EUR/AUD Bulls are Regaining Control
The EUD/AUD is in uptrend. Bullish marubozu candle (encircled arrow) suggests a move to the upside.
Bounce above 1.6200 is bullish. Continuation is expected due to a bullish signal on CAMMACD template. Targets are 1.6254 and 1.6288. Only above 1.6290, 1.6350 will be xposed. A drop below 1.6170 will negate bullish scenario. If 1.6254 is reached, the pair might have a pullback as 1.6154 is the ATR projection high for today.
The analysis has been done with the CAMMACD.MTF template.
For more daily technical and wave analysis and updates, sign-up up to our ecs.LIVE channel.
Many green pips,
Nenad Kerkez aka Tarantula FX
This article was originally posted on FX Empire
More From FXEMPIRE:
- Bitcoin Cash ABC, EOS and Ethereum – Daily Tech Analysis – 15/12/19
- USD/JPY Fundamental Weekly Forecast – Trade Deal ‘Disappointment’ Could Be Source of Volatility
- U.S. Dollar Index Futures (DX) Technical Analysis – Major Retracement Zone at 97.140 to 96.630 Controlling Long-Term Direction
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.