EUR/AUD 4H Chart: Likely to slide down - Trade Pattern Ideas - Dukascopy Bank
Mon, 17 Jun 2019 04:34:00 GMT
Source: Dukascopy Bank SA
Indicator
4H
1D
1W
MACD(12;26;9)
Buy
Buy
Buy
RSI(14)
Neutral
Neutral
Neutral
Stochastic(5;3;3)
Neutral
Neutral
Neutral
Alligator(13;8;5)
Buy
Buy
Buy
SAR(0.02;0.2)
Buy
Buy
Buy
Aggregate
⇗
⇗
⇗
The common European currency has appreciated about 1.81% in value against the Australian Dollar since the beginning of June. This bullish run has helped the currency pair reached a six-month high at 1.6362.
Everything being equal, it is likely that the EUR/AUD exchange rate could edge lower within this week's trading sessions. The possible target for bearish traders will be near the weekly S1 at 1.6199.
However, technical indicators flash buy signals on both the smaller and the larger time frames charts. Therefore, the currency exchange rate might continue its upside momentum during the following trading sessions.
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