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EUR AUD Technical Analysis - EUR AUD Trading: 2023-01-05
EUR/AUD Technical Analysis Summary
Below 1,537
Sell Stop
Above 1,597
Stop Loss
| Indicator | Signal |
| RSI | Sell |
| MACD | Sell |
| MA(200) | Neutral |
| Fractals | Sell |
| Parabolic SAR | Sell |
| Bollinger Bands | Neutral |
EUR/AUD Chart Analysis
EUR/AUD Technical Analysis
On the daily timeframe, EURAUD: D1 failed to break through the long-term downtrend upwards and is trying to correct downwards. A number of technical analysis indicators have formed downward signals. We do not rule out a bearish movement if EURAUD: D1 falls below the latest low, the 200-day moving average and the lower Bollinger band: 1.537. This level can be used as an entry point. Initial risk limit possible above the last 2 up fractals and the Parabolic signal: 1.597. After opening a pending order, we move the stop following the Bollinger and Parabolic signals to the next fractal low. Thus, we change the potential profit/loss ratio in our favor. The most cautious traders, after making a trade, can switch to a four-hour chart and set a stop loss, moving it in the direction of movement. If the price overcomes the stop level (1.597) without activating the order (1.537), it is recommended to delete the order: there are internal changes in the market that were not taken into account.
Fundamental Analysis of Forex - EUR/AUD
Australia's economic performance looks better than the EU's. Will EURAUD quotes continue to decline?
S&P Global European Union Manufacturing PMI in December was 47.8 points. The S&P Global Australia Manufacturing PMI was also much higher in December at 50.2. On January 6, significant data on inflation for December will be released in the Eurozone.
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