Categories: Technical analysis

EURAUD Wave Analysis – 3 February, 2022

• EURAUD broke resistance zone

• Likely to rise to resistance level 1.6125

EURAUD currency pair recently broke the resistance zone lying between the key resistance level 1.5950 (which has been reversing the pair from January) and the 61.8% Fibonacci correction of the previous ABC correction (2) from December.

The breakout of this resistance zone accelerated the both of the active impulse waves (iii) and 3 of wave (3) from December.

EURAUD currency pair can be expected to rise further toward the next resistance level 1.6125 (target price for the completion of the active impulse wave 3).

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

The third day of Crypto cooling off

The crypto market has continued to cool down for the third day, with a 1.7%…

1 hour ago

GBPUSD Wave Analysis 14 November 2024

- GBPUSD reversed from strong support level 1.2665 - Likely to rise to resistance level…

15 hours ago

USDCAD Wave Analysis 14 November 2024

- USDCAD broke resistance level 1.3950 - Likely to rise to resistance level 1.4050 USDCAD…

15 hours ago

The dollar has reached range limits

The US dollar has strengthened, reaching the upper boundary of its trading range. The British…

18 hours ago

Crypto: Tug-of-war at new altitude

Cryptocurrencies continued to surge, pushing the total cap to $3 trillion. Bitcoin has gained nearly…

18 hours ago

USDJPY Wave Analysis 13 November 2024

- USDJPY broke key resistance level 154.70 - Likely to rise to resistance level 157.20…

2 days ago

This website uses cookies