Trading suggestion:
. There is still a possibility of temporary retracement to suggested resistance line (1.6950). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. EURAUD is in a range bound and the beginning of downtrend is expected.
.The price is above the 21-Day WEMA which acts as a...
Our pivot point is at 1.6862.
Our preference:
as long as 1.6862 is support look for 1.7039.
Alternative scenario:
below 1.6862, expect 1.6813 and 1.6783.
Comment:
the RSI is above its neutrality area at 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the pair is trading above both its 20 and 50 MAs (respectively at 1.6922...
Our pivot point stands at 1.6564.
Our preference:
the upside prevails as long as 1.6564 is support.
Alternative scenario:
the downside breakout of 1.6564 would call for 1.6515 and 1.6486.
Comment:
the RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the pair is trading above both its 20 and 50 MAs...
Our pivot point is at 1.6446.
Our preference:
the upside prevails as long as 1.6446 is support.
Alternative scenario:
the downside breakout of 1.6446 would call for 1.6398 and 1.6369.
Comment:
the RSI is above 70. It could mean either that the pair is in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case)....
Our pivot point is at 1.6386.
Our preference:
the upside prevails as long as 1.6386 supports.
Alternative scenario:
the downside breakout of 1.6386 would call for 1.6338 and 1.6310.
Comment:
the RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the pair is trading above both its 20 and 50 MAs (respectively at...
