I got asked my opinion on the EURAUD. I don’t follow it closely but can apply, my technical tools in the same way as I always do.
EURAUD trying to keep the bulls in control.100 day MA looms at 1.4441.
Above is the daily chart. The price moved above channel resistance and a longer resistance line (currently at 1.4322 and 1.4252 – see chart below). Today the low held the top line (the low came in at 1.4332 area). SO the buyers remain in control.
Above looms the 100 day MA. at the 1.4441 level.
Looking at the hourly chart below, the levels of risk for the buyers – in the short term – can be seen.
Overall, the buyers are in control. The market corrected over the last two days and found buyers. Is the market ready to take on the next hurdle through the 100 day MA. That is the next step if the price is going to go higher from here.
EURAUD on the hourly is bullish but it is time to move.
