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.

Feed news

Latest Forex News

Latest Forex News

Editors’ Picks

EUR/USD hits fresh two-month highs amid dollar weakness

EUR/USD has hit new two-month highs above 1.1940 as the dollar resumes its decline. Optimism about the US transition and covid vaccines is weighing on the safe-haven dollar. 


GBP/USD falls toward 1.33 amid Brexit acrimony

GBP/USD is falling toward 1.33 as both the EU and the UK are busy blaming each other for an impasse in Brexit talks. The thorny issues remain fisheries, governance and setting a level playing field.


XAU/USD attempting to bounce up from $1,775 low

Gold futures accelerated heir downtrend from last week highs near $1,900, breaking below the 200-day SMA, at $1,800 area, to hit its lowest prices in nearly five months, at $1,775.

Gold news

Dollar offered ahead of the weekend

Equities are finishing the week on a firm tone, while the US dollar remains heavy. In the Asia Pacific, only Australia and India did not end the week on a firm note.

Read more

Black Friday 2020 Discounts!

Learn to trade with the best! Don't miss the most experienced traders and speakers in FXStreet Premium webinars. Also if you are a Premium member you can get real-time FXS Signals and receive daily market analysis with the best forex insights!

More info