EUR/AUD 4H Chart: Decline likely to continue - Trade Pattern Ideas - Dukascopy Bank
Mon, 11 Nov 2019 06:02:17 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)
Neutral
Neutral
Neutral
Alligator(13;8;5)
Sell
Sell
Neutral
SAR(0.02;0.2)
Buy
Sell
Sell
Aggregate
⇒
⇘
⇒
The common European currency has been depreciating in a junior descending channel pattern against the Australian Dollar since October 24. The currency pair has depreciated about 2.51% in value during this period.
All things being equal, the EUR/AUD exchange rate will most likely continue to trade in the junior descending channel pattern. The potential target for bearish traders would be at the 1.5873 area.
However, given that the currency exchange rate is currently trading near the upper boundary of the channel pattern, a breakout could occur during the following trading sessions.
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information, please call us or make callback request.
For further information regarding potential cooperation, please call us or make callback request.
To learn more about Dukascopy Bank Binary Options
/ Forex trading platform, SWFX and other trading related information, please call us or make callback request.
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information, please call us or make callback request.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information, please call us or make callback request.
To learn more about Business Introducer and other trading related information, please call us or make callback request.
For further information regarding potential cooperation, please call us or make callback request.