EUR/AUD 4H Chart: Pressure by SMAs - Trade Pattern Ideas - Dukascopy Bank
Mon, 15 Apr 2019 05:34:59 GMT
Source: Dukascopy Bank SA
Indicator
4H
1D
1W
MACD(12;26;9)
Sell
Sell
Sell
RSI(14)
Neutral
Neutral
Neutral
Stochastic(5;3;3)
Buy
Neutral
Buy
Alligator(13;8;5)
Sell
Sell
Sell
SAR(0.02;0.2)
Sell
Buy
Sell
Aggregate
⇘
⇒
⇘
A four-week descending channel pattern has guided the common European currency towards January 31 low level at 1.5717 against the Australian Dollar. The currency pair declined by 0.64% in value during last week's trading sessions.
As for the near future, it is likely that the EUR/AUD currency exchange rate will continue to maintain the four weeks descending channel pattern. Bearish traders could push the pair towards the bottom border of a dominant ascending channel at 1.5653.
However, a support cluster formed by the combination of the weekly and the monthly PPs at 1.5698 could provide support for the rate in the shorter term.
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