EUR/AUD 4H Chart: Two scenarios likely - Trade Pattern Ideas - Dukascopy Bank
Mon, 18 Feb 2019 07:06:01 GMT
Source: Dukascopy Bank SA
Indicator
4H
1D
1W
MACD(12;26;9)
Sell
Sell
Buy
RSI(14)
Neutral
Neutral
Neutral
Stochastic(5;3;3)
Buy
Buy
Neutral
Alligator(13;8;5)
Sell
Sell
Buy
SAR(0.02;0.2)
Sell
Sell
Buy
Aggregate
⇘
⇘
⇗
The common European currency has depreciated about 1.20% in values against the Australian Dollar since February 11. The currency pair tested the lower boundary of a dominant ascending channel at 1.5819 during Friday's trading session.
Given that the exchange rate is located near the bottom border of the dominant ascending channel, a breakout is likely to occur within this session.
If this breakout occurs, the next target for the currency exchange rate will be at a swing low of 1.5725.
On the other hand, if the support level formed by the dominant channel holds, a surge towards a resistance cluster at 1.5952 could be expected during this week's trading sessions.
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