EUR/AUD 6 Day Down Streak Snapped; in a Downtrend Over Past 30 Days

EUR/AUD Price Recap

EUR/AUD is down 16 pips (0.1%) since yesterday (with its current price near 1.59771), marking the 2nd day in a row a decline has happened. This move happened on fewer tick price changes which may be a proxy for volume, as yesterday’s total tick count was down 20.15% from the day before — and down 1.53% from the same day the week before. Relative to other instruments in the Forex asset class, EUR/AUD ranked 15th yesterday in terms of percentage price change. Here is a price chart of EUR/AUD.

EUR/AUD Technical Analysis

Notably, the current price of EUR/AUD is sitting close to its 20, 50, 100 and 200 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. As for the alignment of the moving averages, well, it’s a bit mixed up; the 20, 50, 100, and 200 do not progress from largest to smallest, or vice versa. The closest is the 20 day average, which is 142.3 pips away. Related to the moving average crossover is that EUR/AUD’s momentum/trend on a 14 day basis may be decelerating. Volatility for EUR/AUD has exploded over the past two weeks relative to the past 30 days, which technical traders will want to note. The clearest trend exists on the 30 day timeframe, which shows price moving down over that time. Or to simplify this another way, note that out of the past 10 days EUR/AUD’s price has gone down 8 them.

The View From Around the Web

We’re seeing some traders come out with interesting conviction on EURAUD, with 9 buy signals on our radar and 5 sell signals. This imputes a buy/sell ratio of 1.8, which is bullish. Here’s a piece we ; below is a short snippet from it to give you a taste.

reasons for longprice acrion broke up out of consolidation area, entry upon retestSL under the wick of the second candleTP Just before next resistance area