FxWirePro

Can it be EUR/AUD’s head and shoulder..?

FX:EURAUD   Euro /Đô la Úc
Chart and candlestick formed: EURAUD             bulls manage to hit 14-months’ highs in the intermediate trend but the signs of sustenance seem dubious, as the pair forms gravestone pattern at the peaks of 1.6032 levels on the weekly chart.

While we spot out a potential head and shoulder pattern in the minor trend. Moreover, the trend has been sliding through sloping channel which is bearish in nature.

Today’s rallies are exactly restrained below 21-DMA and channel resistance as RSI signaling the strength in selling sentiment, as a result, a potential head & shoulder pattern possible.

On the contrary, breach of the stiff channel resistance may show strength in the bullish rallies.

On a broader perspective, the break-out of above-stated stiff resistance levels forms new bullish environment.

Historically, you could make out the prices have tumbled as it failed to sustain above this resistance level and how the price behavior has been dipping further.

While MACD also substantiates the bearish stance, lagging oscillator evidences bearish crossover to indicate the price dips to prolong further.

Having said that, we conclude by stating, overall, both intermediate and minor trends seem to be in bears favor but with a little pinch of salt in intermediate trend.

As a result, contemplating the skepticism, on trading grounds, it is advisable to deploy binary tunnel option spreads with upper strikes at 1.5991 and lower strikes at 1.5909 with a view to participating in bearish rallies as well.

Alternatively, at spot reference: 1.5940, contemplating intermediate uptrend, on hedging grounds we recommend adding longs in futures contracts of far-month month tenors.

Holders in a futures contract are expected to maintain margins in order to open and maintain a longs futures position.

Currency Strength Index: FxWirePro's hourly EUR spot index is flashing at -26 (which is bearish ), while hourly AUD spot index was at 56 ( bullish ) while articulating (at 11:40 GMT             ).
VI Tiếng Việt
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Trang chủ Sàng lọc cổ phiếu Công cụ tìm kiếm tín hiệu Forex Tìm kiếm tín hiệu Cryptocurrency Lịch kinh tế Cách thức hoạt động Tính năng Biểu đồ Quy tắc Áp dụng Người kiểm duyệt Giải pháp Website & Môi giới Widget Thư viện Biểu đồ Chứng khoán Yêu cầu tính năng Blog & Tin tức Câu hỏi thường gặp Hỗ trợ & Wiki Twitter
Hồ sơ Tùy chỉnh Hồ sơ Tài khoản và Thanh toán Ticket Hỗ trợ của tôi Liên hệ Hỗ trợ Các ý tưởng đã Xuất bản Người theo dõi Đang theo dõi Tin nhắn riêng Trò chuyện Đăng xuất