EUR/AUD Currency Pair Forecast

EUR/AUD currency pair price ended at A$1.62 on Monday, after losing 0%.
(Updated on Jun 17, 2024)

EURAUD Signals & Forecast

A buy signal was issued from a pivot bottom point on Friday, June 14, 2024, and so far it has fallen 0%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The EUR/AUD currency pair holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at A$1.62 and A$1.63. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued. The currency pair had a Golden Star Signal on Tuesday, June 20, 2023 in the long-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the currency pair in question.

Support, Risk & Stop-loss for EUR/AUD currency pair

There is no support from accumulated volume below today's level and given the right condition the currency pair may perform very badly in the next couple of days.

In general the currency pair tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the currency pair During the last day, the currency pair moved A$0 between high and low, or 0%. For the last week the currency pair has had daily average volatility of 0.398%

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (EURAUD) For The Upcoming Trading Day Of Tuesday 18th

For the upcoming trading day on Tuesday, 18th we expect EUR/AUD to open at A$1.62, and during the day (based on 14 day Average True Range), to move between A$1.61 and A$1.62, which gives a possible trading interval of +/-A$0.0061 (+/-0.38%) up or down from last closing price. If EUR/AUD takes out the full calculated possible swing range there will be an estimated 0.76% move between the lowest and the highest trading price during the day.

With no support below and resistance from accumulated volume @ A$1.62, some A$0.0001 (0.01%) from the current price of A$1.62, our system finds the risk reward not very attractive.

Is EUR/AUD currency pair A Buy?

EUR/AUD holds several negative signals and is within a narrow and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this currency pair.

Current score: -1.654 Sell Candidate Unchanged

Predicted Opening Price for EUR/AUD of Tuesday, June 18, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.