- Analytics
- Technical Analysis
EUR/AUD Technical Analysis - EUR/AUD Trading: 2023-07-13
EUR/AUD Technical Analysis Summary
Below 1.6316
Sell Stop
Above 1.64122
Stop Loss
| Indicator | Signal |
| RSI | Neutral |
| MACD | Sell |
| Donchian Channel | Sell |
| MA(200) | Buy |
| Fractals | Sell |
| Parabolic SAR | Sell |
| Fibonacci | Buy |
EUR/AUD Chart Analysis
EUR/AUD Technical Analysis
The technical analysis of the EURAUD price chart on daily timeframe shows EURAUD,Daily is retreating after rebounding to two-week high three days ago. The 200-period moving average MA(200) has started to decline. We believe the bearish momentum will continue after the price breaches below the lower bound of the Donchian channel at 1.6316. A level below this can be used as an entry point for placing a pending order to sell. The stop loss can be placed above 1.64122. After placing the order, the stop loss is to be moved to the next fractal high indicator, following Parabolic signals. Thus, we are changing the expected profit/loss ratio to the breakeven point. If the price meets the stop loss level without reaching the order, we recommend cancelling the order: the market has undergone internal changes which were not taken into account.
Fundamental Analysis of Forex - EUR/AUD
German trade surplus declined in May while Australia’s Trade balance surplus rose. Will the EURAUD price retreating continue?
Recent German economic data indicate German economy is facing hard times. Latest trade report showed German trade surplus decreased while investor surveys show investors’ confidence deteriorates. Thus the federal statistics office Destatis reported German trade surplus declined to 14.4 billion euro in May from 16.5 billion in April, when an increase to 17.3 billion euro was expected. And both Sentix and ZEW reports indicate German investor confidence deteriorated further in July. Deteriorating German investor confidence and declining German trade surplus are bearish for EURAUD. At the same time Westpac Banking Corporation recent report showed Australian consumer sentiment improved in July, while earlier Australian Bureau of Statistics data showed Australia’s Trade balance surplus rose more than expected in May: trade surplus rose to 11.79 billion Australian dollars from 10.45 billion in April when an increase to 10.85 billion was expected. Higher Australian trade surplus and improving consumer confidence are bearish for EURUSD
Explore our
Trading Conditions
- Spreads from 0.0 pip
- 30,000+ Trading Instruments
- Stop Out Level - Only 10%
Ready to Trade?
Open Account Note:
This overview has an informative and tutorial character and is published for free. All the data, included in the overview, are received from public sources, recognized as more or less reliable. Moreover, there is no guarantee that the indicated information is full and precise. Overviews are not updated. The whole information in each overview, including opinion, indicators, charts and anything else, is provided only for familiarization purposes and is not financial advice or а recommendation. The whole text and its any part, as well as the charts cannot be considered as an offer to make a deal with any asset. IFC Markets and its employees under any circumstances are not liable for any action taken by someone else during or after reading the overview.