EUR/AUD 4H Chart: Breaches support cluster - Trade Pattern Ideas - Dukascopy Bank
Mon, 26 Nov 2018 07:02:21 GMT
Source: Dukascopy Bank SA
Indicator
4H
1D
1W
MACD (12; 26; 9)
Buy
Sell
Buy
RSI (14)
Neutral
Neutral
Neutral
Stochastic (5; 3)
Buy
Neutral
Buy
Alligator (13; 8; 5)
Neutral
Sell
Neutral
SAR (0.02; 0.2)
Sell
Buy
Sell
Aggregate
⇒
⇒
⇒
The Eurozone single currency has been depreciating against the Australian Dollar since the exchange rate made a U-turn from a resistance level formed by the upper boundary of a descending channel at 1.6359.
The currency pair was trading near the lower boundary of a dominant ascending channel at 1.5667 during the Asian session on Monday.
From a technical point, a breakout through the bottom border of the dominant channel pattern is likely to occur within this session.
However, a support level formed by the weekly S1 at 1.5580 could provide support for the currency exchange rate during the following trading hours.
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