Sat, May 26, 2018 @ 17:16 GMT

EUR/AUD Weekly Outlook

EUR/AUD’s decline from 1.6189 continued last week extended to as low as 1.5404 last week. The strong break of 1.5621 support, indicates medium term reversal. Initial bias remains on the downside for 1.5153 key support level next. On the upside, break of 1.5617 resistance is needed to indicate short term bottoming. Otherwise, outlook will remain bearish in case of recovery.

 

In the bigger picture, rally from 1.3624 (2017 low) should have completed at 1.6189 already, ahead of 1.6587 key resistance (2015 high). 1.6189 is seen as a medium term top. Deeper fall would be seen to 38.2% retracement of 1.3624 to 1.6189 at 1.5209 first. Decisive break there will pave the way to 61.8% retracement at 1.4604. In that case, we’ll look for bottoming again below 1.4604. On the upside, firm break of 1.5773 support turned resistance is needed to indicate completion of the fall from 1.6189. Otherwise, further decline is expected in medium term, even in case of strong rebound.

In the longer term picture, the rise from 1.1602 long term bottom (2012 low) isn’t over yet. We’ll keep monitoring the development but there is prospect of extending the rise to 61.8% retracement of 2.1127 to 1.1602 at 1.7488 and above. However, sustained trading below 1.3624 key support should indicate long term reversal and target 1.1602 long term bottom again.

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EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.5439; (P) 1.5484; (R1) 1.5512; More….

EUR/AUD’s decline continues today and reaches as low as 1.5437 so far. Intraday bias remains on the downside. Current fall from 1.6189 should target 1.5153 key support next. On the upside, break of 1.5617 resistance is needed to indicate short term bottoming. Otherwise, outlook will remain bearish in case of recovery.

In the bigger picture, rally from 1.3624 (2017 low) should have completed at 1.6189 already, ahead of 1.6587 key resistance (2015 high). 1.6189 is seen as a medium term top. Deeper fall would be seen to 38.2% retracement of 1.3624 to 1.6189 at 1.5209 first. Decisive break there will pave the way to 61.8% retracement at 1.4604. In that case, we’ll look for bottoming again below 1.4604. On the upside, firm break of 1.5773 support turned resistance is needed to indicate completion of the fall from 1.6189. Otherwise, further fall is expected in medium term, even in case of strong rebound.

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EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.5418; (P) 1.5521; (R1) 1.5576; More….

EUR/AUD’s fall resumed after brief recovery and reaches as low as 1.5461 so far. Intraday bias is back on the downside and decline from 1.6139 should target 1.5153 key support next. On the upside, break of 1.5617 resistance is needed to indicate short term bottoming. Otherwise, outlook will remain bearish in case of recovery.

In the bigger picture, rally from 1.3624 (2017 low) should have completed at 1.6189 already, ahead of 1.6587 key resistance (2015 high). 1.6189 is seen as a medium term top. Deeper fall would be seen to 38.2% retracement of 1.3624 to 1.6189 at 1.5209 first. Decisive break there will pave the way to 61.8% retracement at 1.4604. In that case, we’ll look for bottoming again below 1.4604. On the upside, firm break of 1.5773 support turned resistance is needed to indicate completion of the fall from 1.6189. Otherwise, further fall is expected in medium term, even in case of strong rebound.

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EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.5498; (P) 1.5535; (R1) 1.5582; More….

EUR/AUD’s recovery and break of 1.5593 minor resistance suggests temporary bottoming at 1.5487. Intraday bias is turned neutral for consolidations first. Upside of rebound should be limited well below 1.5773 support turned resistance to bring another fall. As noted before, prior break of 1.5621 support is taken as an indication of medium term reversal. Below 1.5487 will target 1.5153 key support next.

In the bigger picture, rally from 1.3624 (2017 low) should have completed at 1.6189 already, ahead of 1.6587 key resistance (2015 high). 1.6189 is seen as a medium term top. Deeper fall would be seen to 38.2% retracement of 1.3624 to 1.6189 at 1.5209 first. Decisive break there will pave the way to 61.8% retracement at 1.4604. In that case, we’ll look for bottoming again below 1.4604. On the upside, break of 55 day EMA (now at 1.5849) is needed to indicate completion of the fall from 1.6189. Otherwise, further fall is expected in medium term, even in case of strong rebound.

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EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.5500; (P) 1.5583; (R1) 1.5634; More….

EUR/AUD’s decline accelerates to as low as 1.5487 so far and intraday bias remains on the upside. Prior break of 1.5621 support is taken as an indication of medium term reversal. Current fall should target 1.5153 support next. On the upside, above 1.5593 minor resistance will turn bias neutral and bring consolidations. But recovery should be limited well below 1.5773 resistance to bring fall resumption.

In the bigger picture, rally from 1.3624 (2017 low) should have completed at 1.6189 already, ahead of 1.6587 key resistance (2015 high). 1.6189 is seen as a medium term top. Deeper fall would be seen to 38.2% retracement of 1.3624 to 1.6189 at 1.5209 first. Decisive break there will pave the way to 61.8% retracement at 1.4604. In that case, we’ll look for bottoming again below 1.4604. On the upside, break of 55 day EMA (now at 1.5849) is needed to indicate completion of the fall from 1.6189. Otherwise, further fall is expected in medium term, even in case of strong rebound.

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EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.5639; (P) 1.5684; (R1) 1.5720; More….

EUR/AUD’s decline extends lower today and breaks 1.5621 key support level. That’s taken as an indication of medium term reversal. Intraday bias remains on the downside for 1.5153 support next. On the upside, break of 1.5726 resistance is needed to indicate short term bottoming. Otherwise, outlook will remain bearish in case of recovery.

In the bigger picture, rally from 1.3624 (2017 low) should have completed at 1.6189 already, ahead of 1.6587 key resistance (2015 high). 1.6189 is seen as a medium term top. Deeper fall would be seen to 38.2% retracement of 1.3624 to 1.6189 at 1.5209 first. Decisive break there will pave the way to 61.8% retracement at 1.4604. In that case, we’ll look for bottoming again below 1.4604. On the upside, break of 55 day EMA (now at 1.5849) is needed to indicate completion of the fall from 1.6189. Otherwise, further fall is expected in medium term, even in case of strong rebound.

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EUR/AUD Weekly Outlook

EUR/AUD’s decline accelerated to as low as 1.5652 last week. Downside acceleration raised the chance of medium term reversal. Initial bias remains on the downside this week for 1.5621 key support next. On the upside, break of 1.5774 support turned resistance is needed to be first sign of short term bottoming. Otherwise, deeper will still be in favor in case of recovery.

In the bigger picture, considering bearish divergence condition in daily MACD, even if rise from 1.3624 (2017 low) extends, upside should b limited by 1.6587 key resistance (2015 high) to bring reversal. Meanwhile, sustained break of 1.5621 support should confirm reversal and turn outlook bearish for 1.5153 support and below.

In the longer term picture, the rise from 1.1602 long term bottom (2012 low) isn’t over yet. We’ll keep monitoring the development but there is prospect of extending the rise to 61.8% retracement of 2.1127 to 1.1602 at 1.7488 and above. However, sustained trading below 1.3671 should indicate long term reversal and target 1.1602 long term bottom again.

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EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.5660; (P) 1.5702; (R1) 1.5745; More….

Intraday bias in EUR/AUD remains on the downside for 1.5621 key support. Current downside acceleration raises the chance of medium term reversal. And focus will be on 1.5621. On the upside, break of 1.5774 support turned resistance is needed to be first sign of short term bottoming. Otherwise, deeper will still be in favor in case of recovery.

In the bigger picture, while there is bearish divergence condition in daily MACD, there is no clear sign of reversal yet. Current rally from 1.3624 could extend to 1.6587 key resistance (2015 high). Nonetheless, we’d expect further loss of upside momentum, and strong resistance from 1.6587 to limit upside and bring reversal. On the downside, sustained break of 1.5621 support should confirm reversal and turn outlook bearish for 1.5153 support and below.

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EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.5642; (P) 1.5760; (R1) 1.5831; More….

EUR/AUD’s decline extends to as low as 1.5660 so far and intraday bias remains on the downside. Break of channel support indicates acceleration and raises the chance of medium term reversal. Focus will be on 1.5621 key support. On the upside, break of 1.5774 support turned resistance is needed to be first sign of short term bottoming. Otherwise, deeper will still be in favor in case of recovery.

In the bigger picture, while there is bearish divergence condition in daily MACD, there is no clear sign of reversal yet. Current rally from 1.3624 could extend to 1.6587 key resistance (2015 high). Nonetheless, we’d expect further loss of upside momentum, and strong resistance from 1.6587 to limit upside and bring reversal. On the downside, sustained break of 1.5621 support should confirm reversal and turn outlook bearish for 1.5153 support and below.

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EUR/AUD Mid-Day Outlook

Daily Pivots: (S1) 1.5813; (P) 1.5852; (R1) 1.5879; More….

EUR/AUD’s sharp decline and break of 1.5774 indicates resumption of fall from 1.6139. Intraday bias is back on the downside towards 1.5621 support. For now, price actions from 1.6189 are viewed as a corrective pattern. So strong support would be seen above 1.5621 to bring rebound. But break of 1.5887 resistance is needed to indicate near term reversal first. Otherwise, deeper fall is expected even in case of recovery. Meanwhile, decisive break of 1.5621 will carry larger bearish implications.

In the bigger picture, while there is bearish divergence condition in daily MACD, there is no clear sign of reversal yet. Current rally from 1.3624 could extend to 1.6587 key resistance (2015 high). Nonetheless, we’d expect further loss of upside momentum, and strong resistance from 1.6587 to limit upside and bring reversal. On the downside, sustained break of 1.5621 support should confirm reversal and turn outlook bearish for 1.5153 support and below.

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EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.5813; (P) 1.5852; (R1) 1.5879; More….

EUR/AUD was rejected by 4 hour 55 EMA again but it’s staying above 1.5774 temporary low. Intraday bias remains neutral first. As noted before, consolidation pattern from 1.6189 is still unfolding. Deeper decline could be seen through 1.5773 support. But we’d expect downside to be contained above 1.5621 support to bring rebound. On the upside, above 1.5962 will turn bias to the upside for 1.6139 resistance and above.

In the bigger picture, while there is bearish divergence condition in daily MACD, there is no clear sign of reversal yet. Current rally from 1.3624 could extend to 1.6587 key resistance (2015 high). Nonetheless, we’d expect further loss of upside momentum, and strong resistance from 1.6587 to limit upside and bring reversal. On the downside, sustained break of 1.5621 support should confirm reversal and turn outlook bearish for 1.5153 support and below.

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EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.5815; (P) 1.5850; (R1) 1.5886; More….

Intraday bias in EUR/AUD remains neutral at this point. Consolidation pattern from 1.6189 is till unfolding. Deeper decline could be seen through 1.5773 support. But we’d expect downside to be contained above 1.5621 support to bring rebound. On the upside, above 1.5962 will turn bias to the upside for 1.6139 resistance and above.

In the bigger picture, while there is bearish divergence condition in daily MACD, there is no clear sign of reversal yet. Current rally from 1.3624 could extend to 1.6587 key resistance (2015 high). Nonetheless, we’d expect further loss of upside momentum, and strong resistance from 1.6587 to limit upside and bring reversal. On the downside, sustained break of 1.5621 support should confirm reversal and turn outlook bearish for 1.5153 support and below.

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EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.5781; (P) 1.5816; (R1) 1.5855; More….

EUR/AUD recovers ahead of 1.5773 support and intraday bias is turned neutral first. Consolidation pattern from 1.6189 could extend further. And break of 1.5773 cannot be ruled out But downside should be contained above 1.5621 support to bring rebound. On the upside, above 1.5962 will turn bias to the upside for 1.6139 resistance and above.

In the bigger picture, while there is bearish divergence condition in daily MACD, there is no clear sign of reversal yet. Current rally from 1.3624 could extend to 1.6587 key resistance (2015 high). Nonetheless, we’d expect further loss of upside momentum, and strong resistance from 1.6587 to limit upside and bring reversal. On the downside, sustained break of 1.5621 support should confirm reversal and turn outlook bearish for 1.5153 support and below.

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EUR/AUD Weekly Outlook

EUR/AUD’s decline from 1.6139 extended lower to 1.5774 last week. As long as 1.5962 resistance holds, deeper fall is expected through 1.5773. Nonetheless, price actions from 1.6189 are viewed as a consolidation pattern. Therefore, downside should be contained above 1.5621 support to bring rebound. On the upside, above 1.5962 will turn bias to the upside for 1.6139 resistance and above.

In the bigger picture, while there is bearish divergence condition in daily MACD, there is no clear sign of reversal yet. Current rally from 1.3624 could extend to 1.6587 key resistance (2015 high). Nonetheless, we’d expect further loss of upside momentum, and strong resistance from 1.6587 to limit upside and bring reversal. On the downside, sustained break of 1.5621 support should confirm reversal and turn outlook bearish for 1.5153 support and below.

In the longer term picture, the rise from 1.1602 long term bottom (2012 low) isn’t over yet. We’ll keep monitoring the development but there is prospect of extending the rise to 61.8% retracement of 2.1127 to 1.1602 at 1.7488 and above. However, sustained trading below 1.3671 should indicate long term reversal and target 1.1602 long term bottom again.

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EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.5785; (P) 1.5843; (R1) 1.5874; More….

EUR/AUD’s decline from 1.6139 resumed by taking out 1.5837 and reaches as low as 1.5774 so far. Intraday bias is back on the downside for further fall. But still, as price actions from 1.6189 are viewed as a consolidation pattern, downside should be contained above 1.5621 support to bring rebound. Above 1.5962 will turn bias to the upside for 1.6139 resistance.

In the bigger picture, while there is bearish divergence condition in daily MACD, there is no clear sign of reversal yet. Current rally from 1.3624 could extend to 1.6587 key resistance (2015 high). Nonetheless, we’d expect further loss of upside momentum, and strong resistance from 1.6587 to limit upside and bring reversal. On the downside, sustained break of 1.5621 support should confirm reversal and turn outlook bearish for 1.5153 support and below.

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EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.5854; (P) 1.5908; (R1) 1.5940; More….

EUR/AUD dips notably after failing to break through 1.5966 minor resistance. But it’s staying above 1.5837 support and intraday bias remains neutral. Price actions from 1.6189 are forming a corrective pattern. Below 1.5837 will extend the leg from 1.6139 and target 1.5773 support and below. But we’d expect strong support above 1.5621 to complete the pattern and bring rebound. On the upside, above 1.5966 support turned resistance will turn bias to the upside for 1.6139 resistance.

In the bigger picture, while there is bearish divergence condition in daily MACD, there is no clear sign of reversal yet. Current rally from 1.3624 could extend to 1.6587 key resistance (2015 high). Nonetheless, we’d expect further loss of upside momentum, and strong resistance from 1.6587 to limit upside and bring reversal. On the downside, sustained break of 1.5621 support should confirm reversal and turn outlook bearish for 1.5153 support and below.

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EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.5863; (P) 1.5903; (R1) 1.5956; More….

Intraday bias in EUR/AUD remains neutral at this point. Price actions from 1.6189 are forming a corrective pattern. Below 1.5837 will extend the leg fro 1.6139 and target 1.5773 support and below. But we’d expect strong support above 1.5621 to complete the pattern and bring rebound. On the upside, above 1.5966 support turned resistance will turn bias to the upside for 1.6139 resistance.

In the bigger picture, while there is bearish divergence condition in daily MACD, there is no clear sign of reversal yet. Current rally from 1.3624 could extend to 1.6587 key resistance (2015 high). Nonetheless, we’d expect further loss of upside momentum, and strong resistance from 1.6587 to limit upside and bring reversal. On the downside, sustained break of 1.5621 support should confirm reversal and turn outlook bearish for 1.5153 support and below.

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EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.5827; (P) 1.5871; (R1) 1.5903; More….

With a temporary low in place at 1.5837, intraday bias in EUR/AUD is turned neutral first. No change in the view that price actions from 1.6189 are forming a corrective pattern. Below 1.5837 will target 1.5773 and below. But we’d expect strong support above 1.5621 to complete the pattern and bring rebound. On the upside, above 1.5966 support turned resistance will turn bias to the upside for 1.6139 resistance.

In the bigger picture, while there is bearish divergence condition in daily MACD, there is no clear sign of reversal yet. Current rally from 1.3624 could extend to 1.6587 key resistance (2015 high). Nonetheless, we’d expect further loss of upside momentum, and strong resistance from 1.6587 to limit upside and bring reversal. On the downside, sustained break of 1.5621 support should confirm reversal and turn outlook bearish for 1.5153 support and below.

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EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.5825; (P) 1.5875; (R1) 1.5906; More….

With 1.5966 minor resistance intact, further decline is expected in EUR/AUD to 1.5773 support and possibly below. Price actions from 1.6189 are viewed as a corrective pattern. Hence, we’d expect strong support above 1.5621 to complete the pattern and bring rebound. On the upside, above 1.5966 support turned resistance will turn bias to the upside for 1.6139 and then 1.6189 high.

In the bigger picture, while there is bearish divergence condition in daily MACD, there is no clear sign of reversal yet. Current rally from 1.3624 could extend to 1.6587 key resistance (2015 high). Nonetheless, we’d expect further loss of upside momentum, and strong resistance from 1.6587 to limit upside and bring reversal. On the downside, sustained break of 1.5621 support should confirm reversal and turn outlook bearish for 1.5153 support and below.

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EUR/AUD Weekly Outlook

EUR/AUD’s decline from 1.6139 continued lower last week as expected. Initial bias remains on the downside this week for 1.5773 support and possibly below. But for now, price actions from 1.6189 are viewed as a corrective pattern. Hence, we’d expect strong support above 1.5621 to complete the pattern and bring rebound. On the upside, above 1.5966 support turned resistance will turn bias to the upside for 1.6139 and then 1.6189 high.

In the bigger picture, while there is bearish divergence condition in daily MACD, there is no clear sign of reversal yet. Current rally from 1.3624 could extend to 1.6587 key resistance (2015 high). Nonetheless, we’d expect further loss of upside momentum, and strong resistance from 1.6587 to limit upside and bring reversal. On the downside, sustained break of 1.5621 support should confirm reversal and turn outlook bearish for 1.5153 support and below.

In the longer term picture, the rise from 1.1602 long term bottom (2012 low) isn’t over yet. We’ll keep monitoring the development but there is prospect of extending the rise to 61.8% retracement of 2.1127 to 1.1602 at 1.7488 and above. However, sustained trading below 1.3671 should indicate long term reversal and target 1.1602 long term bottom again.

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