EUR/AUD 4H Chart: Breaches support cluster at 1.6177 - Trade Pattern Ideas - Dukascopy Bank
Mon, 27 May 2019 05:30:04 GMT
Source: Dukascopy Bank SA
Indicator
4H
1D
1W
MACD(12;26;9)
Sell
Buy
Buy
RSI(14)
Neutral
Neutral
Neutral
Stochastic(5;3;3)
Neutral
Neutral
Sell
Alligator(13;8;5)
Neutral
Buy
Buy
SAR(0.02;0.2)
Sell
Buy
Sell
Aggregate
⇘
⇗
⇒
The EUR/AUD currency pair has been trading in an upward swing since the middle of April after it reversed north from the lower boundary of a medium-term ascending channel pattern at 1.5712.
The exchange rate breached a support cluster formed by the 50-hour simple moving average and the weekly pivot point at 1.6177 during Friday's trading session. From a theoretical point of view, it is likely that the currency pair continues moving south.
However, the currency exchange rate has to surpass a support cluster formed by the monthly R2, the weekly S1 and the 100-hour SMA at 1.6116.
If the cluster holds, a reversal north could occur in the nearest further.
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