EUR/AUD 9 Day Up Streak Broken, in an Uptrend Over Past 14 Days; Social Sentiment Biased Towards Selling

EUR/AUD Price Recap

After 9 up days, EUR/AUD snaps its streak, falling 54 pips (-0.32%) over the past day to close at an exchange rate of 1.69665. The price move occurred on volume — and we’re using the number of tick price changes as a proxy for volume — that was down 8.37% from the day prior, but up 171.73% from the same day the week before. Out of the 40 instruments in the Forex asset class, EUR/AUD ended up ranking 26th for the day in terms of day-over-day price change. Below is a price chart of EUR/AUD.

EUR/AUD Technical Analysis

The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. Or to simplify this another way, note that out of the past 10 days EUR/AUD’s price has gone up 9 them.

The View From Around the Web

Of note is that traders in aggregate have opinions on EURAUD, with 5 buy signals on our radar and 23 sell signals. This imputes a buy/sell ratio of 0.22, which is bearish. As for the rationale, technical traders seem to be citing the appearance of a channel technical pattern. Here’s a piece we found on tradingview.com that we thought you might enjoy.