Categories: Technical analysis

EURAUD Wave Analysis – 02 September, 2019

  • EURAUD reversed from resistance area
  • Further losses are likely

EURAUD recently reversed down sharply through the resistance area lying between the long-term resistance level 1.6675, upper daily Bollinger Band and the resistance trendline of the daily up channel from April.

The downward reversal from this resistance area started the active short-term impulse wave (c) of the ABC correction (ii) from the start of August.

EURAUD is expected to fall further and retest the next support level 1.6220 (former resistance from July and the target price for completion of active wave (iii)).

The FxPro Tech Analysis Team

The FxPro technical experts prepare a daily analysis of the most active currency pairs (majors, crosses, exotics) and commodities. Selected instruments are reviewed on daily trends (D1, H4), using the active Elliott Wave setups, Japanese candlesticks, indicators, and support/resistance levels.

Share
Published by
The FxPro Tech Analysis Team
Tags: EURAUD

Recent Posts

Video: Dollar and Indices are trying to find footing after the fall

The dollar experienced a sell-off but rallied back up by the end of the week.…

3 days ago

What is next: BoJ, Fed, SNB & BoE Rates

The new week will be packed with economic data and decisions from key central banks.…

3 days ago

Dollar attempts to rebound after oversold conditions

Despite economic factors working against the dollar, its oversold condition helped it this week or…

3 days ago

USDCAD Wave Analysis – 14 March 2025

USDCAD: ⬇️ Sell - USDCAD reversed from key resistance level 1.4500 - Likely to fall…

3 days ago

Solana Wave Analysis – 14 March 2025

Solana: ⬆️ Buy - Solana reversed from the long-term support level 113.75 - Likely to…

3 days ago

Adobe Wave Analysis – 13 March 2025

Adobe: ⬇️ Sell - Adobe broke round support level 400.00 - Likely to fall to…

3 days ago

This website uses cookies