EURAUD: Price Anticipates a Rise Soon

The EURAUD pair anticipates a rise soon as the bulls remains dominant.
Price breakout above the $1.84 crucial level is pertinent.

EURAUD Weekly Price Analysis – April 20

The EURAUD price anticipates a rise soon as the Yen reaches its time to grow again, facing high buying pressure. Meanwhile, the pair might increase further if the bulls add more aggression to the buying momentum. If achieved, the Yen price may surge above the $1.84 peak high value to reach the $1.90 upper resistance level, signaling a buy potential for the bulls.

EURAUD Market
Key Levels:
Resistance levels: $1.80, $1.81, $1.82
Support levels:     $1.59, $1.58, $1.57

EURAUD Long-term Trend: Bullish (Daily Chart)

The EURAUD market anticipates a rise soon as it remains distinctly bullish after the low dips in its higher time frame. The price is above the EMA line, indicating an upward momentum and a high impact on buyers.
The pair appeared attractive to buyers at its recent high due to the bulls’ persistent order flow to the $1.79 supply in the last few days.
After completing the low dips at the $1.77 support in the last session, the

EURAUD price anticipates a rise and pulled back to a $1.78 resistance value above the EMA-50 as the daily chart opens today, suggesting an attempt by the bulls for the next big bounce, as it experiences a remarkable surge.

Therefore, a daily candle closing and an upward breakout over the $1.84 barrier will give buyers a strong foundation to drive the EURAUD price higher, providing buyers with an excellent entry opportunity.

Additionally, continuation to the upsides is likely as the price indicator projects an upward move, implying that the bullish trend might continue to hit the $1.90 upper resistance trend line soon, indicating a potential buy signal in its long-term view.

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

EURAUD price is bearish on the medium-term chart. Meanwhile, the Yen anticipates a rise as it continues to trend and correct below the supply levels. The price action is below the moving averages, suggesting a bearish trend.
Sellers’ increased momentum to the $1.77 support level in the last session has contributed to the bearishness in its recent correction.

Today, the EURAUD buyers took the journey up north at the $1.78 high mark below the EMA-50, as it continues correcting, shortly after the commencement of the 4-hourly chart, anticipating a rise and bolstering buyers for a sustainable rally.

Hence, if the bullish correction phase persists, the Yen price might be propelled toward the $1.85 previous barrier, indicating a growing buy pressure.

However, the bulls also anticipate a rise soon, as suggested by the daily signal pointing up.

In light of this, the buy traders may continue the bullish correction, and the target might be the $1.90 upper supply mark in the days ahead as the pair anticipates a rise soon in its medium-term forecast.

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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