Mon, May 20, 2019 @ 16:59 GMT

EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.6214; (P) 1.6238; (R1) 1.6270; More

EUR/AUD’s sharp fall and break of 1.6127 suggests temporary topping at 1.1626. Intraday bias is turned neutral for some consolidations first. Downside of retreat should be contained by 38.2% retracement of 1.5683 to 1.6262 at 1.6041 to bring rise resumption. Current development argues that correction from 1.6765 has completed with three waves down to 1.5683. On the upside, break of 1.6262 will target retest of 1.6765 high.

In the bigger picture, as long as 1.5346 support holds, outlook will still remain bullish. Up trend from 1.1602 (2012 low) is expected to resume sooner or later. Break of 1.6765 will target 61.8% retracement of 2.1127 (2008 high) to 1.1602 at 1.7488 next. However, firm break of 1.5346 key support will indicate trend reversal, with bearish divergence condition in weekly MACD, and turn outlook bearish.

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EUR/AUD Weekly Outlook

EUR/AUD surged to as high as 1.6262 last week as rise from 1.5683 extended. The decisive break of 1.6122 resistance confirmed that correction from 1.6765 has completed with three waves down to 1.5683. While upside momentum as weaken mildly, initial bias stays on the upside this week. Further rally should be seen back to retest 1.6765 high. On the downside, below 1.6127 minor support will turn intraday bias neutral and bring consolidation first, before staging another rally.

In the bigger picture, as long as 1.5346 support holds, outlook will still remain bullish. Up trend from 1.1602 (2012 low) is expected to resume sooner or later. Break of 1.6765 will target 61.8% retracement of 2.1127 (2008 high) to 1.1602 at 1.7488 next. However, firm break of 1.5346 key support will indicate trend reversal, with bearish divergence condition in weekly MACD, and turn outlook bearish.

In the longer term picture, the rise from 1.1602 long term bottom (2012 low) is still in progress for 61.8% retracement of 2.1127 to 1.1602 at 1.7488. Firm break there will pave the way to 100% projection of 1.1602 to 1.6587 from 1.3624 at 1.8069. This will remain the favored case as long as 1.5346 remains intact.

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EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.6149; (P) 1.6201; (R1) 1.6265; More

Intraday bias in EUR/AUD remains on the upside at this point. Current rise from 1.5683 in in progress for retesting 1.6765 high. On the downside, below 1.6127 minor support will turn intraday bias neutral and bring consolidation first, before staging another rally.

In the bigger picture, as long as 1.5346 support holds, outlook will still remain bullish. Up trend from 1.1602 (2012 low) is expected to resume sooner or later. Break of 1.6765 will target 61.8% retracement of 2.1127 (2008 high) to 1.1602 at 1.7488 next. However, firm break of 1.5346 key support will indicate trend reversal, with bearish divergence condition in weekly MACD, and turn outlook bearish.

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EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.6125; (P) 1.6165; (R1) 1.6206; More

EUR/AUD surges to as high as 1.6252 so far and intraday bias remains on the upside. Corrective fall from 1.6765 has completed at 1.5683 already. Further rise should now be seen to retest 1.6765 high. On the downside, below 1.6127 minor support will turn intraday bias neutral and bring consolidation first, before staging another rally.

In the bigger picture, as long as 1.5346 support holds, outlook will still remain bullish. Up trend from 1.1602 (2012 low) is expected to resume sooner or later. Break of 1.6765 will target 61.8% retracement of 2.1127 (2008 high) to 1.1602 at 1.7488 next. However, firm break of 1.5346 key support will indicate trend reversal, with bearish divergence condition in weekly MACD, and turn outlook bearish.

 

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EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.6108; (P) 1.6153; (R1) 1.6179; More

EUR/AUD is losing some upside momentum as seen in 4 hour MACD. Still, with 1.6086 minor support intact, intraday bias in EUR/AUD remains on the upside. Current rise from 1.5683 should extend to retest 1.6765 high. On the downside, below 1.6086 minor support will turn intraday bias neutral and bring consolidation first, before staging another rally.

In the bigger picture, as long as 1.5346 support holds, outlook will still remain bullish. Up trend from 1.1602 (2012 low) is expected to resume sooner or later. Break of 1.6765 will target 61.8% retracement of 2.1127 (2008 high) to 1.1602 at 1.7488 next. However, firm break of 1.5346 key support will indicate trend reversal, with bearish divergence condition in weekly MACD, and turn outlook bearish.

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EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.6078; (P) 1.6133; (R1) 1.6220; More

Intraday bias in in EUR/AUD remains on the upside at this point. Prior break of 1.6122 resistance indicates that correction form 1.6765 has completed with three waves down to 1.5683. Further rise should be seen back to retest 1.6765 high. On the downside, below 1.6086 minor support will turn intraday bias neutral and bring consolidation first, before staging another rally.

In the bigger picture, as long as 1.5346 support holds, outlook will still remain bullish. Up trend from 1.1602 (2012 low) is expected to resume sooner or later. Break of 1.6765 will target 61.8% retracement of 2.1127 (2008 high) to 1.1602 at 1.7488 next. However, firm break of 1.5346 key support will indicate trend reversal, with bearish divergence condition in weekly MACD, and turn outlook bearish.

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EUR/AUD Mid-Day Outlook

Daily Pivots: (S1) 1.6009; (P) 1.6046; (R1) 1.6090; More

EUR/AUD’s rise resumed and surges to as high as 1.6170 so far. The strong break of 1.6122 resistance should confirm that correction from 1.6765 has completed with three waves down to 1.5683. Intraday bias is back on the upside. Further rally should be seen to retest 1.6765 high. On the downside, break of 1.5959 resistance turned support is needed to indicate completion of rise from 1.5683. Otherwise, near term outlook will remain bullish in case of retreat.

In the bigger picture, as long as 1.5346 support holds, outlook will still remain bullish. Up trend from 1.1602 (2012 low) is expected to resume sooner or later. Break of 1.6765 will target 61.8% retracement of 2.1127 (2008 high) to 1.1602 at 1.7488 next. However, firm break of 1.5346 key support will indicate trend reversal, with bearish divergence condition in weekly MACD, and turn outlook bearish.

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EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.6009; (P) 1.6046; (R1) 1.6090; More

Intraday bias in EUR/AUD remains neutral with focus on 1.6122 key resistance. Decisive break there will confirm the bullish view that correction from 1.6765 has completed with three waves down to 1.5683. In this case, further rise should be seen back to retest 1.6765 high. On the downside, break of 1.5905 support will indicate rejection by 1.6122 and turn bias to the downside for 1.5806 support and below.

In the bigger picture, as long as 1.5346 support holds, outlook will still remain bullish. Up trend from 1.1602 (2012 low) is expected to resume sooner or later. Break of 1.6765 will target 61.8% retracement of 2.1127 (2008 high) to 1.1602 at 1.7488 next. However, firm break of 1.5346 key support will indicate trend reversal, with bearish divergence condition in weekly MACD, and turn outlook bearish.

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EUR/AUD Weekly Outlook

EUR/AUD rose to as high as 1.6121 last week but failed to take out 1.6122 key resistance yet. With a temporary top in place, initial bias is turned neutral this week first. On the upside, decisive break of 1.6122 will confirm the bullish view that correction from 1.6765 has completed with three waves down to 1.5683. In this case, further rise should be seen back to retest 1.6765 high. On the downside, break of 1.5905 support will indicate rejection by 1.6122 and turn bias to the downside for 1.5806 support and below.

In the bigger picture, as long as 1.5346 support holds, outlook will still remain bullish. Up trend from 1.1602 (2012 low) is expected to resume sooner or later. Break of 1.6765 will target 61.8% retracement of 2.1127 (2008 high) to 1.1602 at 1.7488 next. However, firm break of 1.5346 key support will indicate trend reversal, with bearish divergence condition in weekly MACD, and turn outlook bearish.

In the longer term picture, the rise from 1.1602 long term bottom (2012 low) is still in progress for 61.8% retracement of 2.1127 to 1.1602 at 1.7488. Firm break there will pave the way to 100% projection of 1.1602 to 1.6587 from 1.3624 at 1.8069. This will remain the favored case as long as 1.5346 remains intact.

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EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.5979; (P) 1.6051; (R1) 1.6117; More

Intraday bias in EUR/AUD remains on the upside with focus on 1.6122 key resistance. Decisive break will confirm the bullish view that correction from 1.6765 has completed with three waves down to 1.5683. In this case, further rise should be seen back to retest 1.6765 high. On the downside, break of 1.5905 support is needed to indicate completion of the rise from 1.5683. Otherwise, near term outlook will remain bullish in case of retreat.

In the bigger picture, as long as 1.5346 support holds, outlook will still remain bullish. Uptrend from 1.1602 (2012 low) is expected to resume sooner or later. Break of 1.6765 will target 61.8% retracement of 2.1127 (2008 high) to 1.1602 at 1.7488 next. However, firm break of 1.5346 key support will indicate trend reversal, with bearish divergence condition in weekly MACD, and turn outlook bearish.

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EUR/AUD Mid-Day Outlook

Daily Pivots: (S1) 1.5961; (P) 1.5993; (R1) 1.6046; More

EUR/AUD’s rally resumes by powering through 1.6064 temporary top and intraday bias is back on the upside. Focus is now on 1.6122 resistance. Decisive break will confirm the bullish view that correction from 1.6765 has completed with three waves down to 1.5683. In this case, further rise should be seen back to retest 1.6765 high. On the downside, break of 1.5905 support is needed to indicate completion of the rise from 1.5683. Otherwise, near term outlook will remain bullish in case of retreat.

In the bigger picture, as long as 1.5346 support holds, outlook will still remain bullish. Uptrend from 1.1602 (2012 low) is expected to resume sooner or later. Break of 1.6765 will target 61.8% retracement of 2.1127 (2008 high) to 1.1602 at 1.7488 next. However, firm break of 1.5346 key support will indicate trend reversal, with bearish divergence condition in weekly MACD, and turn outlook bearish.

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EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.5961; (P) 1.5993; (R1) 1.6046; More

EUR/AUD rebounded strongly after drawing support from 4 hour 55 EMA, but stays below 1.6064 temporary top. Intraday bias remains neutral first. Further rise is still expected as long as 1.5806 minor support holds. We’d continue to favor the bullish case that correction from 1.6765 has completed with three waves down to 1.5683. On the upside, above 1.6064 will turn bias back to the upside for 1.6122. Decisive break of 1.6122 will confirm this bullish view and target retesting 1.6765 high. However, break of 1.5806 support will argue that fall from 1.6765 is resuming and turn bias back to the downside for 1.5683 low for confirmation.

In the bigger picture, as long as 1.5346 support holds, outlook will still remain bullish. Uptrend from 1.1602 (2012 low) is expected to resume sooner or later. Break of 1.6765 will target 61.8% retracement of 2.1127 (2008 high) to 1.1602 at 1.7488 next. However, firm break of 1.5346 key support will indicate trend reversal, with bearish divergence condition in weekly MACD, and turn outlook bearish.

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EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.5896; (P) 1.5973; (R1) 1.6040; More

Intraday bias in EUR/AUD remains neutral for consolidation below 1.6064 temporary top. Further rise is still expected as long as 1.5806 minor support holds. We’d continue to favor the bullish case that correction from 1.6765 has completed with three waves down to 1.5683. On the upside, above 1.6064 will turn bias back to the upside for 1.6122. Decisive break of 1.6122 will confirm this bullish view and target retesting 1.6765 high. However, break of 1.5806 support will argue that fall from 1.6765 is resuming and turn bias back to the downside for 1.5683 low for confirmation.

In the bigger picture, as long as 1.5346 support holds, outlook will still remain bullish. Uptrend from 1.1602 (2012 low) is expected to resume sooner or later. Break of 1.6765 will target 61.8% retracement of 2.1127 (2008 high) to 1.1602 at 1.7488 next. However, firm break of 1.5346 key support will indicate trend reversal, with bearish divergence condition in weekly MACD, and turn outlook bearish.

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EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.5973; (P) 1.6019; (R1) 1.6053; More

EUR/AUD formed a temporary top at 1.6064, ahead of 1.6122 key resistance and retreated sharply. Intraday bias is turned neutral first. Some more consolidations would be seen in near term. But at this point, we’d continue to favor the bullish case that correction from 1.6765 has completed with three waves down to 1.5683. On the upside, above 1.6064 will turn bias back to the upside for 1.6122. Decisive break of 1.6122 will confirm this bullish view and target retesting 1.6765 high. However, break of 1.5806 support will argue that fall from 1.6765 is resuming and turn bias back to the downside for 1.5683 low for confirmation.

In the bigger picture, as long as 1.5346 support holds, outlook will still remain bullish. Uptrend from 1.1602 (2012 low) is expected to resume sooner or later. Break of 1.6765 will target 61.8% retracement of 2.1127 (2008 high) to 1.1602 at 1.7488 next. However, firm break of 1.5346 key support will indicate trend reversal, with bearish divergence condition in weekly MACD, and turn outlook bearish.

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EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.5912; (P) 1.5954; (R1) 1.5988; More

EUR/AUD’s rally resumes today by breaking 1.5994 temporary top. Intraday bias is back on the upside for 1.6122 resistance. As note before, we’d continue to favor the bullish case that correction from 1.6765 has completed with three waves down to 1.5683. Decisive break of 1.6122 will confirm this bullish view and target retesting 1.6765 high. For now, near term outlook will stay cautiously bullish as long as 1.5920 minor support holds, in case of retreat.

In the bigger picture, as long as 1.5346 support holds, outlook will still remain bullish. Uptrend from 1.1602 (2012 low) is expected to resume sooner or later. Break of 1.6765 will target 61.8% retracement of 2.1127 (2008 high) to 1.1602 at 1.7488 next. However, firm break of 1.5346 key support will indicate trend reversal, with bearish divergence condition in weekly MACD, and turn outlook bearish.

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EUR/AUD Weekly Outlook

EUR/AUD rose further to as high as 1.5994 last week but formed temporary top there and retreated. Initial bias is turned neutral this week for some consolidations first. But we’d expect downside to be contained above 1.5806 support to bring another rally. We’d continue to favor the bullish case that correction from 1.6765 has completed with three waves down to 1.5683. On the upside, above 1.5994 will target 1.6122 to confirm this bullish view. Decisive break there will bring retest of 1.6765 high.

In the bigger picture, as long as 1.5346 support holds, outlook will still remain bullish. Uptrend from 1.1602 (2012 low) is expected to resume sooner or later. Break of 1.6765 will target 61.8% retracement of 2.1127 (2008 high) to 1.1602 at 1.7488 next. However, firm break of 1.5346 key support will indicate trend reversal, with bearish divergence condition in weekly MACD, and turn outlook bearish.

In the longer term picture, the rise from 1.1602 long term bottom (2012 low) is still in progress for 61.8% retracement of 2.1127 to 1.1602 at 1.7488. Firm break there will pave the way to 100% projection of 1.1602 to 1.6587 from 1.3624 at 1.8069. This will remain the favored case as long as 1.5346 remains intact.

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EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.5936; (P) 1.5964; (R1) 1.5989; More

EUR/AUD is losing some upside momentum as seen in 4 hour MACD. But further rise is in favor for 1.6122 resistance. We’re still slightly favoring the bullish case that correction from 1.6765 has completed with three waves down to 1.5683. Decisive break of 1.6122 will confirm this bullish case and bring retest of 1.6765 high next. Near term outlook will now remain cautiously bullish as long as 1.5806 support holds, in case of retreat.

In the bigger picture, as long as 1.5346 support holds, outlook will still remain bullish. Uptrend from 1.1602 (2012 low) is expected to resume sooner or later. Break of 1.6765 will target 61.8% retracement of 2.1127 (2008 high) to 1.1602 at 1.7488 next. However, firm break of 1.5346 key support will indicate trend reversal, with bearish divergence condition in weekly MACD, and turn outlook bearish.

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EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.5905; (P) 1.5949; (R1) 1.6004; More

Intraday bias in EUR/AUD remains on the upside for 1.6122 resistance. We’re still slightly favoring the bullish case that correction from 1.6765 has completed with three waves down to 1.5683. Decisive break of 1.6122 will confirm this bullish case and bring retest of 1.6765 high next. Near term outlook will now remain cautiously bullish as long as 1.5806 support holds, in case of retreat.

In the bigger picture, as long as 1.5346 support holds, outlook will still remain bullish. Uptrend from 1.1602 (2012 low) is expected to resume sooner or later. Break of 1.6765 will target 61.8% retracement of 2.1127 (2008 high) to 1.1602 at 1.7488 next. However, firm break of 1.5346 key support will indicate trend reversal, with bearish divergence condition in weekly MACD, and turn outlook bearish.

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EUR/AUD Mid-Day Outlook

Daily Pivots: (S1) 1.5840; (P) 1.5896; (R1) 1.5962; More

EUR/AUD’s break of 1.5959 indicates resumption of rise from 1.5683. Intraday bias is turned back to the upside for 1.6122 resistance. as noted before, correction from 1.6765 should have completed with three waves down to 1.5683. Break of 1.6122 should confirm and bring retest of 1.6765 high next. Near term outlook will now remain cautiously bullish as long as 1.5806 support holds, in case of retreat.

In the bigger picture, as long as 1.5346 support holds, outlook will still remain bullish. Uptrend from 1.1602 (2012 low) is expected to resume sooner or later. Break of 1.6765 will target 61.8% retracement of 2.1127 (2008 high) to 1.1602 at 1.7488 next. However, firm break of 1.5346 key support will indicate trend reversal, with bearish divergence condition in weekly MACD, and turn outlook bearish.

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EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.5840; (P) 1.5896; (R1) 1.5962; More

EUR/AUD is staying below 1.5959 temporary top despite strong recovery. Intraday bias remains neutral for the moment. At this point, we’re still slightly favoring the bullish case that correction from 1.6765 has completed with three waves down to 1.5683. On the upside, above 1.5959 affirm this week and target 1.6122 resistance for confirmation. On the downside, in case of another fall, downside should be contained above 1.5683 to bring rise resumption.

In the bigger picture, as long as 1.5346 support holds, outlook will still remain bullish. Uptrend from 1.1602 (2012 low) is expected to resume sooner or later. Break of 1.6765 will target 61.8% retracement of 2.1127 (2008 high) to 1.1602 at 1.7488 next. However, firm break of 1.5346 key support will indicate trend reversal, with bearish divergence condition in weekly MACD, and turn outlook bearish.

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