EUR/AUD 1H Chart: Channel Up

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
Pair is recovering after a 800 pip drop from 1.50 on the 28th of August to 1.42 on the 10th of September. Despite this sharp mood it seems that Fibonacci retracements cannot be utilized in the analyses. At least not at this point anymore. We can see that the pair's quality rating is just slightly above the average. However, due to it, pair's magnitude rating is rather high which speaks of an increased probability of a major moves in short period of times. Looking in to the past developments we can see that this expectation is very well justified. Although quite a few individual indicators give neutral outlook, we could rather confidentially expect appreciation of the pair. 

© Dukascopy Bank SA
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