Is the strength of the Australian dollar against the Euro to be abandoned? At the moment it seems that the technical signals are going in that direction and we get this confirmation in what we reported a month ago concerning the evolution of the Aud.
According to the technique of the Ichimoku cloud we have now a technical signal that reinforces the idea of a weak perspective especially for the Australian currency against the Euro. In fact the week has closed with green lights about the bullish setting of EurAud. Even the lagging line (blue line) has provided the latest sign of confirmation of an uptrend that should move towards area 1.50 in fact confirming the bullish engulfing pattern on weekly scale in mid-September.
According to the technique of the Ichimoku cloud we have now a technical signal that reinforces the idea of a weak perspective especially for the Australian currency against the Euro. In fact the week has closed with green lights about the bullish setting of EurAud. Even the lagging line (blue line) has provided the latest sign of confirmation of an uptrend that should move towards area 1.50 in fact confirming the bullish engulfing pattern on weekly scale in mid-September.
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