Thu, Jul 09, 2020 @ 12:19 GMT

EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.3916; (P) 1.3965; (R1) 1.4007; More

EUR/AUD’s pull back indicates temporary topping at 1.4014. Intraday bias is turned neutral for consolidation. We’re holding on to the view that a short term bottom was formed at 1.3624, on bullish convergence condition in 4 hour MACD. And, the cross could have defended 1.3671 key support level successfully and is staging trend reversal. Above 1.4014 will target 1.4289 resistance first. Break will affirm this case and target 1.4721 resistance for confirmation. On the downside, below 1.3835 minor support will dampen this bullish view and turn bias back to the downside for 1.3624 low.

In the bigger picture, price actions from 1.6587 medium term top are viewed as a corrective pattern. We’d expect strong support from 1.3671 key level to contain downside and bring rebound. Up trend from 1.1602 should not be finished and will resume later. Break of 1.4721 resistance will indicate completion of such correction and turn outlook bullish for retesting 1.6587 high. However, sustained break of 1.3671 will invalidate our bullish view and would turn focus back to 1.1602 long term bottom.

- advertisement -

EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.3901; (P) 1.3943; (R1) 1.4021; More

Intraday bias in EUR/AUD remains on the upside for the moment. Current development suggests short term bottoming at 1.3624, on bullish convergence condition in 4 hour MACD. The cross could have defended 1.3671 key support level successfully and is staging trend reversal. Further rise should be seen to 1.4289 resistance first. Break will affirm this case and target 1.4721 resistance for confirmation. On the downside, below 1.3835 minor support will dampen this bullish view and turn bias back to the downside for 1.3624 low.

In the bigger picture, price actions from 1.6587 medium term top are viewed as a corrective pattern. We’d expect strong support from 1.3671 key level to contain downside and bring rebound. Up trend from 1.1602 should not be finished and will resume later. Break of 1.4721 resistance will indicate completion of such correction and turn outlook bullish for retesting 1.6587 high. However, sustained break of 1.3671 will invalidate our bullish view and would turn focus back to 1.1602 long term bottom.

- advertisement -

EUR/AUD Weekly Outlook

EUR/AUD’s strong rebound last week and break of 1.3900 resistance indicate short term bottoming at 1.3624, on bullish convergence condition in 4 hour MACD. Also, it’s an early sign on trend reversal as the cross defended 1.3671 key support level. Initial bias stays on the upside this week for 1.4289 resistance first. Break will confirm this affirm this case and target 1.4721 resistance for confirmation. On the downside, below 1.3835 minor support will dampen this bullish view and turn bias back to the downside for 1.3624 low.

In the bigger picture, price actions from 1.6587 medium term top are viewed as a corrective pattern. We’d expect strong support from 1.3671 key level to contain downside and bring rebound. Up trend from 1.1602 should not be finished and will resume later. Break of 1.4721 resistance will indicate completion of such correction and turn outlook bullish for retesting 1.6587 high. However, sustained break of 1.3671 will invalidate our bullish view and would turn focus back to 1.1602 long term bottom.

In the longer term picture, the rise from 1.1602 long term bottom 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, break of 1.3671 should confirm trend reversal and target 1.1602 long term bottom again.

- advertisement -

EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.3773; (P) 1.3833; (R1) 1.3935; More

The break of 1.3900 resistance suggests that a short term bottom is in place at 1.3642 on bullish convergence condition in 4 hour MACD. Also, this is taken as an early sign of trend reversal as EUR/AUD defended 1.3671 key support level. Intraday bias is turned back to the upside for 1.4289 resistance next.

In the bigger picture, price actions from 1.6587 medium term top are viewed as a corrective pattern. We’d expect strong support from 1.3671 key level to contain downside and bring rebound. Up trend from 1.1602 should not be finished and will resume later. Break of 1.4721 resistance will indicate completion of such correction and turn outlook bullish for retesting 1.6587 high. However, sustained break of 1.3671 will invalidate our bullish view and would turn focus back to 1.1602 long term bottom.

- advertisement -

EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.3699; (P) 1.3767; (R1) 1.3807; More

Intraday bias in EUR/AUD remains neutral for the moment. At this point, we’d still expect strong support from 1.3671 to contain downside to complete the correction from 1.6587. This is supported by bullish convergence condition in 4 hour MACD. Break of 1.3900 resistance will confirm short term bottoming and turn bias back to the upside for 1.4289 resistance. However, sustained break of 1.3671 will invalidate our view.

In the bigger picture, price actions from 1.6587 medium term top are viewed as a corrective pattern. We’d expect strong support from 1.3671 key level to contain downside and bring rebound. Up trend from 1.1602 should not be finished and will resume later. Break of 1.4721 resistance will indicate completion of such correction and turn outlook bullish for retesting 1.6587 high. However, sustained break of 1.3671 will invalidate our bullish view and would turn focus back to 1.1602 long term bottom.

- advertisement -

EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.3732; (P) 1.3774; (R1) 1.3836; More

Intraday bias in EUR/AUD remains neutral for the moment. At this point, we’d still expect strong support from 1.3671 to contain downside to complete the correction from 1.6587. This is supported by bullish convergence condition in 4 hour MACD. Break of 1.3900 resistance will confirm short term bottoming and turn bias back to the upside for 1.4289 resistance. However, sustained break of 1.3671 will invalidate our view.

In the bigger picture, price actions from 1.6587 medium term top are viewed as a corrective pattern. We’d expect strong support from 1.3671 key level to contain downside and bring rebound. Up trend from 1.1602 should not be finished and will resume later. Break of 1.4721 resistance will indicate completion of such correction and turn outlook bullish for retesting 1.6587 high. However, sustained break of 1.3671 will invalidate our bullish view and would turn focus back to 1.1602 long term bottom.

- advertisement -

EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.3700; (P) 1.3767; (R1) 1.3830; More

Intraday bias in EUR/AUD remains neutral for the moment. At this point, we’d still expect strong support from 1.3671 to contain downside to complete the correction from 1.6587. This is supported by bullish convergence condition in 4 hour MACD. Break of 1.3900 resistance will confirm short term bottoming and turn bias back to the upside for 1.4289 resistance. However, sustained break of 1.3671 will invalidate our view.

In the bigger picture, price actions from 1.6587 medium term top are viewed as a corrective pattern. We’d expect strong support from 1.3671 key level to contain downside and bring rebound. Up trend from 1.1602 should not be finished and will resume later. Break of 1.4721 resistance will indicate completion of such correction and turn outlook bullish for retesting 1.6587 high. However, sustained break of 1.3671 will invalidate our bullish view and would turn focus back to 1.1602 long term bottom.

- advertisement -

EUR/AUD Weekly Outlook

EUR/AUD dipped to 1.3624 last week and breached 1.3671 key support level. But the cross quickly recovered. Initial bias stays neutral this week first. At this point, we’d still expect strong support from 1.3671 to contain downside to complete the correction from 1.6587. This is supported by bullish convergence condition in 4 hour MACD. Break of 1.3900 resistance will confirm short term bottoming and turn bias back to the upside for 1.4289 resistance. However, sustained break of 1.3671 will invalidate our view.

In the bigger picture, price actions from 1.6587 medium term top are viewed as a corrective pattern. We’d expect strong support from 1.3671 key level to contain downside and bring rebound. Up trend from 1.1602 should not be finished and will resume later. Break of 1.4721 resistance will indicate completion of such correction and turn outlook bullish for retesting 1.6587 high. However, sustained break of 1.3671 will invalidate our bullish view and would turn focus back to 1.1602 long term bottom.

In the longer term picture, the rise from 1.1602 long term bottom 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, break of 1.3671 should confirm trend reversal and target 1.1602 long term bottom again.

Subscribe to our daily and mid-day newsletter to get this report delivered to your mail box

- advertisement -

EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.3637; (P) 1.3693; (R1) 1.3761; More

EUR/AUD breached 1.3671 key support level but recovered quickly. Intraday bias is turned neutral first. We’d still viewing fall from 1.6587 as a corrective move. And strong support is expected from 1.3671 to contain downside and break rebound. Break of 1.3900 resistance will indicate near term reversal and turn bias back to the upside for 1.4025 resistance and above. However, sustained break of 1.3671 will invalidate our view.

In the bigger picture, price actions from 1.6587 medium term top are viewed as a corrective pattern. We’d expect strong support from 1.3671 key level to contain downside and bring rebound. Up trend from 1.1602 should not be finished and will resume later. Break of 1.4721 resistance will indicate completion of such correction and turn outlook bullish for retesting 1.6587 high. However, sustained break of 1.3671 will invalidate our bullish view and would turn focus back to 1.1602 long term bottom.

- advertisement -

EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.3691; (P) 1.3752; (R1) 1.3785; More

EUR/AUD’s decline resumed by taking out 1.3722 and intraday bias is back on the downside. Bullish convergence condition is seen in 4 hour MACD. Also, price actions from 1.6587 are seen as a corrective move. Hence, we’d expect strong support from 1.3671 key level to contain downside and bring rebound. Break of 1.3900 resistance will indicate near term reversal and turn bias back to the upside for 1.4025 resistance and above.

In the bigger picture, price actions from 1.6587 medium term top are viewed as a corrective pattern. We’d expect strong support from 1.3671 key level to contain downside and bring rebound. Up trend from 1.1602 should not be finished and will resume later. Break of 1.4721 resistance will indicate completion of such correction and turn outlook bullish for retesting 1.6587 high. However, sustained break of 1.3671 will invalidate our bullish view and would turn focus back to 1.1602 long term bottom.

Subscribe to our daily and mid-day newsletter to get this report delivered to your mail box

- advertisement -

EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.3775; (P) 1.3818; (R1) 1.3841; More

EUR/AUD is staying in range above 1.3722 and intraday bias remains neutral for the moment. We’re holding on to the view that price actions from 1.6587 are corrective in nature. Thus, we’d expect strong support from 1.3671 key level to contain downside and bring rebound. Decisive break of 1.4025 support turned resistance will indicate near term reversal. In this case, intraday bias will be turned back to the upside for 1.4289 resistance first.

In the bigger picture, price actions from 1.6587 medium term top are viewed as a corrective pattern. We’d expect strong support from 1.3671 key level to contain downside and bring rebound. Up trend from 1.1602 should not be finished and will resume later. Break of 1.4721 resistance will indicate completion of such correction and turn outlook bullish for retesting 1.6587 high. However, sustained break of 1.3671 will invalidate our bullish view and would turn focus back to 1.1602 long term bottom.

Subscribe to our daily and mid-day newsletter to get this report delivered to your mail box

- advertisement -

EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.3804; (P) 1.3853; (R1) 1.3881; More

Intraday bias in EUR/AUD remains neutral for the moment. We’re holding on to the view that price actions from 1.6587 are corrective in nature. Thus, we’d expect strong support from 1.3671 key level to contain downside and bring rebound. Decisive break of 1.4025 support turned resistance will indicate near term reversal. In this case, intraday bias will be turned back to the upside for 1.4289 resistance first.

In the bigger picture, price actions from 1.6587 medium term top are viewed as a corrective pattern. We’d expect strong support from 1.3671 key level to contain downside and bring rebound. Up trend from 1.1602 should not be finished and will resume later. Break of 1.4721 resistance will indicate completion of such correction and turn outlook bullish for retesting 1.6587 high. However, sustained break of 1.3671 will invalidate our bullish view and would turn focus back to 1.1602 long term bottom.

Subscribe to our daily and mid-day newsletter to get this report delivered to your mail box

- advertisement -

EUR/AUD Weekly Outlook

EUR/AUD dropped to as low as 1.3722 last week before forming a temporary low and recovered. Initial bias is neutral this week first. We’re holding on to the view that price actions from 1.6587 are corrective in nature. Thus, we’d expect strong support from 1.3671 key level to contain downside and bring rebound. Decisive break of 1.4025 support turned resistance will indicate near term reversal. In this case, intraday bias will be turned back to the upside for 1.4289 resistance first.

In the bigger picture, price actions from 1.6587 medium term top are viewed as a corrective pattern. We’d expect strong support from 1.3671 key level to contain downside and bring rebound. Up trend from 1.1602 should not be finished and will resume later. Break of 1.4721 resistance will indicate completion of such correction and turn outlook bullish for retesting 1.6587 high. However, sustained break of 1.3671 will invalidate our bullish view and would turn focus back to 1.1602 long term bottom.

In the longer term picture, the rise from 1.1602 long term bottom 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, break of 1.3671 should confirm trend reversal and target 1.1602 long term bottom again.

Subscribe to our daily and mid-day newsletter to get this report delivered to your mail box

- advertisement -

EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.3770; (P) 1.3825; (R1) 1.3923; More

A temporary low is in place at 1.3722 in EUR/AUD and intraday bias is turned neutral first. Whole pattern from 1.6587 high is seen as corrective. Hence we’d expect strong support from 1.3671 key level to bring reversal. Break of 1.4025 support turned resistance should indicate bottoming. In that case, intraday bias would be turned back to the upside for 1.4289 resistance next.

In the bigger picture, price actions from 1.6587 medium term top are viewed as a corrective pattern. Deeper fall could be seen but, we’d expect strong support above 1.3671 to contain downside and bring rebound. Up trend from 1.1602 should not be finished and will resume later. Break of 1.4721 resistance will indicate completion of such correction and outlook bullish for retesting 1.6587 high. However, sustained break of 1.3671 will invalidate our bullish view and would turn focus back to 1.1602 long term bottom.

Subscribe to our daily and mid-day newsletter to get this report delivered to your mail box

- advertisement -

EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.3710; (P) 1.3757; (R1) 1.3791; More

EUR/AUD’s fall is still in progress and intraday bias remains on the downside for 1.3671 key support level. At this point, we’d expect strong support around 1.3671 to bring rebound. On the upside, above 1.3888 minor resistance will turn bias neutral first. Firm break of 1.4025 support turned resistance will indicate short term bottoming and turn focus back to 1.4289 resistance.

In the bigger picture, price actions from 1.6587 medium term top are viewed as a corrective pattern. Deeper fall could be seen but, we’d expect strong support above 1.3671 to contain downside and bring rebound. Up trend from 1.1602 should not be finished and will resume later. Break of 1.4721 resistance will indicate completion of such correction and outlook bullish for retesting 1.6587 high. However, sustained break of 1.3671 will invalidate our bullish view and would turn focus back to 1.1602 long term bottom.

Subscribe to our daily and mid-day newsletter to get this report delivered to your mail box

- advertisement -

EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.3778; (P) 1.3825; (R1) 1.3849; More

Intraday bias in EUR/AUD remains on the downside as fall from 1.4721 continues. It’s seen as part of the larger down trend from 1.6587 and should target 1.3671 key support level next. At this point, we’d still expect strong support around 1.3671 to bring rebound. On the upside, above 1.3888 minor resistance will turn bias neutral first. Firm break of 1.4025 support turned resistance will indicate short term bottoming and turn focus back to 1.4289 resistance.

In the bigger picture, price actions from 1.6587 medium term top are viewed as a corrective pattern. Deeper fall could be seen but, we’d expect strong support above 1.3671 to contain downside and bring rebound. Up trend from 1.1602 should not be finished and will resume later. Break of 1.4721 resistance will indicate completion of such correction and outlook bullish for retesting 1.6587 high. However, sustained break of 1.3671 will invalidate our bullish view and would turn focus back to 1.1602 long term bottom.

Subscribe to our daily and mid-day newsletter to get this report delivered to your mail box

- advertisement -

EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.3834; (P) 1.3862; (R1) 1.3894; More

EUR/AUD’s decline continues today and reaches as low as 1.3808 so far. Intraday bias remains on the downside for 1.3671 key support level next. At this point, we’d still expect strong support around 1.3671 to bring rebound. On the upside, above 1.3888 minor resistance will turn bias neutral first. Firm break of 1.4025 support turned resistance will indicate short term bottoming and turn focus back to 1.4289 resistance.

In the bigger picture, price actions from 1.6587 medium term top are viewed as a corrective pattern. Deeper fall could be seen but, we’d expect strong support above 1.3671 to contain downside and bring rebound. Up trend from 1.1602 should not be finished and will resume later. Break of 1.4721 resistance will indicate completion of such correction and outlook bullish for retesting 1.6587 high. However, sustained break of 1.3671 will invalidate our bullish view and would turn focus back to 1.1602 long term bottom.

Subscribe to our daily and mid-day newsletter to get this report delivered to your mail box

- advertisement -

EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.3804; (P) 1.3892; (R1) 1.3945; More

Intraday bias in EUR/AUD remains on the downside today. Current decline is part of the medium term fall from 1.6587 and should target 1.3671 key support level. At this point, we’d still expect strong support around 1.3671 to bring rebound. On the upside, break of 1.4038 resistance will indicate short term bottoming and turn focus back to 1.4289 resistance.

In the bigger picture, price actions from 1.6587 medium term top are viewed as a corrective pattern. Deeper fall could be seen but, we’d expect strong support above 1.3671 to contain downside and bring rebound. Up trend from 1.1602 should not be finished and will resume later. Break of 1.4721 resistance will indicate completion of such correction and outlook bullish for retesting 1.6587 high. However, sustained break of 1.3671 will invalidate our bullish view and would turn focus back to 1.1602 long term bottom.

Subscribe to our daily and mid-day newsletter to get this report delivered to your mail box

- advertisement -

EUR/AUD Weekly Outlook

EUR/AUD’s medium term decline from 1.6587 extended last week and reached as low as 1.3838. Intraday bias remains on the downside this week and deeper fall should be seen to 1.3671 key support level. At this point, we’d still expect strong support around 1.3671 to bring rebound. On the upside, break of 1.4038 resistance will indicate short term bottoming and turn focus back to 1.4289 resistance.

In the bigger picture, price actions from 1.6587 medium term top are viewed as a corrective pattern. Deeper fall could be seen but, we’d expect strong support above 1.3671 to contain downside and bring rebound. Up trend from 1.1602 should not be finished and will resume later. Break of 1.4721 resistance will indicate completion of such correction and outlook bullish for retesting 1.6587 high. However, sustained break of 1.3671 will invalidate our bullish view and would turn focus back to 1.1602 long term bottom.

In the longer term picture, the rise from 1.1602 long term bottom 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, break of 1.3671 should confirm trend reversal and target 1.1602 long term bottom again.

Subscribe to our daily and mid-day newsletter to get this report delivered to your mail box

- advertisement -

EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.3930; (P) 1.3985; (R1) 1.4027; More

With 1.4075 minor resistance intact, deeper fall is expected in EUR/AUD even though downside momentum is diminishing. Current fall from 1.4721 is seen as part of the larger decline from 1.6587. We’d expect strong support from 1.3671 to contain downside and bring reversal, possibly on bullish convergence condition in 4 hour MACD. On the upside, above 1.4075 minor resistance will turn intraday bias neutral first. Break of 1.4289 resistance will indicate short term bottoming and turn bias back to the upside for 1.4721 resistance.

In the bigger picture, price actions from 1.6587 medium term top are viewed as a consolidative pattern. While further fall cannot be ruled out, we’d expect strong support above 1.3671 to contain downside and bring rebound. Up trend from 1.1602 should not be finished and will resume later. Break of 1.4721 resistance will indicate completion of such correction and outlook bullish for retesting 1.6587 high.

Subscribe to our daily and mid-day newsletter to get this report delivered to your mail box

- advertisement -
- advertisement -