| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Buy | Buy | Sell |
| RSI(14) | Sell | Sell | Neutral |
| Stochastic(5;3;3) | Neutral | Neutral | Neutral |
| Alligator(13;8;5) | Buy | Buy | Sell |
| SAR(0.02;0.2) | Buy | Buy | Sell |
| Aggregate | ⇗ | ⇗ | ⇘ |
[ANNOUNCE]The common European currency has appreciated about 1.62% in value against the Australian Dollar. The currency pair breached a resistance cluster formed by the combination of the weekly and the monthly PPs at 1.6029 during the morning hours of Monday's trading session.[/ANNOUNCE]
Given that the exchange rate is trading near the upper band of a descending channel pattern at 1.6041, a breakout could be expected within this session.
If this breakout occurs, the EUR/AUD currency pair will continue its bullish sentiment during this week's trading sessions.
However, if the descending channel holds, a decline towards the 50-hour simple moving average could follow.