EUR/AUD 4H Chart: Possible breakout - Trade Pattern Ideas - Dukascopy Bank
Tue, 08 Jan 2019 07:17:27 GMT
Source: Dukascopy Bank SA
Indicator
4H
1D
1W
MACD (12; 26; 9)
Sell
Buy
Buy
RSI (14)
Neutral
Neutral
Neutral
Stochastic (5; 3)
Neutral
Buy
Sell
Alligator (13; 8; 5)
Sell
Buy
Buy
SAR (0.02; 0.2)
Sell
Sell
Buy
Aggregate
⇘
⇗
⇗
Bullish momentum has dominated the single European currency against the Australian Dollar since the beginning of December. The currency pair has gained over 6.70% since its bounced off from the bottom border of the channel pattern on December 3.
Currently, the EUR/AUD currency pair is trading near the lower boundary of the junior ascending channel pattern at 1.6064 and could be set for a breakout.
If the breakout occurs, the currency exchange rate will aim for the 200-hour SMA at 1.5858.
On the other hand, if the support level formed by the weekly PP at 1.5984 holds, the pair will maintain the channel pattern this week.
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