EUR/AUD remained in an uptrend

EUR/AUD remained in an uptrend

Trade idea

BUY 1.6155; TP 1.6250; SL 1.6130

EUR/AUD formed a “bullish engulfing pattern” on W1. Notice that this happened at the support line from the 2017 lows. This means that the uptrend is still in place and the pair has a decent chance to go for higher levels, at least May highs in the 1.6250 area. Still, to be safe we would consider entering bullish positions if the pair rises above 1.6150 (50-day MA). The outlook will remain positive until EUR/AUD trades above 0.6035 (weekly pivot).

EURAUD.png

Similar

XAU/USD: an attempt to recover

After forming a “hammer” candlestick on the D1 on Tuesday, XAU/USD rose to $1,467 and consolidated between this level and $1,461.

EUR/CHF looks ill

This week EUR/CHF broke below the 100- and 50-day MAs at 1.0966 and 1.0954 respectively.

Latest news

XAU/USD: an attempt to recover

After forming a “hammer” candlestick on the D1 on Tuesday, XAU/USD rose to $1,467 and consolidated between this level and $1,461.

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