Technical analysis

EURAUD Wave Analysis – 03 October , 2018

  • EURAUD reversed from support area lying
  • Further gains are likely

EURAUD recently reversed up sharply from the support area lying between the key support level 1.6050 (which has been reversing the price from the start of September) and the lower daily Bollinger Band.

This support area was further strengthened by the 38.2% Fibonacci correction of the previous sharp upward impulse wave (i) from the beginning of August.

EURAUD is expected rise further and retest the next resistance level 1.6250 (top of the previous corrective wave (b) from September).

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