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Australian Dollar/Euro

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AUDEUR trade ideas

EURAUD💡The analysis shown in the chart displays a technical analysis of the currency pair EURAUD on the 4-hour frame. The drawing shows the price movement within a descending price channel. Identifying support and resistance areas The MACD indicator indicates the beginning of an upward momentum. If it continues to present longer green bars, the price may reach the R.1 or R.2 resistance levels. If the green bars start decreasing, this could be a signal of a weak uptrend and a possible reversal. ⛔️It is not investment advice, for educational purposes only.
by Adhamcurrency
EURAUD Wave Analysis 26 November 2024 - EURAUD reversed from support zone - Likely to rise to resistance level 1.6350 EURAUD currency pair previously reversed from support area set between the pivotal support level 1.6020 (which has been reversing the pair from the end of June) and the lower daily Bollinger Band. The upward reversal from this support zone created the daily Japanese candlesticks reversal pattern Morning Star Doji. Given the oversold daily Stochastic, EURAUD currency pair can be expected to rise further to the next resistance level 1.6350 (top of the previous wave (2)).
Long
by FxProGlobal
EURAUD Will Explode! BUY! My dear subscribers, This is my opinion on the EURAUD next move: The instrument tests an important psychological level 1.6020 Bias - Bullish Technical Indicators: Supper Trend gives a precise Bullish signal, while Pivot Point HL predicts price changes and potential reversals in the market. Target - 1.6137 My Stop Loss - 1.5957 About Used Indicators: On the subsequent day, trading above the pivot point is thought to indicate ongoing bullish sentiment, while trading below the pivot point indicates bearish sentiment. ——————————— WISH YOU ALL LUCK
Long
by AnabelSignals
2
EUR_AUD (135 Pips)Fundamental Analysis The EUR/AUD pair has been under pressure recently, hitting an 18-month low last week. Several factors are influencing this movement: 1. Eurozone Economic Weakness: The Eurozone continues to face economic challenges, with industrial production declining by 2.0% in September compared to August. This contraction is driven by a decrease in capital goods and energy output, which outweighs gains in consumer goods . Additionally, the Eurozone Sentix Investor Confidence remains negative, reflecting ongoing economic uncertainty . 2. Australian Economic Resilience: In contrast, Australia's economy shows signs of resilience. Although the unemployment rate remained steady at 4.1% in October, employment growth was lower than expected . However, the Australian dollar is benefiting from strong sentiment across FX markets and a relatively stable economic outlook. 3. Monetary Policy Divergence: The European Central Bank's cautious approach contrasts with the Reserve Bank of Australia's stance. While the ECB has cut rates earlier than the Federal Reserve, their future moves remain uncertain . Meanwhile, the RBA's potential rate cuts are not expected until early 2025 . Technical Analysis The EUR/AUD pair is showing a bearish trend, having broken below several key support levels: - Support Levels: The pair has fallen below 1.6100, with further support seen at 1.6003 (October 2 swing low) and potentially down to 1.5848 (June 15, 2023 low) . - Resistance Levels: Resistance is likely around 1.6125 and 1.6200, which were previous support levels now turned resistance . The technical outlook suggests a continuation of the bearish trend: - Head-and-Shoulders Pattern: A head-and-shoulders pattern has emerged, indicating potential for further downside if the neckline around 1.6200 remains unbroken . - Moving Averages and Indicators: The pair is trading below key moving averages, including the 200-period moving average on the H4 chart, which indicates a bearish bias . The MACD and Parabolic SAR also signal selling opportunities . Outlook for the Week Given the current fundamental and technical landscape, EUR/AUD is likely to remain under pressure in the coming week. The pair could trade within a range of: - Lower Bound: 1.5848 (next significant support level) - Upper Bound: 1.6200 (key resistance level) Traders should monitor upcoming economic data from both regions: - Eurozone: Any updates on industrial production or investor confidence could impact the euro. - Australia: Employment data and any changes in RBA policy expectations will be crucial. In summary, unless there is a significant shift in economic data or central bank policies, EUR/AUD may continue its downward trajectory towards lower support levels. Citations: fxpro.news www.oanda.com www.ifcmfx.com www.actionforex.com paxforex.org www.teletrade.org paxforex.org Trade (Highest Probability): - Entry: Sell at 1.6160 - Stop Loss: 1.6190 (30 pips) - Take Profit: 1.6025 (135 pips) - Rationale: This trade aligns with both technical and fundamental factors. The level represents a key resistance zone, and the bearish trend supports a rejection at this level. The head-and-shoulders pattern and below-MA trading support this direction.
Short
by NYHTSTAR