Tue, Oct 22, 2019 @ 08:31 GMT

EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.5826; (P) 1.5871; (R1) 1.5935; More….

EUR/AUD formed a temporary low at 1.5805 and recovered. Intraday bias is turned neutral for some consolidation first. Further decline is expected as long as 1.6154 resistance holds. Break of 1.5805 will extend the fall from 1.6765 to 1.5346 key support next.

In the bigger picture, the failure to sustain above 1.6587 key resistance (2015 high), argues that up trend from 1.1602 (2012 low), is not ready to resume yet. But still, as long as 1.5346 support holds, outlook will remain bullish. 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’s rise extend last week and reached as high as 1.6288. The break of 1.6189 confirmed resumption of the up trend from 1.3624. Initial bias remains on the upside this week. Current rally would target 161.8% projection of 1.5271 to 1.5886 from 1.5601 at 1.6596, which is close to another key resistance level at 1.6587. On the downside, below 1.6121 minor support will turn intraday bias neutral and bring consolidation first, before staging another rally.

In the bigger picture, up trend from 1.3624 (2017 low) has just resumed. 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 1.5601 support is need to be the first sign of medium term reversal. Otherwise, outlook will remain bullish in case of deep pull back.

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) 1.5603; (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) 1.6160; (P) 1.6226; (R1) 1.6323; More….

Intraday bias in EUR/AUD remains on the upside at this point. Current rally should target 161.8% projection of 1.5271 to 1.5886 from 1.5601 at 1.6596, which is close to another key resistance level at 1.6587. On the downside, below 1.6121 minor support will turn intraday bias neutral and bring consolidation first, before staging another rise.

In the bigger picture, up trend from 1.3624 (2017 low) has just resumed. 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 1.5601 support is need to be the first sign of medium term reversal. Otherwise, outlook will remain bullish in case of deep pull back.

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EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.5933; (P) 1.5996; (R1) 1.6035; More….

Intraday bias in EUR/AUD remains neutral for the moment. At this point, we’re favoring the case that decline from 1.6765 has completed at 1.5721 already, on bullish convergence condition in 4 hour MACD. Risk will stay on the upside s long as 1.5721 support holds. On the upside, break of 1.6060 should confirm this bullish view and target a test on 1.6765 high. On the downside, break of 1.5721 will extend the decline to 1.5346 support instead.

In the bigger picture, as long as 1.5346 support holds, outlook will 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) 1.6264; (P) 1.6328; (R1) 1.6399; More

EUR/AUD rises to as high as 1.6484 so far today. Break of 1.6448 resistance indicates resumption of whole rise form 1.5683. Intraday bias stays on the upside for 1.6765 key resistance next. On the downside, below 1.6320 minor support will turn intraday bias neutral first. Downside of retreat should be contained by 1.6247 resistance turned support to bring rise resumption.

In the bigger picture, as long as 1.5346 support holds, medium term 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 and turn outlook bearish.

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EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.6081; (P) 1.6121; (R1) 1.6189; More….

EUR/AUD’s rally is still in progress and intraday bias remains on the upside. Current rise should target 100% projection of 1.5130 to 1.5976 from 1.5621 at 1.6444 next. On the downside, below 1.6039 minor support will turn intraday bias neutral and bring consolidation first. But retreat should be contained well above 1.5621 support to bring rally resumption.

In the bigger picture, current development suggests that rise from 1.3624 is not completed yet. And it’s still in progress for 1.6587 key resistance level. We’d be cautious on strong resistance from there to limit upside, on bearish divergence condition in daily MACD. But for now, break of 1.5621 support is needed to be the first sign of medium term reversal. Otherwise, outlook will stays bullish even in case of deep pull back.

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EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.6143; (P) 1.6196; (R1) 1.6229; More

EUR/AUD is staying in consolidation from 1.6262 and intraday bias remains neutral first. In case of deeper pull back, downside 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 pave the way to retest 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 Daily Outlook

Daily Pivots: (S1) 1.5973; (P) 1.6014; (R1) 1.6085; More….

Intraday bias in EUR/AUD remains on the upside for further rally. Current should target 61.8% projection of 1.5130 to 1.5976 from 1.5621 at 1.6130 first. Break there will target 100% projection at 1.6444 next. On the downside, break of 1.5857 support is needed to indicate short term topping. Otherwise, outlook will remain bullish in case of retreat.

In the bigger picture, current development suggests that rise from 1.3624 is not completed yet. And it’s still in progress for 1.6587 key resistance level. We’d be cautious on strong resistance from there to limit upside, on bearish divergence condition in daily MACD. But for now, break of 1.5621 support is needed to be the first sign of medium term reversal. Otherwise, outlook will stays bullish even in case of deep pull back.

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EUR/AUD Weekly Outlook

After some consolidations, EUR/AUD’s rally extended to as high as 1.6054 last week and closed strongly. Initial bias is back on the upside this week. Current rise would target 61.8% projection of 1.5130 to 1.5976 from 1.5621 at 1.6130 first. Break there will target 100% projection at 1.6444 next. On the downside, break of 1.5857 support is needed to indicate short term topping. Otherwise, outlook will remain bullish in case of retreat.

In the bigger picture, current development suggests that rise from 1.3624 is not completed yet. And it’s still in progress for 1.6587 key resistance level. We’d be cautious on strong resistance from there to limit upside, on bearish divergence condition in daily MACD. But for now, break of 1.5621 support is needed to be the first sign of medium term reversal. Otherwise, outlook will stays bullish even in case of deep pull back.

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) 1.6008; (P) 1.6100; (R1) 1.6149; More….

A temporary top is in place at 1.6189 in EUR/AUD. Intraday bias is turned neutral for consolidation. But another rise will be expected as long as 1.5857 support holds. Above 1.6189 will resume recent rise from 1.5153 to 100% projection of 1.5153 to 1.5976 from 1.5621 at 1.6444 next. However, break of 1.5857 will be an early sign of trend reversal and turn bias to the downside for 1.5621 support to confirm.

In the bigger picture, current development suggests that rise from 1.3624 is not completed yet. And it’s still in progress for 1.6587 key resistance level. We’d be cautious on strong resistance from there to limit upside, on bearish divergence condition in daily MACD. But for now, break of 1.5621 support is needed to be the first sign of medium term reversal. Otherwise, outlook will stays bullish even in case of deep pull back.

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EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.6043; (P) 1.6078; (R1) 1.6118; More

Intraday bias in EUR/AUD is neutral for consolidation above 1.6025 temporary low first. Upside of recovery should be limited below 1.6259 resistance to bring fall resumption. Decline from 1.6448 is now seen as the third leg of the consolidation pattern from 1.6765 high. Break of 1.6025 will target 1.5683 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 and turn outlook bearish.

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EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.5852; (P) 1.5907; (R1) 1.5945; More….

EUR/AUD drops to as low as 1.5848 today and breaches 1.5857 support. Intraday bias is cautiously on the downside now. Sustained break of 1.5857 will be an early sign of trend reversal and deeper fall should be seen to 1.5621 key support for confirmation. On the upside, above 1.5904 will indicate support from 1.5857 and turn bias neutral first.

In the bigger picture, the case for medium term reversal is building up in EUR/AUD. Bearish divergence condition in daily MACD indicates further look of upside momentum ahead of 1.6587 key resistance (2015 high). Break of 1.5621 should confirm medium term topping and bring deeper fall back to 1.5153 and possibly below. Meanwhile, even in case of up trend resumption, we’d be cautious on strong resistance from 1.6587 to limit upside and bring reversal.

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EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.6012; (P) 1.6048; (R1) 1.6091; More….

EUR/AUD’s fall from 1.6189 extends lower today but it’s kept above 1.5857 support. Another rise is still expected in EUR/AUD. Above 1.6084 minor resistance will turn bias back to the upside for 1.6189 first. Break will resume the whole rally from 1.5153 and target 1.6587 key resistance. Nonetheless, break of 1.5857 will be an early sign of trend reversal and turn bias to the downside for 1.5621 support to confirm.

In the bigger picture, current development suggests that rise from 1.3624 is not completed yet. And it’s still in progress for 1.6587 key resistance level. We’d be cautious on strong resistance from there to limit upside, on bearish divergence condition in daily MACD. But for now, break of 1.5621 support is needed to be the first sign of medium term reversal. Otherwise, outlook will stays bullish even in case of deep pull back.

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EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.5907; (P) 1.5955; (R1) 1.6038; More….

EUR/AUD is staying in range below 1.6039 and intraday bias remains neural first. More consolidation could be seen. But still, further rise is expected as long as 1.5791 support holds. Break of 1.6039 will resume larger rally to 61.8% projection of 1.5130 to 1.5976 from 1.5621 at 1.6130 first. Break there will target 100% projection at 1.6444 next. However, break of 1.5791 minor support will be an early sign of near term reversal. In such case, focus will be turned back to 1.5621 support.

In the bigger picture, current development suggests that rise from 1.3624 is not completed yet. And it’s still in progress for 1.6587 key resistance level. We’d be cautious on strong resistance from there to limit upside, on bearish divergence condition in daily MACD. But for now, break of 1.5153 support is needed to indicate medium term reversal. Otherwise, outlook will stays bullish even in case of deep pull back.

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EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.5849; (P) 1.5892; (R1) 1.5925; More….

With 1.5786 minor support intact, further rise is expected in EUR/AUD for 61.8% projection of 1.5258 to 1.5816 from 1.5626 at 1.5971. Break there target 100% projection at 1.6184. On the downside, break of 1.5786 will rise the chance of near term reversal and turn bias to the downside for 1.5626 support.

In the bigger picture, medium term rise from 1.3624 is still in progress for 1.6587 key resistance. At this point, we’d be cautious on strong resistance from there to limit upside. But decisive break will confirm resumption of long term rise from 1.1602. On the downside, break of 1.5153 support is needed to indicate completion of the medium term rise. Otherwise, outlook will remain bullish in case of pull back.

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EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.6012; (P) 1.6048; (R1) 1.6091; More….

EUR/AUD is still bounded in consolidation pattern from 1.6189 and intraday bias remains neutral first. Deeper retreat might be seen. But outlook will stay bullish as long as 1.5857 support holds. On the upside, break of 1.6189 will resume the whole rally from 1.5153 and target 1.6587 key resistance. Nonetheless, break of 1.5857 will be an early sign of trend reversal and turn bias to the downside for 1.5621 support to confirm.

In the bigger picture, current development suggests that rise from 1.3624 is not completed yet. And it’s still in progress for 1.6587 key resistance level. We’d be cautious on strong resistance from there to limit upside, on bearish divergence condition in daily MACD. But for now, break of 1.5621 support is needed to be the first sign of medium term reversal. Otherwise, outlook will stays bullish even in case of deep pull back.

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EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.5996; (P) 1.6018; (R1) 1.6054; More….

EUR/AUD is staying in consolidation below 1.6189 temporary top. Intraday bias remains neutral at this point. Further rally is expected as long as 1.5857 minor support holds. On the upside, break of 1.6189 will resume the whole rally from 1.5153 and target 1.6587 key resistance. Nonetheless, break of 1.5857 will be an early sign of trend reversal and turn bias to the downside for 1.5621 support to confirm.

In the bigger picture, current development suggests that rise from 1.3624 is not completed yet. And it’s still in progress for 1.6587 key resistance level. We’d be cautious on strong resistance from there to limit upside, on bearish divergence condition in daily MACD. But for now, break of 1.5621 support is needed to be the first sign of medium term reversal. Otherwise, outlook will stays bullish even in case of deep pull back.

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EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.5628; (P) 1.5692; (R1) 1.5731; More….

Intraday bias in EUR/AUD remains neutral at this point. On the upside, sustained break of 1.5773 will indicate that whole decline from 1.6189 has completed with three waves down to 1.5271 already. And retest of 1.6189 should be seen next. On the downside, break of 1.5617 minor support will turn bias to the downside for 1.5425. Break there will confirm completion of rebound from 1.5271 and target this low again.

In the bigger picture, focus is back on 1.5773 support turned resistance with the current strong rebound. Firm break there will argue that medium term rise from 1.3624 (2017 low) is not completed yet. Further break of 1.6189 will target 1.6587 key resistance (2015 high). Though, rejection by 1.5773 will revive the case of bearish trend reversal and target 61.8% retracement of 1.3624 to 1.6189 at 1.4604.

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EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.5630; (P) 1.5706; (R1) 1.5773; More….

Intraday bias in EUR/AUD remains neutral at this point. On the downside, decisive break of 1.5626 near term support will firstly resume the fall from 1.5976. Secondly, that will also raise the odds of larger reversal. Deeper fall should then be seen to 61.8% retracement of 1.5153 to 1.5976 at 1.5467 and below. However, on the upside, break of 1.5787 minor resistance will indicate completion of the pull back from 1.5976. And, intraday bias will be turned back to the upside for retesting 1.5976 high instead.

In the bigger picture, change of medium term reversal is increasing with EUR/AUD just missing double projection target. They are 61.8% projection of 1.4421 to 1.5770 from 1.5153 at 1.5987, and 100% projection of 1.3624 to 1.5226 from 1.4421at 1.6023. Also, bearish divergence condition remains in daily MACD. Break of 1.5626 support will add to this bearish case and target 1.5153 key support for confirmation. Nonetheless, before that happens, as long as 1.5153 support holds, medium term rise from 1.3624 could still extend to retest 1.6587 high.

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