Sun, Nov 18, 2018 @ 16:37 GMT

EUR/AUD Weekly Outlook

EUR/AUD edged lower to 1.5519 last week but recovered since then. Initial bias is neutral this week first. As long as 1.5693 minor resistance intact, further decline is expected. On the downside, break of 1.5519 will resume the decline from 1.6357 for 1.5271/5313 cluster support zone next. On the upside, break of 1.5693 should indicate short term bottoming, on bullish convergence condition in 4 hour MACD. In that case, stronger rebound would be seen back to 55 day EMA (now at 1.5940).

In the bigger picture, current development argues that up trend from 1.3624 (2017 low) is possibly completed at 1.6357, ahead of 1.6587 (2015 high). This is supported by bearish divergence condition in weekly MACD. Deeper decline is now in favor to 1.5271 cluster support (38.2% retracement of 1.3624 to 1.6357 at 1.5313). Break will target 61.8% retracement at 1.4668. On the upside, break of 1.5984 support turned resistance is now needed to revive the prior medium term up trend. Otherwise, further decline will be in favor even in case of strong interim 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) 1.5506; (P) 1.5584; (R1) 1.5649; More….

With 1.5693 minor resistance intact, further decline is expected in EUR/AUD. Current fall from 1.6357 should 1.5271/5313 cluster support zone next. On the upside, though, break of 1.5693 resistance will now indicate short term bottoming. In that case, lengthier consolidation would be seen first before staging another decline.

In the bigger picture, current development argues that up trend from 1.3624 (2017 low) is possibly completed at 1.6357, ahead of 1.6587 (2015 high). This is supported by bearish divergence condition in weekly MACD. Deeper decline is now in favor to 1.5271 cluster support (38.2% retracement of 1.3624 to 1.6357 at 1.5313). Break will target 61.8% retracement at 1.4668. On the upside, break of 1.5984 support turned resistance is now needed to revive the prior medium term up trend. Otherwise, further decline will be in favor even in case of strong interim rebound.

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EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.5611; (P) 1.5653; (R1) 1.5676; More….

EUR/AUD’s decline resumed after consolidation from 1.5575 entered rather quickly, dropping to as low as 1.5546 so far. Intraday bias is back on the downside. Current fall from 1.6357 should target 1.5271/5313 cluster support zone next. On the upside, though, break of 1.5693 resistance will now indicate short term bottoming. In that case, lengthier consolidation would be seen first before staging another decline.

In the bigger picture, current development argues that up trend from 1.3624 (2017 low) is possibly completed at 1.6357, ahead of 1.6587 (2015 high). This is supported by bearish divergence condition in weekly MACD. Deeper decline is now in favor to 1.5271 cluster support (38.2% retracement of 1.3624 to 1.6357 at 1.5313). Break will target 61.8% retracement at 1.4668. On the upside, break of 1.5984 support turned resistance is now needed to revive the prior medium term up trend. Otherwise, further decline will be in favor even in case of strong interim rebound.

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EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.5586; (P) 1.5627; (R1) 1.5681; More….

EUR/AUD formed a temporary low at 1.5575 and recovered. Intraday bias is turned neutral first. Stronger recovery might be seen to 4 hour 55 EMA (now at 1.5741. But upside should be limited by 38.2% retracement of 1.6357 to 1.5575 at 1.5874) to bring fall resumption. On the downside, below 1.5575 will target 1.5271/5313 cluster support zone next.

In the bigger picture, current development argues that up trend from 1.3624 (2017 low) is possibly completed at 1.6357, ahead of 1.6587 (2015 high). This is supported by bearish divergence condition in weekly MACD. Deeper decline is now in favor to 1.5271 cluster support (38.2% retracement of 1.3624 to 1.6357 at 1.5313). Break will target 61.8% retracement at 1.4668. On the upside, break of 1.5984 support turned resistance is now needed to revive the prior medium term up trend. Otherwise, further decline will be in favor even in case of interim rebound.

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EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.5603; (P) 1.5649; (R1) 1.5683; More….

EUR/AUD’s decline continues today and reaches as low as 1.5581 so far. Break of 1.5601 support further affirms the case of medium term bearish reversal. Intraday bias remains on the downside for 1.5271/5313 cluster support zone next. On the upside, above 1.5666 minor resistance will turn intraday bias neutral and bring consolidations, before staging another fall.

In the bigger picture, current development argues that up trend from 1.3624 (2017 low) is possibly completed at 1.6357, ahead of 1.6587 (2015 high). This is supported by bearish divergence condition in weekly MACD. Deeper decline is now in favor to 1.5271 cluster support (38.2% retracement of 1.3624 to 1.6357 at 1.5313). Break will target 61.8% retracement at 1.4668. On the upside, break of 1.5984 support turned resistance is now needed to revive the prior medium term up trend. Otherwise, further decline will be in favor even in case of interim rebound.

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EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.5646; (P) 1.5673; (R1) 1.5711; More….

Outlook in EUR/AUD remains unchanged. Further decline is expected with 1.5853 resistance intact, for 1.5601 support next. Decisive break there will target 1.5271/5313 cluster support zone next. On the upside, break of 1.5853 minor resistance is needed to indicate short term bottoming. Otherwise, outlook will stay bearish in case of recovery.

In the bigger picture, current development argues that up trend from 1.3624 (2017 low) is possibly completed at 1.6357, ahead of 1.6587 (2015 high). This is supported by bearish divergence condition in weekly MACD. Deeper decline is now in favor to 1.5271 cluster support (38.2% retracement of 1.3624 to 1.6357 at 1.5313). Break will target 61.8% retracement at 1.4668. On the upside, break of 1.6357 is needed to confirm up trend resumption. Otherwise, risk will now stay on the downside even in case of strong rebound.

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EUR/AUD Weekly Outlook

EUR/AUD’s decline from 1.6357 extended last week after brief interim consolidation. Further decline is expected this week with 1.5853 resistance intact, for 1.5601 support next. Decisive break there will target 1.5271/5313 cluster support zone next. On the upside, break of 1.5853 minor resistance is needed to indicate short term bottoming. Otherwise, outlook will stay bearish in case of recovery.

In the bigger picture, current development argues that up trend from 1.3624 (2017 low) is possibly completed at 1.6357, ahead of 1.6587 (2015 high). This is supported by bearish divergence condition in weekly MACD. Deeper decline is now in favor to 1.5271 cluster support (38.2% retracement of 1.3624 to 1.6357 at 1.5313). Break will target 61.8% retracement at 1.4668. On the upside, break of 1.6357 is needed to confirm up trend resumption. Otherwise, risk will now stay on the downside 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) 1.5610; (P) 1.5676; (R1) 1.5723; More….

Intraday bias in EUR/AUD remains on the downside as fall from 1.6357 is in progress for .5601 key support. Decisive break there will target 1.5271/5313 cluster support zone next. On the upside, break of 1.5853 minor resistance is needed to indicate short term bottoming. Otherwise, outlook will stay bearish in case of recovery.

In the bigger picture, current development argues that up trend from 1.3624 (2017 low) is possibly completed at 1.6357, ahead of 1.6587 (2015 high). This is supported by bearish divergence condition in weekly MACD. Deeper decline is now in favor to 1.5271 cluster support (38.2% retracement of 1.3624 to 1.6357 at 1.5313). Break will target 61.8% retracement at 1.4668. On the upside, break of 1.6357 is needed to confirm up trend resumption. Otherwise, risk will now stay on the downside even in case of strong rebound.

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EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.5655; (P) 1.5742; (R1) 1.5791; More….

EUR/AUD’s break of 1.5742 temporary low confirms fall resumption. Intraday bias is back on the downside. As noted before, prior break of 1.5984 support is taken as an early sign of medium term trend reversal. Fall from 1.6357 should now target 1.5601 key support first. Decisive break there will pave the way to 1.5271/5313 cluster support zone next. On the upside, break of 1.5853 minor resistance is needed to indicate short term bottoming. Otherwise, outlook will stay bearish in case of recovery.

In the bigger picture, current development argues that up trend from 1.3624 (2017 low) is possibly completed at 1.6357, ahead of 1.6587 (2015 high). This is supported by bearish divergence condition in weekly MACD. Deeper decline is now in favor to 1.5271 cluster support (38.2% retracement of 1.3624 to 1.6357 at 1.5313). Break will target 61.8% retracement at 1.4668. On the upside, break of 1.6357 is needed to confirm up trend resumption. Otherwise, risk will now stay on the downside even in case of strong rebound.

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EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.5738; (P) 1.5789; (R1) 1.5822; More….

Intraday bias in EUR/AUD remains neutral as consolidation from 1.5472 temporary low is in progress. Outlook is unchanged that prior break of 1.5984 support is taken as an early sign of medium term trend reversal. On the downside, break of 1.5742 will target 1.5601 key support. Decisive break there will pave the way to 1.5271/5313 cluster support zone next. In case of another recovery, upside should be limited by 1.5984 support turned resistance to bring fall resumption.

In the bigger picture, current development argues that up trend from 1.3624 (2017 low) is possibly completed at 1.6357, ahead of 1.6587 (2015 high). This is supported by bearish divergence condition in weekly MACD. Deeper decline is now in favor to 1.5271 cluster support (38.2% retracement of 1.3624 to 1.6357 at 1.5313). Break will target 61.8% retracement at 1.4668. On the upside, break of 1.6357 is needed to confirm up trend resumption. Otherwise, risk will now stay on the downside even in case of strong rebound.

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EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.5789; (P) 1.5826; (R1) 1.5859; More….

EUR/AUD is staying in consolidation from 1.5742 and intraday bias remains neutral first. As noted before, prior break of 1.5984 support is taken as an early sign of medium term trend reversal. On the downside, break of 1.5742 will target 1.5601 key support. Decisive break there will pave the way to 1.5271/5313 cluster support zone next. In case of another recovery, upside should be limited by 1.5984 support turned resistance to bring fall resumption.

In the bigger picture, current development argues that up trend from 1.3624 (2017 low) is possibly completed at 1.6357, ahead of 1.6587 (2015 high). This is supported by bearish divergence condition in weekly MACD. Deeper decline is now in favor to 1.5271 cluster support (38.2% retracement of 1.3624 to 1.6357 at 1.5313). Break will target 61.8% retracement at 1.4668. On the upside, break of 1.6357 is needed to confirm up trend resumption. Otherwise, risk will now stay on the downside even in case of strong rebound.

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EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.5756; (P) 1.5806; (R1) 1.5870; More….

Intraday bias in EUR/AUD remains neutral for the moment. Prior break of 1.5984 support is taken as an early sign of medium term trend reversal. Further decline is, thus, in favor as long as this 1.5984 holds. On the downside, below 1.5742 will target 1.5601 support. Break there will pave the way to 1.5271/5313 cluster support zone next.

In the bigger picture, current development argues that up trend from 1.3624 (2017 low) is possibly completed at 1.6357, ahead of 1.6587 (2015 high). This is supported by bearish divergence condition in weekly MACD. Deeper decline is now in favor to 1.5271 cluster support (38.2% retracement of 1.3624 to 1.6357 at 1.5313). Break will target 61.8% retracement at 1.4668. On the upside, break of 1.6357 is needed to confirm up trend resumption. Otherwise, risk will now stay on the downside even in case of strong rebound.

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EUR/AUD Weekly Outlook

EUR/AUD’s sharp decline and firm break of 1.5984 support last week is taken as an early sign of medium term trend reversal. But with a temporary low in place at 1.5742, initial bias is neutral this week first. Some consolidation could be seen but upside should be limited by 1.5984 support turned resistance to bring another decline. Below 1.5742 will turn bias back to the downside for 1.5601 support. Break there will pave the way to 1.5271/5313 cluster support zone next.

In the bigger picture, current development argues that up trend from 1.3624 (2017 low) is possibly completed at 1.6357, ahead of 1.6587 (2015 high). This is supported by bearish divergence condition in weekly MACD. Deeper decline is now in favor to 1.5271 cluster support (38.2% retracement of 1.3624 to 1.6357 at 1.5313). Break will target 61.8% retracement at 1.4668. On the upside, break of 1.6357 is needed to confirm up trend resumption. Otherwise, risk will now stay on the downside 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) 1.5770; (P) 1.5884; (R1) 1.5945; More….

EUR/AUD drops further to as low as 1.5742 so far today and intraday bias remains on the downside for 1.5601 support. Break there will pave the way to 1.5271/5313 cluster support zone next. On the upside, above 1.5890 minor resistance will turn intraday bias neutral and bring consolidations first, before staging another decline.

In the bigger picture, current development argues that up trend from 1.3624 (2017 low) is possibly completed at 1.6357, ahead of 1.6587 (2015 high). Deeper decline is now in favor to 1.5271 cluster support (38.2% retracement of 1.3624 to 1.6357 at 1.5313). Break will target 61.8% retracement at 1.4668. On the upside, break of 1.6357 is needed to confirm up trend resumption. Otherwise, risk will now stay on the downside even in case of strong rebound.

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EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.5957; (P) 1.5997; (R1) 1.6035; More….

EUR/AUD’s strong break of 1.5984 support is now taken as a early sign of trend reversal. Intraday bias is now on the downside for 1.5601 support next. On the upside, above 1.6035 minor resistance will turn intraday bias neutral and bring consolidation, before staging another fall.

In the bigger picture, current development argues that up trend from 1.3624 (2017 low) is possibly completed at 1.6357, ahead of 1.6587 (2015 high). Deeper decline is now in favor to 1.5271 cluster support (38.2% retracement of 1.3624 to 1.6357 at 1.5313). Break will target 61.8% retracement at 1.4668. On the upside, break of 1.6357 is needed to confirm up trend resumption. Otherwise, risk will now stay on the downside even in case of strong rebound.

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EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.5907; (P) 1.6015; (R1) 1.6074; More….

EUR/AUD recovered quickly after breaching 1.5984 support. Intraday bias stays neutral first. On the upside, break of 1.6152 will suggest the choppy decline from 1.6357 has completed. Intraday bias will be turned back to the upside for retesting 1.6357 first. However, on the downside, decisive break of 1.5984 will be an early sign of trend reversal and turn outlook bearish.

In the bigger picture, up trend from 1.3624 (2017 low) is still in progress. Further rise should be seen to retest 1.6587 (2015 high). Decisive break there will resume the long term rally and target 1.7488 fibonacci level. On the downside, break of 1.5984 support is need to be the first sign of medium term reversal. Otherwise, outlook will remain bullish in case of deep pull back. However, sustained break of 1.5984 will be an early sign of trend reversal and turn focus to 1.5601 support for confirmation.

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EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.6045; (P) 1.6098; (R1) 1.6169; More….

EUR/AUD gyrates lower but stays in range of 1.5984/6357. Intraday bias remains neutral for the moment. As long as 1.5984 support holds, further rise is still expected. On the upside, break of 1.6357 will resume larger up trend and target 1.6587 key resistance next. On the downside, however, break of 1.5984 will be an early sign of trend reversal and turn outlook bearish.

In the bigger picture, up trend from 1.3624 (2017 low) is still in progress. Further rise should be seen to retest 1.6587 (2015 high). Decisive break there will resume the long term rally and target 1.7488 fibonacci level. On the downside, break of 1.5984 support is need to be the first sign of medium term reversal. Otherwise, outlook will remain bullish in case of deep pull back. However, sustained break of 1.5984 will be an early sign of trend reversal and turn focus to 1.5601 support for confirmation.

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EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.6032; (P) 1.6111; (R1) 1.6170; More….

Intraday bias in EUR/AUD remains neutral as range trading continues inside 1.5984/6357. As long as 1.5984 support holds, further rise is still expected. On the upside, break of 1.6357 will resume larger up trend and target 1.6587 key resistance next. On the downside, however, break of 1.5984 will be an early sign of trend reversal and turn outlook bearish.

In the bigger picture, up trend from 1.3624 (2017 low) is still in progress. Further rise should be seen to retest 1.6587 (2015 high). Decisive break there will resume the long term rally and target 1.7488 fibonacci level. On the downside, break of 1.5984 support is need to be the first sign of medium term reversal. Otherwise, outlook will remain bullish in case of deep pull back. However, sustained break of 1.5984 will be an early sign of trend reversal and turn focus to 1.5601 support for confirmation.

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EUR/AUD Weekly Outlook

EUR/AUD stayed in consolidative trading in range of 1.5984/6357 last week and outlook is unchanged. Initial bias is neutral this week for more sideway trading. As long as 1.5984 support holds, further rise is still expected. On the upside, break of 1.6357 will resume larger up trend and target 1.6587 key resistance next. On the downside, however, break of 1.5984 will be an early sign of trend reversal and turn outlook bearish.

In the bigger picture, up trend from 1.3624 (2017 low) is still in progress. Further rise should be seen to retest 1.6587 (2015 high). Decisive break there will resume the long term rally and target 1.7488 fibonacci level. On the downside, break of 1.5984 support is need to be the first sign of medium term reversal. Otherwise, outlook will remain bullish in case of deep pull back. However, sustained break of 1.5984 will be an early sign of trend reversal and turn focus to 1.5601 support for confirmation.

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) 1.6007; (P) 1.6094; (R1) 1.6154; More….

EUR/AUD rebounds strongly after hitting 1.6033 but it’s staying in range below 1.6357. Intraday bias remains neutral first. After all, as long as 1.5984 support holds, further rise is expected. On the upside, break of 1.6357 will resume larger up trend to 1.6587 key resistance next. However, break of 1.5984 will be an early sign of trend reversal and turn outlook bearish.

In the bigger picture, up trend from 1.3624 (2017 low) is still in progress. Further rise should be seen to retest 1.6587 (2015 high). Decisive break there will resume the long term rally and target 1.7488 fibonacci level. On the downside, break of 1.5984 support is need to be the first sign of medium term reversal. Otherwise, outlook will remain bullish in case of deep pull back. However, sustained break of 1.5984 will be an early sign of trend reversal.

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