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.
Recommended Content
Editors’ Picks
US Nonfarm Payrolls surprised to the downside in April, showing a gain of 175K jobs – LIVE
The job creation in the US economy seems to have slowed its pace after Nonfarm Payrolls figures reported an increase of 175K jobs in April, coming in short of consensus for a 243K gain.
EUR/USD rises to daily tops past 1.0800 post-NFP
The selling bias in the Greenback gathers extra pace on Friday after the US economy created fewer jobs than initially estimated in April, lifting EUR/USD to the area of fresh peaks above 1.0800.
GBP/USD surpasses 1.2600 after disheartening US Payrolls
The resumption of the downward pressure in the US Dollar motivates GBP/USD to extend its earlier advance to the area beyond 1.2600 the figure in the wake of the release of US NFP.
Gold climbs to new highs above $2,300 on poor NFP prints
The precious metal maintains its bullish stance and breaks above the $2,300 barrier on Friday after US Nonfarm Payrolls showed the economy added fewer jobs than expected during last month.
XRP edges up after week-long decline as Ripple files letter in reply to SEC’s motion
Ripple filed a letter to the court to support its April 22 motion to strike new expert materials. The legal clash concerns whether SEC accountant Andrea Fox's testimony should be treated as a summary or expert witness.