
    • Resistance on 10/09/2018
    • Support on 10/11/2018
    • Resistance on 10/23/2018
    • Resistance on 12/27/2018
    • Resistance on 12/28/2018
    • Resistance on 12/31/2018
  • 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 01/02/2019
    • Resistance on 01/03/2019

DateMay 4, 2019 - 17:59
Currentrange bound
Forecastbeginning of downtrend

Midterm forecast:

  • While the price is below the resistance 1.63550, beginning of downtrend is expected.
  • We make sure when the support at 1.56800 breaks.
  • If the resistance at 1.63550 is broken, the short-term forecast -beginning of downtrend- will be invalid.

Technical analysis:

  • The RSI bounced from the resistance #1 at 61 and it prevented price from more gains.
  • While the RSI support #2 at 38 is not broken, the probability of price decrease would be too low.
  • A trough is formed in daily chart at 1.5805 on 04/29/2019, so more gains to resistance(s) 1.6045, 1.6120, 1.6190 and maximum to Major Resistance (1.6355) 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 59.

Take Profits:

  1. 1.6190
  2. 1.6120
  3. 1.6045
  4. 1.5885
  5. 1.5720
  6. 1.5530
  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.

Symbol Released Current Forecast
Euro / Australian Dollar (EURAUD) Sun, 14 Apr 2024
Euro / Australian Dollar (EURAUD) Sun, 7 Apr 2024
Euro / Australian Dollar (EURAUD) Sun, 31 Mar 2024
Euro / Australian Dollar (EURAUD) Sun, 24 Mar 2024
Euro / Australian Dollar (EURAUD) Sun, 17 Mar 2024