EURAUD – Buying Time

The EURAUD pair is positive today and also indicates a buying time
Buy traders may take their position as desired.

EURAUD Weekly Price Analysis – April 13

EURAUD is gaining traction with a robust bullish trend, indicating a buying time for interested traders. The pair is facing high pressure from the bulls. Conversely, if the Yen prices sustain above the $1.84 current level, the bulls’ trend would continue upward and possibly hit the$1.90 upper high level, as it experiences a remarkable surge. Thus, it is a clear buy signal for the BUY investors.

EURAUD Market
Key Levels:
Resistance levels: $1.84, $1.85, $1.86
Support levels: $1.58, $1.57, $1.56

EURAUD Long-term Trend: Bullish (Daily Chart)

The EURAUD pair is in a positive movement and also suggests a buying time today. The price is trading in a bullish momentum in its higher time frame, signifying a buying time and a buy signal for long-term traders.
The currency pair has appeared attractive to buyers at its recent high due to the bulls’ persistent order flow to the $1.79 supply in the last session.

The price breakout at the $1.84 resistance value above the EMA-50 as the daily chart opens today indicates the bulls’ high buying impact, resulting in intraday gains.

Based on the outlook, should the bulls go higher and close above the $1.84 current high mark, a bullish breakout above the mentioned supply will reflect the improved market sentiment.

In addition, the daily stochastic suggests an uptrend continuation. As a result, the target might be the $1.90 supply level as the pair suggests a buying time for buy traders in the higher time frame.

EURAUD Medium-term Trend: Bullish (4H)

In the medium term, the EURAUD pair indicates a buying time as it remains in a resistance zone. Furthermore, the pair is close to the upper resistance levels above the 50-day moving average, indicating an uptrend.
Pressure from the bulls at the $1.79 high value in the previous action has sustained its upward stability in its recent high.

The price of EURAUD which rises significantly above the resistance trend lines at the $1.80 level as the 4-hourly chart begins today, confirms the bulls’ dominance in the market. This breakout triggers a smooth bull cycle pattern, leading the prices to an overhead trend line.

Notably, the pair is showing more possibility of increase as indicated by the daily stochastic pointing upwards. In light of this, more strength is expected from the EURAUD pair as the bulls continue to dictate the market conditions.

The pair may likely reach the $1.90 resistance level in the coming days as the currency pair suggests a buying time in its medium-term perspective.

Note: Learn2.Trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.

 

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