EUR/AUD Moves Up For the 9th Day In A Row, in an Uptrend Over Past 14 Days; Social Sentiment Biased Towards Selling

EUR/AUD Price Recap

EUR/AUD is up 80 pips (0.48%) since yesterday (with its current price near 1.70206), marking the 9th day in a row it has gone up. The price move occurred on volume — and we’re using the number of tick price changes as a proxy for volume — that was down 14.15% from the day prior, but up 175.19% from the same day the week before. Out of the 40 instruments in the Forex asset class, EUR/AUD ended up ranking 10th for the day in terms of day-over-day price change. Here 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 14 days EUR/AUD’s price has gone up 10 them. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!

The View From Around the Web

We’re seeing some traders come out with interesting conviction on EURAUD, with 6 buy signals on our radar and 26 sell signals. This imputes a buy/sell ratio of 0.23, 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.