– EURAUD under bearish pressure
– Likely to fall to support level 1.6125
EURAUD currency pair under bearish pressure after the earlier breakout of the support trendline of the daily up channel from the start of October.
The breakout of this up channel accelerated the active minor impulse wave 1 of the higher order impulse sequence (1) from the end of last month.
Given the strongly bullish Australian dollar sentiment seen across the FX markets today, EURAUD currency pair can be expected to fall to the next support level 1.6125 (which stopped the previous intermediate ABC correction (B) in the middle of October).
- Nasdaq 100 reversed from strong support level 21000.00 - Likely to rise to resistance…
- USDJPY reversed from key support level 156.35 - Likely to rise to resistance level…
The recent declines in US indices may have broken the bullish trend, indicated by technical…
The dollar has paused its strengthening, as weaker-than-expected inflation data reduces fear of future Fed…
Bitcoin finds support near the 50-day moving average, but further declines in the stock market…
- EURCHF falling inside minor impulse wave 5 - Likely to fall to support level…
This website uses cookies