Forecast of the currency pair EUR / AUD -1
Published on 04.05.2020 16:05

Forecast of the currency pair EUR / AUD 00
Today we will take a look at the EUR / AUD currency pair. At the time of writing, a trading signal to sell was forming. Pay attention to the price chart - we are witnessing the formation of a “head and shoulders” reversal pattern. In addition, the return of quotations at 1.7085 will increase the risk of its decline to 1.7010 and further to 1.6970.
Trading look:
The main scenario.
Break of support 1.7085 activates a bearish scenario, taking into account the decline to 1.7010 and further to 1.6970. A break of the marked levels will indicate the willingness of sellers to develop a more powerful wave of sales in the medium term.
Alternative scenario.
The return of quotes above 1.7135 will cancel the main scenario, indicating a clear weakness of sellers. At the same time, buyers remain at risk.
Today, there are not a lot of news releases, so only the appearance of unexpected news and / or comments can trigger a surge in trading activity. Otherwise, we will observe moderate trading volatility.
The above review is not a direct guide to action, but carries an exclusively recommendatory nature.


Andrew Masters

Analyst

The world of trading has no boundaries
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