EUR/AUD Moves Up For the 2nd Day In A Row; in an Uptrend Over Past 30 Days

EUR/AUD Price Recap

EUR/AUD is up 556 pips (3.2%) since yesterday (with its current price near 1.79353), marking the 2nd day in a row it has gone up. The price move occurred on stronger volume, as measured by the number of tick price changes; specifically, yesterday’s volume was up 43.85% from the day prior, and up 100.94% from the same day the week before. Out of the 40 instruments in the Forex asset class, EUR/AUD ended up ranking 3rd for the day in terms of day-over-day price change. Let’s take a look at price chart of EUR/AUD.

EUR/AUD Technical Analysis

Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving up. For additional context, note that price has gone up 17 out of the past 30 days.

The View From Around the Web

Of note is that traders in aggregate have opinions on EURAUD, with 11 buy signals on our radar and 11 sell signals. This imputes a buy/sell ratio of 1, which is neutral. As for the rationale, technical traders seem to be citing the appearance of a trendline technical pattern. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

EURAUD has been very bullish lately and I am expecting a long term sell…….however if it bounces from the main trendline instead of dropping and retesting I can expect a continued uptrend.I got my words a bit mixed up hopefully u can understand my plan…:)