EURAUD minor trend struggles for momentum after gravestone doji

FxWirePro: EUR/AUD minor trend struggles for momentum after gravestone, major trend restrains below channel resistance – Snap rallies for short hedge:

The rejection at the stiff resistance of 1.5090 levels evidences slumps, historically, you could make out the prices have tumbled as it failed to break out above this level.

Even if you see any abrupt rallies that seem to be unlikely to sustain above 7-DMA levels for today (refer daily chart ).

Moreover, the occurrence of Gravestone doji at 1.4980 levels is substantiating the bearish sentiment, breach below DMAs to bring in more dips.

On a broader perspective, the major trend has been sliding southwards in a sloping channel, the upswings have now been rejected by cautious bears at the same channel resistance, but foresee extended upswings upon break-out above channel resistance.

To substantiate the prevailing bearish stance both leading indicators are popping up with overbought pressures.

Whereas 7EMA crosses above 21EMA which is a bullish EMA crossover, hence, it is deemed that the chances of the extended bullish trend are still on the cards but wait for the better clarity if it manages to break out and sustain above this channel resistance.

Having said that, we conclude by stating, overall, the major trend seems little edgy, while the short-term trend may intensify bearish sentiments upon sliding below 21EMA levels.

Trading tips:

Contemplating major bearish trend and prevailing bearish sentiments, on both trading and hedging grounds, capitalizing on prevailing rallies it is advisable to stay short in futures contracts of mid-month tenors with a view to arresting downside risks in the underlying spot movements.

Currency Strength Index: FxWirePro's hourly EUR spot index has turned into -44 (which is bearish ), while hourly AUD spot index was at 128 (which is highly bullish ) at 10:32 GMT .
ZH 简体中文
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 繁體中文
AR العربية
HE עברית
首页 股票筛选器 外汇筛选器 加密货币筛选器 财经日历 如何运作 图表功能 网站规则 版主 网站 & 经纪商解决方案 插件 图表库 功能请求 博客 & 新闻 常见问题 帮助 & 维基 Twitter
概述 个人资料设置 账号和账单 我的客服工单 联系支持 已发表观点 粉丝 正在关注 私人消息 聊天 退出