EUR/AUD 4H Chart: Stranded between SMAs - Trade Pattern Ideas - Dukascopy Bank
Mon, 11 Feb 2019 06:24:12 GMT
Source: Dukascopy Bank SA
Indicator
4H
1D
1W
MACD (12; 26; 9)
Buy
Buy
Buy
RSI (14)
Neutral
Neutral
Neutral
Stochastic (5; 3)
Buy
Neutral
Neutral
Alligator (13; 8; 5)
Buy
Buy
Neutral
SAR (0.02; 0.2)
Sell
Buy
Buy
Aggregate
⇑
⇒
⇒
The single European currency has appreciated about 2.06% against the Australian Dollar since February 4. This rally was stopped by a resistance level formed by the weekly PP at 1.6047.
The exchange rate was stranded between SMAs during the morning hours of Monday's trading session. The 200-hour simple moving average was providing resistance for the pair at 1.5996, while the 50– and 100-hour SMAs was providing support.
Technical indicators flash bullish signals on the 4(H) time-frame. Therefore, it is likely that the currency exchange rate will surpass the 200-hour SMA during the following trading sessions.
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