Technical Analysis

Barclay’s is bearish the EURAUD. What do the technicals say?

They like the basics, however what concerning the technicals

They are saying:

“EURUSD is buying and selling on the peak of our anticipated vary (1.10-1.15), whereas AUD continues to rebound from its earlier losses with normal restoration in threat sentiment, which is also supported by our dovish shift within the Fed’s outlook. A near-term threat to this view could be an abrupt shift in sentiment brought on by China progress.”

What do my technical’s say?

Trying on the hourly chart above, the bias is extra bearish.

The worth fell under the 100 and 200 hour MAs on January 4th.  Final week, the value moved above the 100 hour MA (blue line) on Jan 9 and 10 however stalled forward of the 200 “confirming” MA (inexperienced line).  Retains the bears in management..The worth fell again under each MA on January 10 and has stayed under (Bearish)On Jan ninth, the value stalled close to the 100 day MA (blue line presently at 1.59787) and bounced. On Jan 11, the value fell under that 100 day MA (Bearish)Right now, the 100 day MA was examined on the day highs and stalled. (Bearish).

Buying and selling currenly under the 200 hour MA (presently at 1.6078), the 100 hour MA (presently at 1.5995) and the 100 day MA at 1.59787, provides a bearish bias technically.  

What would enhance the bearish bias – and put the pair firmly on the street to Barclays 1.5716 goal – could be a transfer under the 200 day MA at 1.58553.  That MA was final damaged again on December 19 (to the upside).  A transfer under ought to solicit extra technical promoting.   PS the 61.eight% of the transfer up from the December low can also be at 1.5855 which ought to be one other catalyst for draw back momentum on a break.

I just like the commerce technically so long as the value stays under the 100 hour MA at 1.5995, and ideally the 100 day MA at 1.59787.  We presently commerce at 1.5925.


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