EUR/AUD Up 556 Pips; 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 an upward move has occurred. 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. Relative to other instruments in the Forex asset class, EUR/AUD ranked 3rd yesterday in terms of percentage 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

We’re seeing some traders come out with interesting conviction on EURAUD, with 9 buy signals on our radar and 10 sell signals. This imputes a buy/sell ratio of 0.9, 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.

SELL EURAUD AT ANY TWO RED LINESTP AT GREEN LINESL AT BLUE LINEWAIT FOR BREAK OF TRENDLINE AND 21 MOVING AVERAGE ACTS AS DYNAMIC RESISTANCE