Indicator | 4H | 1D | 1W |
MACD (12; 26; 9) | Buy | Buy | Buy |
RSI (14) | Neutral | Neutral | Neutral |
Stochastic (5; 3) | Sell | Sell | Buy |
Alligator (13; 8; 5) | Buy | Buy | Buy |
SAR (0.02; 0.2) | Buy | Buy | Buy |
Aggregate | ⇗ | ⇗ | ⇑ |
The breakout from the large scale triangle on the EUR/AUD currency exchange rate has occurred. However, there was no large jump. Instead a previously marked pattern has moved outside the borders of the triangle before returning back to it.
The rate remains in the borders of an ascending channel pattern, which is set to guide the pair higher. In regards to the short term, the currency exchange rate is declining and will most likely reach a combined support of the 200-period SMA and the lower trend line of the channel before rebounding.
Meanwhile, it has to be noted that the upper trend line of the broken triangle has still provided strong resistance in the previous trading session.