EURAUD – Price Signals a Sell Trade at $1.76 Low Mark

The price bar is below the supply level making it capable of dropping further.
Sell traders may take their position as desired.

EURAUD Weekly Price Analysis – November 30

The EURAUD pair shows a bearish flag, signaling a sell trade at the $1.76 low. However, the pair could see more downtrends as the bearish pressure has just begun on the daily chart. The pair may continue with the dumps if the sell traders renew their selling strength and the potential selling value price drops below the $1.76 low mark. The downward trend may continue to the $1.72 previous low, to hit the $1.70 lower support level and beyond, signaling a potential sell signal for interested traders.

EURAUD Market
Key Levels:
Resistance levels: $1.80, $1.81, $1.82
Support levels:    $1.76, $1.75, $1.74

EURAUD Long-term Trend: Bearish (Daily Chart)

The EURAUD market shows a bearish flag as the pair prepares for a new bearish phase in its long-term outlook.

The market structure signals a sell trade with the price drop below the resistance level, suggesting a bearish trend on the higher time frame.

The last session’s persistent negative pressure at the $1.72 support caused the pair price to drop below supply levels lately.

After reaching yesterday’s low at $1.77, EURAUD sellers increase their swagger, and the currency pair falls to $1.76 below the EMA-50 as the daily chart opens today, indicating a bearish impact and a sell trade.

Thus, a possible breakdown from the current low may accelerate the selling momentum and push prices to the $1.72 previous support, as it approaches the anticipated target at the lower support area.

Notably, the EURAUD pair is approaching the oversold region, suggesting the bearish trend may continue in the coming days. Given this, the price may drop to as low as $1.70 level in the upcoming days.

EURAUD Medium-term Trend: Bearish (4H Chart)

In the medium term outlook, the EURAUD prices are below moving averages, confirming bearish momentum.
The bearish impact on the pair at the $1.77 low level in the last action has contributed to its sell trade setup in its recent drop.

The price of EURAUD at the $1.76 support level below the resistance trend line after the commencement of the 4-hourly chart today signals a sell trade.

The Yen price is nearing a crucial point at the support level. If the bears can push harder, the currency pair may drop further to the previous support at $1.75, indicating possible continuation of the bearish trend.

Additionally, the EURAUD pair suggests downside possibilities by pointing down.

As a result, the bears may continue to dictate market conditions, driving the price to the lower support mark of $1.70 in the days ahead in its medium-term perspective.

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