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EURAUD shows some hawkinshness but still struck in bearish range

EURO had some promising run for past 2 days over ECB's turnaround in not easing too much on the policy. EURO had great run against most of it's pairs. But the EURO still has lot of hurdles to move to gain the real bullish channel. Now, we will see the Technical analysis of this pair as follows,
Monthly chart:
- This pair had strong bearing run for last month starting from the doji which shows the bearish run was so strong.
- Current month had sudden counter spike which is good enough to stop th…
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taimasik avatar
taimasik 28 Dic

thanks for the article!

ijayakumar avatar

thanks for your support!

AnastasiyaBauer avatar

good text..

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EURAUD may consolidate until this year

Fundamentally EURO is falling and Aussie started appreciating over the employment data. Yet, I feel that EURO is poorly rated and hence I expect it to consolidate till this year around 1.46 region and resume it's bullish run from end of the year. Please find my chart analysis,
Monthly chart:

- This chart shows more dojis, when this pair is extending to touch the upside trend line which shows the upside weakness
- Trend lines also slowly forming a reduced price range which suggest a less price …
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ijayakumar avatar

As forecasted, Euro is weakening further and Aussie is appreciating real fast. If current situation persists, then this pair go even below than the expected value. A pullback is expected in near time to make this forecast live.

ijayakumar avatar

Though Aussie produced two consecutive blockbuster Employment data, it failed to hold the momentum ahead of next week FOMC meeting. Hope Euro will be bearish again and Aussie will gain from it!

ijayakumar avatar

Surprise hawkishness from Euro has widen the gap. Although Australia was looking stronger till last week, because of less data it was bearish all the time and it may well continue!

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EURAUD is expected to form a range trading

As Aussie dollar starts appreciating against it's pair, it is expected to form a pattern with Euro before going further bearish. Please find the chart analysis,
Weekly chart:

- As suggested in the weekly chart, this temporary bearish move is expected to be a retracement for sometime
- Recent candle pattern also suggests a short term bearish move
Daily Chart:

- As drawn in daily chart, this pair is expected to form a range trading for upcoming days
- Previous support may act as a new resistance…
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ijayakumar avatar

So far, the price ranging is within the limit!

ijayakumar avatar

Euro's continuous dovishness kept this pair away from 1.54 range. But in coming weeks, Aussie dollar may go down as Chinese data started deteriorating again. Hence I believe that this pair is still on track to reach the target!

ijayakumar avatar

Euro's continuous dovishness and Aussie's appreciation making this pair to trend down and it may even continue the same for next week as well. It doesn't seem like coming above 1.5 in near time!

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