EUR/AUD Price Analysis: Price shifting towards a bullish environment


  • EUR/AUD has made a strong retracement to the downside in longer-term demand territory.
  • The weekly chart offers a bullish outlook as does the daily time-frame. 

Bulls are seeking an entrance as the price pulls-back in a significant Fibonacci retracement. 

There is still a way to go yet, but there could be an opportunity in the next series of 4-hour price movements. 

The following is a top-down analysis, from a swing trading perspective, that illustrates where the next high-probability bullish setup could evolve from. 

Weekly chart

The weekly chart is moving out of bearish and towards bullish territory according to MACD with price testing the 21-week moving average. 

The weekly wick is expected to be filled in from a daily extension. 

Daily chart

Bulls are seeking a break higher from significant Fibonacci retracements. 

The daily wick is an upside correction in the 4-hour time frame which may still need to be filled in, to the downside.

4-hour chart

The price is not in a bullish environment yet, according to the MACD and while trading below the 21 moving average.

There is still room to the downside as far as structure goes and as far as the daily wick is concerned. 

However, a break above the resistance bock, MACD will be above zero, the price will be able the 21 moving average and on a restest of the structure, a discount could be on offer. 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Feed news

Latest Forex News


Latest Forex News

Editors’ Picks

EUR/USD: Bull pennant in play above 200-SMA

EUR/USD picks up bids after a subdued performance on Monday. After a dull start to the week, EUR/USD gains upside momentum, poking 1.1875 amid the early Tuesday morning in Asia. Weaker Momentum line challenges the up-moves but pennant confirmation could propel the buyers.

EUR/USD News

GBP/USD under pressure but around 1.3900

UK Marking Manufacturing PMI improved to 60.4 in July. Tensions related to the Northern Ireland Protocol undermine the pound’s demand. GBP/USD is at risk of falling in the near-term, mainly once below 1.3865.

GBP/USD News

EUR/USD: Bull pennant in play above 200-SMA

EUR/USD picks up bids after a subdued performance on Monday. After a dull start to the week, EUR/USD gains upside momentum, poking 1.1875 amid the early Tuesday morning in Asia. Weaker Momentum line challenges the up-moves but pennant confirmation could propel the buyers.

EUR/USD News

BTC and XRP correct in time versus price as ETH remains unstoppable

Bitcoin ends three-month decline with a compelling 18.35% gain in July while ETH is working on a historic 13 consecutive up days. XRP closed last week with the best weekly return since the end of April.

Read more

Looking ahead to payrolls as markets bounce on China / US truce

Equity markets have started the week on an upbeat note, after a bumper round of earnings reports in recent sessions have helped to boost sentiment. 

Read more

Forex MAJORS

Cryptocurrencies

Signatures